Read Full Magazine Here. In a world increasingly shaped by economic shocks, social upheavals, and technological advancements, the need for adaptive policies and innovative leadership has never been greater. With 2 billion people still lacking adequate social protection, policymakers and industry leaders alike are looking for bold solutions.
Andrew Selous has expertise across government, business, defense, and insurance.
The intersection of politics, economics, and insurance is more critical than ever. As industries evolve under the pressures of climate change, artificial intelligence, and financial instability, understanding the strategic forces at play becomes crucial. Andrew Selous, a former UK Member of Parliament, government minister, and trade envoy, has seamlessly transitioned into the complex world of insurance and reinsurance. His experience navigating government policies, business regulations, and global trade equips him with unique insights into the future of financial guarantees, sustainability, and insurance-backed infrastructure development. No doubt, Politics is a Business Catalyst.
C&C Insurance Group, founded in 1993 as Asurit, has grown from a small insurance provider into a global leader in innovative risk management. By 2000, the company had pioneered online price comparison services in the UK, setting the stage for rapid expansion. Its Group Chairman is Grant Burrows and its Group CEO is Niraz Buhari.
Former Member of Parliament, Conservative government minister, trade envoy, and seasoned insurance executive, Andrew Selous has left his mark on British politics and reinsurance. In this exclusive interview, BUSINESS LIFE delves into his storied career, his vision for sustainable business practices, and the evolving role of AI and climate change in the insurance sector.
Andrew is a distinguished Business and Government affairs executive with a wealth of experience as a former UK Justice Minister and Trade Envoy. His background spans the NHS, green economy, and defence sectors, where he has navigated complex political landscapes to achieve significant outcomes for the UK.
Explore BUSINESS LIFE’s exclusive cover interview with Andrew Selous- one of the most forward-thinking figures in British politics and the evolving insurance and reinsurance industry where he revealed the pressing challenges facing the modern insurance industry, the influence of political experience in shaping financial institutions, and the groundbreaking technological innovations driving the future of business strategies. He also delves into critical issues such as climate change, insurance, economic stability, cybersecurity, and the risks affecting the energy sector.
BL: Andrew, what are your thoughts on Dubai World Insurance Congress (DWIC25) role in Shaping Global Insurance networks opportunities? And could you provide me with the profile of City &
Commercial Insurance Group?
Andrew Selous: City & Commercial started as a small broker before acquiring its first insurance company in Guernsey in 2016. Since then, we’ve expanded significantly, obtaining licenses in Bermuda, the Seychelles, and Namibia, as well as an operations office in India. We also have a venture capital company within the group. Today, our primary focus is on reinsurance, operating as a managing general agent.
We specialize in financial guarantee business, providing critical surety bonds that enable large-scale construction projects to proceed, along with payment guarantees and trade credit. Our portfolio also includes traditional lines—property, engineering, casualty, and even some marine insurance. The group has grown substantially, with 18 different companies and offices spanning Africa, including Tunisia, Namibia, and Tanzania, as well as a major operational center in India. The expansion reflects our commitment to fostering economic resilience and sustainable insurance solutions across diverse markets.
BL: You come from a political and business background, how did your transition from government to insurance unfold?
Andrew Selous: My career path has certainly been unconventional. I began in reinsurance, working at Lloyd’s of London. I then spent a decade at a Munich Re subsidiary, specializing in property catastrophe underwriting, particularly in Far Eastern markets. I always viewed insurance as the “prudence of the many coming to the aid of the misfortune of the few, at no cost to the state” a philosophy that I believe remains true today.
However, my long-standing ambition was to serve my country in politics. I entered Parliament in 2001 and went on to win five further general elections, serving for 23 years. My tenure included roles as Justice Minister and Prime Ministerial Trade Envoy to Africa, which directly ties into our business today at City & Commercial Insurance Group—much of our business is in Africa.
BL: How has your political experience influenced your business strategies?
Andrew Selous: Politics and government shape every aspect of life—including insurance. While regulation is the most visible aspect, political stability, governance, and international trade policies also have profound effects on business operations. Having experienced both effective and ineffective governance throughout my political career, I understand the importance of political conditions in enabling economic prosperity.
One particular advantage has been leveraging the UK’s Department for Business and Trade professionals stationed in UK embassies worldwide. They help facilitate business growth across Africa and around the world, ensuring fair regulatory interactions, timely premium payments, and overall market stability.
BL: You’ve spoken passionately about climate change, how do insurance and reinsurance companies need to respond to evolving environmental risks?
Andrew Selous: The relationship between insurance, capitalism, and climate change is becoming increasingly strained. In regions like California, homes are becoming uninsurable due to climate-related risks. It’s imperative that insurers engage in sustainable initiatives, such as the Nairobi Declaration on Sustainable Insurance, which our company has proudly signed.
Governments, insurers, and developers must collaborate to mitigate risks—high building standards, climate-resilient infrastructure, and sustainable regulations must be enforced. Insurance shouldn’t be an afterthought; it should be embedded in the early stages of development planning to create resilient economies.
BL: Since you mentioned artificial intelligence earlier, how does AI contribute to growth and efficiency within the insurance and reinsurance sectors?
Andrew Selous: AI is a transformative tool, particularly in underwriting and risk assessment. It can optimize due diligence and refine forecasting models, but it will never replace human judgment entirely. The nuanced decision-making of seasoned insurance professionals remains invaluable. The industry must harness AI’s capabilities while preserving the critical human insight which is needed for financial stability.
