OAK Global has established OAK Horizon to underwrite risks across climate and technology, targeting areas such as energy systems, data centers and emerging technologies.
The unit operates as a cross-class strategy, with capacity provided through OAK Global’s existing Lloyd’s syndicates.
The launch comes at a time when reinsurers are adjusting underwriting approaches to account for climate volatility and technology-driven exposures. Industry analysis cited by McKinsey points to a shift toward data-led underwriting models, while climate-related losses and evolving risk patterns continue to test traditional approaches. At the same time, the insurance sector is being positioned to play a larger role in managing climate-related financial risk and directing capital toward resilience measures, according to analysis published by the World Economic Forum.
OAK Horizon will underwrite risks tied to evolving weather patterns, energy and power systems, and technology-enabled assets. Planned products include catastrophe protection for natural perils, parametric solutions, energy and power financing and performance cover, technology-aligned asset protection, and partnerships with the public sector.
“The intersection between climate and technology will drive significant opportunity across the risk landscape over the coming decades,” said Cathal Carr, founder, CEO and group CUO of OAK Global. “From a climate resilience perspective, technological and data advancements enable enhanced pricing and structuring of evolving weather risk transfer, supporting re/insurance penetration to reduce the protection gap through traditional and parametric solutions. Technological innovation can drive increased efficiency in addressing the energy and power needs of an evolving global economy, with the opportunity to enhance energy security and mitigate reliance on higher cost and finite legacy systems.”
Carr added: “In addition to advancing risk solutions, technological innovation will also introduce challenges as we consider the needs of next generation engineered assets, such as data centers, and the risk uncertainty associated with nascent technologies such as nuclear fusion.
“OAK Horizon takes a systems-based approach to this ecosystem of growing demand to partner with our clients, create value for our investors and support economic resilience.”
The unit applies a proprietary framework developed by OAK Global to assess how re/insurance products align with the climate and technology ecosystem. This framework is used to construct a portfolio embedded within the group’s Lloyd’s syndicates.
OAK Horizon has dedicated leadership to deploy the framework while drawing on capabilities across the group to underwrite reinsurance and portfolio insurance risks linked to these exposures. The business will also pursue capital partnerships to support its offering and work with participants across the risk market.
The launch of OAK Horizon adds to OAK Global’s existing underwriting structure at Lloyd’s. The group’s primary reinsurance business operates through Syndicate 2843 under OAK Reinsurance, while a separate unit, OAK Enterprise, is being established to write retrocession business through Syndicate 1440 from January 1, 2026.
That syndicate has received in-principle approval and is targeting about $75 million in gross written premium in its first year, with backing from capital providers including institutional investors. It will focus on property and specialty retrocession risks, adding another layer to the group’s underwriting activities across the risk spectrum.
Tom Dickson has taken on the role of chief underwriting officer of OAK Horizon while continuing as president of innovation strategies.
“OAK Horizon delivers a compelling proposition for our clients and partners, including brokers, insurers and MGAs,” said Dickson. “It brings together a unique set of specialists with underwriting expertise to structure innovative solutions to support challenging risks in this space, opening up placement opportunities that would not otherwise be possible. OAK Horizon converts the challenges presented by the inter-connected risks of climate & technology into opportunities and embodies the spirit of innovation in underwriting that has always attracted brokers and buyers to the Lloyd’s market.”
