Lloyd’s and SAP to support long-term economic resilience for Sierra Leone

13 February 2024 — Andrei VICTOR
Lloyd’s has announced it will partner with Sherbro Alliance Partners (SAP) to support economic resilience and growth opportunities on Sherbro Island, Sierra Leone, as part of a landmark sustainable development initiative that aims to put nature and renewable energy at the centre.

“…the Memorandum of Understanding (MOU) signals Lloyd’s intention to leverage its unique convening power to support the sustainable and regional growth aims of the project”.

Lloyd’s will also provide access to specialist insurance and risk expertise in the market, with input from international professional services firm Aon and leading market insurer Tokio Marine Kiln (TMK) as strategic partners.

Constructed upon sustainable principles, Sherbro Island is poised to transform into a vibrant eco-city, seamlessly blending internationally recognised standards with Sierra Leonean history, culture, and traditions. Its objective is to attract global visitors through cutting-edge infrastructure as well as business-friendly regulations, modern services and amenities, positioning itself as a destination for tourism, arts and culture, residency, work, investment, education, recreation, and retirement.

SAP are currently working closely with the Government of Sierra Leone to complete further feasibility studies, which will in turn provide clarification on the insurance needs for Sherbro Island’s renewable energy, eco-tourism and business ambitions.