Carbon insurance startup Artio gains Lloyd's coverholder status

By Rebecca Delaney

May 1 - (The Insurer) – Carbon insurance startup Artio has been granted Lloyd's coverholder status, with a licence to write coverage on behalf of the market, the company said on Thursday.

Artio launched last month after participating in the 13th cohort of the Lloyd's Lab, which began in October 2024.

Tokio Marine HCC International is the lead capacity provider and participation from Markel and Apollo.

The startup provides early-stage carbon credit delivery insurance, which aims to enable investors to back early-stage carbon removal projects, in turn accelerating the supply of high-integrity carbon dioxide removal credits.

Co-founder and CEO Bilal Hussain described the coverholder status as a "significant milestone."

"Carbon buyers are ready to back high-quality climate solutions, but uncertainty at the earliest stages continues to hold back critical capital flows," he said.

"By providing cover before projects even begin, we’re helping create the conditions needed to accelerate the scaling of this market. We believe that data-driven, fit-for-purpose risk models can unlock billions in new investment and, with the backing of our Lloyd’s underwriting partners, we now have the platform to do that globally."

Artio currently provides coverage for afforestation, reforestation and revegetation projects that establish new forests or restore degraded land by planting trees and implementing soil conservation practices.

It also covers biochar projects, with plans to expand coverage to direct air capture and enhanced rock weathering projects throughout 2025.