Carbon insurance company Oka has received ‘in principle’ approval for Oka syndicate-in-a-box 1922 and aims to start underwriting from January 2024. It will be managed by third-party managing agent Asta.

Chris Slater, founder and chief executive officer of Oka, said: “With the market for carbon credits rapidly growing, our mission at Oka is to ensure every credit is insured. Entry to Lloyd’s provides us with access to the world’s leading insurance marketplace.”

Lorraine Harfitt, chief executive officer of Asta, added: “Oka has a diverse and experienced leadership team with a proven track record of building scale insurance businesses. Having identified a clear gap in the market, access to Lloyd’s will allow them to capitalise on this opportunity.”

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