The London insurance market has published a new report in which it examines how insurance can power the growth of energy security across the world.

The London Market Group’s (LMG) report “Helping to Secure the Future”, has highlighted the importance of insurance in unlocking, promoting and facilitating greater energy security and resilience.

This release updates the LMG’s 2024 report “No Insurance, No Sustainable Future”, with case studies from across the lifecycle of energy projects gathered from conversations with firms operating in all parts of the London Market – including brokers, syndicates, company market players and MGAs.

The report explained: “Energy security is a cornerstone of national resilience and strategic autonomy. It ensures that a country can reliably access affordable energy to power its economy, protect public welfare, and maintain critical infrastructure. Disruptions — whether from geopolitical tensions, supply chain vulnerabilities, or climate-related events — can destabilise markets, increase costs, and threaten national security.

“In short, energy security is not just a technical issue — it is a strategic imperative. It demands forward-thinking policies, cross-sector collaboration, and sustained investment to safeguard prosperity and sovereignty.

“As well as supporting economic competitiveness by attracting investment, fostering innovation, and enabling long-term planning, it can also align with climate goals.”

It continued: “By investing in clean, resilient energy systems, emissions can be reduced. Energy security and the transition to net zero can work hand in hand. Reducing energy usage, increasing energy storage capacity and building greener solutions for energy are all important aspects of energy security and the transition to net zero.

“In this report, we showcase how insurance – and the London Market in particular, is a key partner in unlocking, promoting, and facilitating the growth of new energy sources, both in the UK and across the globe.”

LMG CEO Caroline Wagstaff, (pic) explained: “In an increasingly volatile risk environment, energy security is now at the heart of national resilience and economic prosperity. The London Market stands as a critical partner, able to unlock investment, foster innovation, and provide the financial safeguards that make ambitious projects possible.

“This report also demonstrates how our market’s scale, expertise, and collaborative spirit are enabling new energy sources, both in the UK and globally. By partnering with industry at every stage of the energy project lifecycle; from conception and financing to construction, operation, and eventual repurposing, the London Market is helping to instil confidence in investors and developers to pursue the solutions needed to ensure for a resilient, sustainable future.

“It also represents a significant area of growth. 73% of London Market participants surveyed expecting premiums from environmentally focused insurance products to triple over the next five years.”

The LMG collaborated with Oxbow Partners to compile the report and the company’s Miqdaad Versi said: “Energy security is just not possible without insurance. We need innovation, risk management and capital to build this cleaner and more resilient future world. And it’s the insurance sector, and the London Market in particular as we see in this report, which is the centre of expertise and out-of-the-box thinking – and which can turn ambition into action and support the vision of energy being secure, sustainable, and affordable for all.”