Chubb shareholders have approved a proposal that requires the carrier to report on how it intends to measure and reduce greenhouse gas emissions but rejected a resolution calling on the firm to stop underwriting new fossil fuel supplies.
Marsh is said to be arranging insurance for TotalEnergies’ controversial East African Crude Oil Pipeline (EACOP), according to reports from the Financial Times and the Bureau of Investigative Journalism.
Scor has unveiled restrictions on covering new oil field production projects within its specialty insurance operations, pledging to only provide coverage if the company operating the field is aligned with net zero by 2050 ambitions.
Lloyd’s said its commitment to lead on ESG remains “unequivocal” as it unveiled its latest ESG report on Tuesday, but the Corporation has been met with criticism over its failure to provide commitments around fossil fuel underwriting.
Inflation and ESG will form the key areas of focus for the 2023 Lloyd’s business planning and capital process, with additional data collection set to be required around catastrophe risk as the Corporation seeks to better control earnings volatility.