UK (re)insurance industry calls for “leadership” from PM on climate issues
Almost 100 UK businesses, including eight representing Britain’s (re)insurance sector, have written to Prime Minister Boris Johnson urging him to show strong “domestic leadership” that can help deliver global progress on climate change.
Fitch: ESG cat bonds a “catalyst” for ILS market growth
Environmental, social and governance-branded catastrophe bonds could be a catalyst for future market growth, according to Fitch Ratings, with the agency noting that alternative reinsurance protection against climate factors could lead to a doubling of the market by 2030.
Insurtechs should be seen as value-add innovators not competitors
Insurtechs should not be seen as competition but instead be viewed as bringing value to the table, according to panellists at the Reuters’ Break the Barriers to Innovation webinar.
How ESG ratings impact total shareholder return
Environmental, social and governance principles have risen with astonishing speed to the top of the strategic agendas for senior leaders and boards in insurance. That’s appropriate given the growing importance of ESG ratings to capital markets and the investment community.
Developing an effective ESG sustainability and responsibility programme
UK financial services and other firms will be aware of the growing legal and regulatory pressures they face in respect of climate-related financial risk management, especially in the form of current or prospective disclosures (see for example the FCA’s: consultation paper (CP21/18)).
Insurers call for post-Brexit Solvency II overhaul to aid green transition
Zurich launches carbon-neutral equity fund
Prioritising insurance affordability and risk awareness will help create a more sustainable future
IPCC climate change report raises the stakes for insurers
Zurich implements new measures to cut carbon emissions
The ESG interview
Fidelis targets more sustainable future
Fidelis recently strengthened its sustainability drive with the appointment of Victor Riega, who joined group chief underwriting officer Charles Mathias and general counsel Patricia Roufca to discuss the carrier’s sustainability plans with The Insurer.
The ESG Tracker
European carriers outpace US and Japanese rivals on fossil fuel restrictions
European (re)insurers continue to outpace their counterparts in the US and Japan in making commitments towards restricting underwriting for fossil fuels.
The Insurer TV
Kunreuther: Climate change “uninsurable” if left to the private sector alone
Catastrophic risks associated with climate change will remain largely uninsurable unless the private (re)insurance market forges long-term partnerships with the public sector, according to Wharton School professor Howard Kunreuther.
Comment
Meeting the climate challenge: the #ReinsuranceMonth debate
In the absence of the annual market gatherings that typically take place at this time of year, The Insurer’s #ReinsuranceMonth has sought to facilitate debate and discussion around critical industry issues throughout the month of September.
ESG Viewpoint
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Swiss Re: Climate risk to grow property risk pool by ~40% by 2040
UK government ups pressure on firms to sign up for climate targets
Munich Re raises €1bn through second green bond
LSM steps up climate change efforts after aligning capacity to support CTP
US Treasury’s FIO requests information on climate risks in insurance
European carriers outpace US and Japanese rivals on fossil fuel restrictions
US regulators ramp up efforts to assess insurers’ climate-related financial risks
Cat bonds have bounced back. Can it last? And can they go green?
Swiss Re and Climeworks sign 10-year carbon removal purchase deal worth $10mn
Howden appoints Birch to new climate risk and resilience division
Fidelis makes high-profile ESG hire as it accelerates commitment to leading “positive change”
Don’t mock – Lloyd’s is right to take a climate lead
IPCC report provides stark climate warning with human impact now “indisputable”
Why climate risk matters and how the insurance industry can close the protection gap
Reflect, evaluate, cohere, communicate, evolve: a five-stage approach to developing a better culture
Carnegie-Brown: Lloyd’s brand could suffer if participants continue to back carbon-intensive activities
ESG Tracker: July’s major company actions and announcements
COP26: an opportunity for the industry to prove its relevance with joined-up thinking
The ESG Interview: RenRe’s Harriet James on developing an ESG strategy
Chaucer’s Fowle seeks “positive snowball effect” in collective ESG push