Kita secures strategic backing from Tokio Marine Group

Kita secures strategic backing from Tokio Marine Group

Kita, a carbon credit insurance specialist, has secured a strategic investment from the Tokio Marine Group and agreed to broaden its existing partnership with the insurer.

The investment, made through Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF), builds on work already under way between Kita and Tokio Marine Kiln, where the two firms have jointly developed political risk insurance cover for carbon credit transactions. With the new backing in place, Kita will now extend its collaboration to further parts of the Tokio Marine Group as it looks to support the growth and integrity of carbon markets worldwide.

A central part of the expanded relationship will take place in Japan, where Kita and TMNF are working on insurance designed to protect buyers of carbon credits from transaction-related risks, including instances where prepaid credits are not delivered as agreed.

Alongside this, the two companies plan to explore offering TMNF’s customers carbon project risk assessment services built on satellite-based analytics.

TMNF intends to combine these risk assessment tools with the wider carbon project support it already delivers through Nippon Koei, the Tokio Marine Group’s engineering consultancy arm.

Nippon Koei’s existing services span field assessments, project design, due diligence and implementation support. Bringing these together with Kita’s capabilities is intended to create a single service covering the entire lifecycle of a carbon project, from early-stage screening and detailed, field-survey-backed investment assessments through to long-term support for credit generation and project delivery.

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