Zurich Financial Services has announced that former UK prime minister, Tony Blair, is to advise the insurance based financial services giant on developments and trends in the international political environment. In particular, Mr Blair will be working with the Climate Change Advisory Council, advising on Zurich's new Climate Initiative, which was announced last week by CEO, James Schiro.

Mr Blair said: "There is a consensus now that the challenge of climate change is real, and what we need now are the policy solutions to turn that concern into action. That’s why Zurich’s work to look at how business, and in particular the insurance sector, can play its part is so crucial, and why I welcome the chance to help them with it."

Mr Schiro said: “His appointment sits alongside other initiatives where Zurich has partnered with external thought leaders to challenge and enhance our operational and strategic thinking. We are particularly pleased with the input he will be able to provide to our recently launched Climate Initiative.”

Earlier this year, JPMorgan Chase announced that Mr Blair would be advising the Wall St banking group on political and strategic matters.