To boost cross-collaboration on issues such as climate change and cyber risks, the Association of British Insurers (ABI) and the Brazilian Insurance Confederation (CNseg) have signed a Memorandum of Understanding (MoU).
With an enhanced focus on climate change, the MoU cements the two associations’ commitment to share examples of good practice and success cases from the Brazilian and UK (re)insurance markets. It also pledges to collaborate ahead of the Conference of the Parties (COP) 30 in Brazil in 2025.
As the voice of the UK’s insurance and long-term savings sector, the ABI represents more than 300 member companies including most household names and specialist providers.
CNseg represents insurance and personal pension companies in Brazil, helping to promote the development of the market and ensuring it meets the needs of people in Brazil.
Signed at the Brazil-UK Insurance Forum, co-hosted by the ABI and CNseg at the Brazilian embassy on Wednesday 30 October, the MoU also recognises their continued commitment to promote co-operation, exchange views and share information on matters of common interest.
Secretary of State for Business and Trade, Jonathan Reynolds, said:
“The insurance industry is vital in helping businesses and individuals recover from setbacks, and to building the long-term resilience and stability which underpins economic growth.
“I welcome this exemplary cross-border collaboration between British and Brazilian counterparts. Sharing their knowledge and expertise will ensure their practices evolve to support our transition to clean energy and a low carbon economy.”
Hannah Gurga, ABI Director General, said:
“Climate change and the global insurance protection gap are areas that both the ABI and CNseg are committed to tackling. In the run up to COP 30, I’m delighted to be marking our ongoing relationship with CNseg with this vital MoU to enhance our efforts to improve resilience in the face of emerging risks.”
Dyogo Oliveira, President of CNseg, said:
“The insurance sector's participation in the climate agenda is vital. Our core business is to assess risks based on data and propose solutions to mitigate these risks. This beginning of a partnership between CNseg and ABI will allow us to create a fruitful exchange of information and processes for risk mitigation projects associated with climate change.”
The ABI and CNseg are both members of the Global Federation of Insurance Associations.
About the ABI
The ABI is the voice of the UK’s world-leading insurance and long-term savings industry, which is the largest sector in Europe and the third largest in the world. We represent more than 300 firms within our membership, including most household names and specialist providers, providing peace of mind to customers across the UK.
We are a purpose-led organisation: Together, driving change to protect and build a thriving society. On behalf of our members, we work closely with the UK’s governments, HM Treasury, regulators, consumer organisations and NGOs, to help ensure that our industry is trusted by customers, is invested in people and planet, and can drive growth and innovation through an effective market.
A productive and inclusive sector, our industry supports towns and cities across Britain in building a balanced and innovative economy, employing over 300,000 individuals in high-skilled, lifelong careers, two-thirds of whom are outside of London. Our members manage investments of £1.5 trillion, contribute £18.5 billion in taxes to the Government and support communities and businesses across the UK.
More news and information from the ABI is available on www.abi.org.uk.
About CNseg
The National Confederation of General Insurance, Pension, Life Insurance, Health Insurance and Lottery Bond Companies (CNseg) represents the sector’s companies in Brazil, which belong to four federations (FenSeg, FenaPrevi, FenaSaúde and FenaCap). CNseg’s core mission is to provide services that improve people’s lives and promote business activities, allowing the Brazilian economy to grow. Check out the latest news about CNseg work on websites cnseg.org.br or noticiasdoseguro.org.br, the largest news hub about the insurance sector.
Follow CNseg's channels on Facebook, LinkedIn, Instagram and YouTube.