Parliamentary roundtable explores findings of AXA UK extreme weather report

Flooding Minister Emma Hardy MP joined Tara Foley, CEO of AXA UK & Ireland, and others for a Parliamentary roundtable to discuss the findings of AXA UK’s ‘Extreme weather risks’ report
Participants agreed that collaboration between the Government and the private sector is crucial to tackle the devastating effects of flooding and other extreme weather risks

AXA UK hosted a roundtable discussion in Parliament on Tuesday 21 January to discuss the findings of its report ‘Extreme weather risks: An analysis of England's vulnerability to flooding and heat’.

Tara Foley, CEO of AXA UK & Ireland, was joined by Flooding Minister Emma Hardy MP, Environmental Audit Committee chair Toby Perkins MP, and others to explore solutions to the growing impact of extreme weather across the country.

The report is a comprehensive piece of research that uses AXA UK’s own business and home claims data, together with information from bodies such as Defra and the Environment Agency, to highlight the areas of England most vulnerable to climate risks posed by extreme weather.

Participants agreed that collaboration between the Government and the private sector is crucial to tackle the devastating effects of flooding and other extreme weather risks such as excessive heat, which can cause buildings to crack and subside.

The Minister highlighted Build Back Better – a scheme that allows homeowners to access up to £10,000 of funding for flood resilience measures following a flooding claim – as a good example of businesses working in partnership with the Government. AXA UK is a member of the scheme, but Ms Hardy highlighted the fact that only 66% of insurers have signed up.

Taking a collaborative approach across the public and private sectors is essential to help identify the growing climate risks we face and find solutions to combat them. I look forward to continuing the conversation and working with the Government to build a more resilient future for everyone.

Tara Foley, CEO at AXA UK & Ireland

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About AXA UK

AXA Insurance UK plc registered in England and Wales under registered number 078950 and authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation Authority and the Financial Conduct Authority under Financial Conduct Authority registration number 202312. Registered office is 20 Gracechurch Street, London, EC3V 0BG.

AXA UK is part of the AXA Group, a worldwide leader in insurance and asset management, with 147,000 employees serving 94 million clients in 50 countries. In 2023, IFRS revenues amounted to Euro 102.7 billion and underlying earnings to Euro 7.6 billion. AXA had Euro 844 billion in assets under management as of December 31, 2023.

In the UK & Ireland, AXA operates through a number of business units including: AXA Insurance, AXA Health and AXA Ireland. AXA UK & Ireland employs around 10,000 staff.

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