BL: Europe recently experienced a major energy sector disruption—possibly a cyber-attack—that left people stranded in metros, lifts, and trains. What are your thoughts on such crises?
Andrew Selous: Reliable energy grids are fundamental to economic growth, and disruptions can have severe consequences. While the cause of the European blackout is still under investigation, ensuring strong grid connectivity, backup energy supplies, and the strategic application of AI to grid management are all crucial.
This is particularly pressing in Africa, where millions lack adequate energy infrastructure. Strengthening global energy security must be a priority.
BL: Do you believe business and politics are inseparable?
Andrew Selous: Absolutely. Governments create the conditions for businesses to thrive, and in turn, businesses drive economic growth and job creation. Insurance plays a central role—without it, economies cannot function.
The insurance industry must be proactive in discussions on regulation, climate resilience, and economic stability. Major projects require robust insurance support from the outset, not as an afterthought. We must advocate for smarter, forward-thinking policies that ensure sustainability and security.
BL: Andrew, we know that recently Europe suffered a severe attack on the energy sector—possibly a cyber-attack—which left many people stranded in lifts, metros, and trains. What are your comments on this crisis?
Andrew Selous: Energy and uninterrupted power supply are absolutely vital for any economy to thrive. If energy supply is disrupted, economic growth naturally suffers. Many developed nations have long taken stable energy access for granted, but in Africa, hundreds of millions still lack access to reliable power.
Even in Europe, which has strong energy infrastructure, we see vulnerabilities. The blackout in Spain and Portugal highlights the need for a strengthened grid and smarter energy management—perhaps through artificial intelligence. While we don’t yet know the exact cause of this outage, speculation suggests it may have been linked to renewable energy connections. That remains to be investigated. However, the priority must be ensuring backup energy supplies and reinforcing the resilience of power grids to prevent future disruptions.
BL: Since you mentioned artificial intelligence, how significant is AI in the growth, planning, and organization of the insurance and reinsurance sectors?
Andrew Selous: AI is absolutely critical in many aspects of business. In insurance, AI enhances underwriting due diligence and risk assessments, helping companies optimize their operations. However, AI will never replace human expertise. Insurance professionals bring nuanced judgment that machines simply cannot replicate.
The most successful organizations will strike a balance—leveraging AI’s power while maintaining the experienced perspective of seasoned underwriters and brokers. It would be foolish for insurers to ignore AI, but it must always complement, not replace, human decision-making.
BL: What are your views on the ongoing trade war and the recent regulations introduced by President Trump, which have led the U.S. toward economic secularization and potentially into a deep recession?
Andrew Selous: I am a strong believer in free trade. Adam Smith’s Wealth of Nations demonstrated centuries ago that economic prosperity comes from specialization and the exchange of goods and services between countries. However, balance in trade is important, and the U.S. has a significant trade deficit of around $1.2 trillion.
To be fair, President Trump has advocated for tariffs for decades, so his policies should not come as a surprise. His first term aimed to rebalance global trade, but some international agreements were not honored, which likely contributed to his frustration. While I hope that the imposition of tariffs is resolved, it’s crucial to restore some equilibrium to global trade. Excessive trade imbalances create instability, and trade functions best when there is a relatively even exchange of goods and services.
BL: How is the insurance industry impacted by developments in the White House and global trade conflicts, and what are your current challenges?
Andrew Selous: The insurance and reinsurance sectors are directly affected by global economic trends, and any downturn in trade will have negative consequences for our industry.
One major challenge is insurance penetration, which remains extremely low in developing nations. In many African countries, single-digit insurance coverage percentages leave people vulnerable—whether it’s workplace accidents, health risks, or property losses. Expanding insurance access represents both a need and an opportunity.
Additionally, climate risk is an urgent concern. Insurers must actively participate in climate adaptation strategies, offering solutions to mitigate environmental challenges. Risk management expertise within the insurance industry positions us as key players in addressing climate resilience.
Finally, we need to attract young professionals into the insurance sector. Recent studies in the UK show that many young people don’t consider insurance careers. That’s unfortunate, as insurance is essential to economic activity—without it, nothing happens. We need to ensure the industry continues to draw the best talent.
BL: Given the rise of cybersecurity threats, how should insurers adjust their strategies to tackle cyber risks effectively?
Andrew Selous: Cyber attacks on government organisations like the National Health Service and major private companies like Marks and Spencer show the need for Cyber insurance for businesses and governments alike as well as the very extensive technical expertise required by underwriters to cover cyber risks in a way that is sustainable for them.
BL: How can governments and financial institutions collaborate to ensure better access to insurance in emerging markets?
Andrew Selous: I am impressed by the Indian Government’s commitment to Insurance for All by 2047, only 22 years away now. Indian is showing the way and other Governments in Africa and elsewhere should follow their example.
BL: With growing concerns about sustainability, what role should insurers play in promoting green infrastructure and renewable energy projects?
Andrew Selous: Insurance has always successfully provided cover for new industries and new sectors, from the time of the first industrial revolution onwards. Trillions of dollars of investment is needed to eradicate poverty on a liveable planet and that represents a huge opportunity for the insurance industry as well as requiring technical expertise in hydrogen, small nuclear reactors, electric arc furnaces and many other areas. We should rise to the challenge as our industry always has done.
