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London - October 23, 2023

¾ÅÉ«ÊÓƵand the AXA Research Fund have joined a research hub created by the Cambridge Centre for Risk Studies (CCRS) to help mitigate systemic risks such as climate change, pandemics, cyber threats, geopolitical change and financial crisis.

The Cambridge Systemic Risks Hub focuses on gaining a deeper understanding of the interconnected nature of systemic risks, and explores the drivers, implications and potential solutions to inform and enable the insurance industry to better respond to current and future threats. The hub fosters private-public collaboration to encourage sharing of expertise to develop new risk transfer products and advisory services.

¾ÅÉ«ÊÓƵand AXA Research Fund will focus on climate transition risk as their contribution to the initiative. The climate transition is expected to have significant global implications for geopolitics, technology, social cohesion and business development affecting all countries and all sectors of the economy.

Dr Michelle Tuveson, Executive Director and Chairman of the Advisory Board at CCRS, commented: “We are honoured to be leading this research hub – this pool of expertise will be invaluable in steering our research as we look to create new private market risk management products and services.”

Andrew MacFarlane, Head of Climate at ¾ÅÉ«ÊÓƵ said: “Evolving our assessment of risk management from linear thinking to a more systemic approach will enhance our ability to manage and understand increasingly complex and interconnected risks. CCRS has longstanding expertise in this area and working alongside them will enable us to identify opportunities to support our clients while they navigate a constantly changing risk landscape.” 

Martin Powell, Group Head of Sustainability, AXA said: “Collaborating in this way aligns with the AXA Research Fund’s mission of helping to inform public and private decision-making based on science to tackle the key issues of our time to protect the planet, communities and society as a whole.”

The research results will enable better collaboration with international bodies, national governments, and local authority administrations in policy-making around risk reduction and ultimately improve global cooperation in reducing systemic risk.

Dr Andrew Coburn, Chief Scientist at CCRS, said: “Systemic resilience needs the foresight of systemic backstops to which capital markets can respond. Modelling to support new financial instruments will be critical in addressing future crises.”

Professor Daniel Ralph, Academic Director at CCRS, said: “GDP-sized government interventions have been the solution to pandemic-sized events, but government action at this scale is typically ad hoc – better regulatory and financial structures are needed to protect societies from long-term erosion of wealth.”

Dr Trevor Maynard, Director of Systemic Risk Research at CCRS, said: “We are delighted that ¾ÅÉ«ÊÓƵand AXA Research Fund have chosen to explore climate transition risks as part of our broader focus on global systemic threats. We hope our work can help businesses to better navigate the multiple potential futures that might occur.”

Funding will be provided by an international collaboration of companies including founding partners AXA through ¾ÅÉ«ÊÓƵand the AXA Research Fund.

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ABOUT THE CAMBRIDGE CENTRE FOR RISK STUDIES AT THE UNIVERSITY OF CAMBRIDGE JUDGE BUSINESS SCHOOL
The Cambridge Centre for Risk Studies is based within the University of Cambridge Judge Business School. The Centre works closely with business partners in tackling complex issues of management science in risk. This policy of deep engagement has enabled the Centre to develop relevant solutions for businesses. The Centre’s leadership combines academic excellence with industry experience. Click for more information.

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ABOUT THE AXA RESEARCH FUND
The AXA Research Fund is AXA Group’s global scientific philanthropy initiative, launched in 2008 to address the most important issues of our time. It supports human progress by funding independent research in key areas related to risk and helping inform public and private decision-making based on science. With a total budget of €250 million since its launch in 2007, the AXA Research Fund has forged partnerships with more than 330 academic institutions in 38 countries and has supported over 700 projects led by researchers of 60 nationalities, 43% of whom are women.

MEDIA RELATIONS:
Sarah Samee
Communications Director, UK & Global ESG
¾ÅÉ«ÊÓƵ a division of AXA 
+44 (0) 7977 662 829
sarah.samee@axaxl.com