Allianz UK, part of financial services group Allianz SE, has joined the FloodAction Coalition, a move that demonstrates its commitment to flood resilience and sustainable solutions.
The FloodAction Coalition aims to bring together insurers, landowners and investors to create a £1bn water restoration market by 2028.
To achieve this, the alliance aims to transform nature-based solutions into scalable, investable infrastructure for a climate-resilient future.
In addition to becoming a member, Allianz UK chief claims officer Matt Cox has joined the alliance’s steering committee, an appointment that reinforces Allianz’s commitment to solving the pressing issue of flooding in the UK.
By being appointed to the committee, Allianz UK strengthens its dedication to sustainable insurance practice through collaborative data sharing.
The company continues to advocate for tighter regulation of development in high-risk flood zones and a unified long-term strategy involving developers and government.
Cox commented: “Flooding remains one of the most pressing environmental threats facing communities across the UK. Not only does flooding cause suffering to individuals and families whose homes and businesses are damaged, it also affects local infrastructure and economies, while clean-up and repairs impose huge environmental costs.”
He continued: “I look forward to being part of the Flood Action Alliance to demonstrate the value of insurers and represent the industry in the fight against floods together. By working with other insurers, policymakers and local stakeholders, we can seek to develop practical solutions and drive meaningful change.
“Together we can protect consumers by advancing sustainable strategies that support natural flood management and help build a future where homes and lives are safer from flood risks.”
In addition, Allianz and Ashfield Solutions have issued consumer flood reports for those not eligible for the Build Back Better scheme. This new tool provides risk insights and property-specific awareness to help customers enhance future flood resilience.
Paul van Zyl, co-founder of The Conduit, which convened the FloodAction Coalition, said: “Welcoming Allianz UK to the FloodAction Coalition reflects the growing momentum behind building an effective water resilience market. Insurers are at the heart of this transformation. They see risk first and increasingly understand the opportunities to reshape it. By bringing together insurers, land, capital and policy, the Coalition works to transform fragmented activities into coordinated, basin-scale ones. Delivery protects communities while unlocking long-term investment.
“Furthermore, gray infrastructure alone cannot achieve the levels of flood risk reduction now required. Combining nature-based solutions with traditional defenses can increase effectiveness, reduce costs and speed delivery, especially when implemented at a catchment scale.”
