Lloyd's of London logo

Lloyd’s and Sherbro Alliance Partners announce partnership to support long-term economic resilience for Sierra Leone

06 Feb 2024

Lloyd’s, the world’s leading marketplace for insurance and reinsurance, 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.

Signed today at Lloyd’s iconic headquarters in London, 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.

“As chair of the SMI’s Insurance Taskforce, Lloyd’s has a leading role to play in helping bring innovative and regenerative projects to life around the world. Sherbro Alliance Partners’ vision for Sherbro Island is to bring long-term prosperity and growth to the region, while providing access to cutting-edge renewable energy and technology. We look forward to working closely with SAP to help bring this project to life.”
John Neal, Lloyd’s CEO
“This partnership represents a significant milestone in our efforts to make Sherbro Island a reality. Lloyd’s commitment to backing regenerative projects globally positions them as an ideal partner. Together we are at the forefront of pioneering a fresh approach to developing African cities, with a strong focus on sustainable and renewable energy. Lloyd’s support will fuel our growth as we work towards achieving our shared vision of a more sustainable future.”
Idris Elba, Co-Founder of Sherbro Alliance Partners
“Building a new city that prioritises sustainable growth and development requires strong partnerships. By collaborating with Lloyd’s we can harness collective expertise, resources and innovation to create a thriving modern metropolis. Partnerships like these are crucial in shaping Africa’s sustainable development to ensure our cities are not only technologically advanced but also environmentally conscious, socially inclusive and economically vibrant.”
Siaka Stevens, Co-Founder of Sherbro Alliance Partners

Notes to Editors

The MOU is based around the key objectives of:

  • Strategically partnering with Sherbro Alliance Partners (SAP) to support economic growth opportunities on Sherbro Island, Sierra Leone. 
  • Leveraging our convening power to support the sustainable and regional growth of the project, specifically through providing access to specialist insurance and risk expertise from the Lloyd’s market. 
  • Supporting risk and insurance solutions in a number of areas including renewable energy infrastructure, which clearly aligns with our ambition of being the insurer of the transition.
  • SAP are to be an ambassador for the Inclusive Futures Programme and we will in turn, support the initiatives of the Elba Hope Foundation specifically around their mission of fostering transformative, community-led change.

Enquiries to

Lloyd’s Media Contact

Jack.Petch@lloyds.com pressoffice@lloyds.com

SAP Media Contact

Kate.Kelly@edelman.com chloe.sikora@edelmansmithfield.com

About Lloyd’s

Lloyd’s is the world’s leading marketplace for insurance and reinsurance. Through the collective intelligence and expertise of the market’s underwriters and brokers, we’re sharing risk to create a braver world. 

The Lloyd’s market offers the resources, capability, and insight to develop new and innovative products for customers in any industry, on any scale, in more than 200 territories. 

We’re made up of more than 50 leading insurance companies, over 380 registered Lloyd’s brokers and a global network of over 4,000 local coverholders. Behind the Lloyd’s market is the Corporation: an independent organisation and regulator working to maintain the market's successful reputation and operation.

We’re working to build solutions for the most current and prevalent threats. As Chair of the Insurance Task Force for HM King Charles III’s Sustainable Markets Initiative, Lloyd’s is bringing the industry together to insure the transition to net zero. Our research community is pooling expertise from across the industry to provide cutting edge insight on systemic risks from climate change to cyber security. 

And through our digital-led strategy, The Future at Lloyd’s, we’re making it easier and cheaper to place, price and process cover in the Lloyd’s market.

Find out more about the Future at Lloyd's

About Sherbro Alliance Partners

Founded in 2019 by Idris Elba and Siaka Stevens, Sherbro Alliance Partners (SAP) is an infrastructure development company spearheading the Sherbro Island City project in Sierra Leone. With a mission to establish the world's first African Dynamic Eco-City on Sherbro Island, designated as a special economic zone (SEZ); where history, culture, art, and internationally accepted standards of sustainability blend in harmony. 

The organisation aims to create a secure, diverse, sustainable, and pioneering hub for business, education, energy, agriculture, entertainment and tourism. This visionary project will serve as a home for Sierra Leoneans and all global visitors Sherbro Alliance Partners.

Find out more about Sherbro Alliance Partners