The announcement demonstrates XL Catlin's commitment to working with scientists to promote a better understanding of the threats to ocean health, as well as their consequences for society, economies and ecosystems around the world. Previously, XL Catlin has partnered with researchers on a series of expeditions which investigated changes in the ocean, including the Catlin Arctic Survey, XL Catlin Seaview Survey and the XL Catlin Deep Ocean Survey.
XL Catlin's Chief Experience Officer, Paul Jardine will be further supporting this effort, attending The Economist's World Oceans Summit in Bali between the 22-24 February. Joining the panel on 'Assessing climate-change risk in the ocean', Mr. Jardine will speak on the need for greater understanding about ocean health from those within the risk management community.
Speaking ahead of the event, Mr. Jardine said: "Oceans have not featured significantly in climate agreements, but they are driving many changes which have impacts around the world. As re/insurers we need to understand how the planet is changing, and we acknowledge the need to increase the scale of research into our marine environment. We recognise that ocean risks have a bearing on some of the most important challenges of the 21st century including food security, geopolitics, extreme weather and many other areas. They are real concerns for business and policymakers and they cannot be ignored. That is why it is critical that we participate in ensuring the viability and sustainability of investment in the ocean."
Continuing, Mr. Jardine said: "By supporting research by the best young marine scientists we are investing in the future of ocean science. Our Ocean Risk Grants represent an exciting new way for us to fund primary research which can make a clear impact in science, policy and beyond."
XL Catlin has a long history of investing in ocean science working with important partners such as the Bermuda Institute of Ocean Sciences (BIOS), the University of Queensland, University of Cambridge and University of Oxford.
The research it funded has helped deepen understanding of the dramatic sea ice loss in the Arctic, ocean acidification, ocean warming, and ecosystem degradation. Extensive work on coral reefs has created the most complete digital record of coral health that is freely accessible at the XL Catlin Global Reef Record. A series of research papers continues to be published by the scientists involved in these expeditions.
About XL Catlin
XL Catlin is the global brand used by XL Group Ltd's (NYSE: XL) insurance and reinsurance companies which provide property, casualty, professional and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. Clients look to XL Catlin for answers to their most complex risks and to help move their world forward. To learn more, visit xlcatlin.com.
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SOURCE XL Catlin