Kita, a specialist provider of political risk insurance for carbon credit transactions and a Lloyd’s Coverholder based in London, has secured a strategic investment from the Tokio Marine Group, alongside an expanded partnership between the two organisations.
The investment, made through Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF), extends a relationship that began with Tokio Marine Kiln, where the two firms had already been developing political risk insurance products aimed at carbon credit transactions.
With the new backing in place, Kita will now widen its collaboration to additional entities across the Tokio Marine Group, with the stated aim of supporting the growth and integrity of the global carbon markets.
A particular focus of the expanded relationship is Japan, where Kita and TMNF are working together to create insurance cover that protects buyers of carbon credits from transaction-related risks, including instances where prepaid credits fail to be delivered as agreed under contract.
Beyond insurance protection, the partnership will also see Kita and TMNF explore the use of satellite-based analytics to deliver carbon project risk assessment services to TMNF’s customer base.
TMNF intends to combine these analytical capabilities with the broader carbon project support services already offered through Nippon Koei, the engineering consultancy that sits within the Tokio Marine Group. Nippon Koei’s existing offering spans field assessments, project design, due diligence and implementation support.
Together, the two firms are aiming to build a one-stop solution that covers the entire lifecycle of a carbon project, from rapid preliminary screening at the early evaluation stage, through to detailed, field survey-backed investment assessments, and on to long-term support for carbon credit generation and project delivery.
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