Latest news

BIBA 2022

Biba display of ESG credentials highlights rise up agenda

2022-05-13T07:04:00+01:00

This week’s British Insurance Brokers’ Association (Biba) conference marked the first major in-person UK insurance gathering since the onset of the Covid-19 pandemic in early 2020, with thousands of industry professionals meeting in Manchester for the event.

Axa regenerative agriculture

Axa signs MoU to create €1bn regenerative agriculture fund

2022-05-12T15:50:00+01:00

Axa has unveiled plans to invest €100mn ($104mn) in a private equity impact fund dedicated to investing in projects and companies supporting the regenerative agriculture transition.

Fidelis sustainability

Fidelis joins Net-Zero Insurance Alliance

2022-05-12T13:30:00+01:00

Bermudian carrier Fidelis has become the latest insurer to join the UN-convened Net-Zero Insurance Alliance (NZIA).

Swiss Re ESG

Swiss Re: Investors to increase focus on the S in ESG

2022-05-11T15:41:00+01:00

Private capital has a growing opportunity to make a positive difference to inequality, Swiss Re has said in its latest Sigma report, with the investment community placing greater emphasis on social issues such as diversity, inclusion and equality. 

Extinction Rebellion – Lloyd's

Extinction Rebellion commits to "non-violently disrupting business" at Lloyd’s

2022-05-11T11:45:00+01:00

Following on from the news this morning that Lloyd’s had cancelled its in-person annual general meeting (AGM) after threats from activists, Extinction Rebellion has responded by saying “we know that our tactics are working”.

Lloyds building

Lloyd’s cancels in-person AGM after eco-activist threat warning

2022-05-11T07:06:00+01:00

Lloyd’s is changing its annual general meeting (AGM) next week to a virtual event after receiving advice that the threat of disruption had risen “significantly”.

Chris Croft LV

Liiba’s CEO Croft: Government must help London market unlock $125bn net-zero opportunity

2022-05-10T07:37:13.2+01:00

A flexible regulatory framework will be “critical” if the London market is to realise the $125bn a year premium growth opportunity that could be unlocked from net-zero prospects, according to London & International Insurance Brokers’ Association (Liiba) CEO Christopher Croft.

IM-Nardac

Navigating (re)insurers’ role in the evolving hydrogen economy

2022-05-10T07:17:00+01:00

Brandon Statton, a founding partner at energy-focused wholesaler Nardac Insurance Services, shares his insight on the “green hydrogen revolution” and what role the (re)insurance industry can play to support its growth, as well as the potential opportunities it may bring.

Axa XL

Supporting the ESG transition – the critical role of insurance

2022-05-09T06:02:00+01:00

ESG has risen up the corporate agenda and is now a top priority for many businesses. But with the changes needed to achieve more sustainable business models comes changing risk. Luis Prato, chief underwriting officer, UK and Lloyd’s at Axa XL, discusses the important role of insurance in the process ...

WTW WWF

WTW and WWF partner on project to build Melanesia coastal resilience

2022-05-09T14:46:00+01:00

Broker WTW has partnered with the World Wide Fund for Nature (WWF) on a project focused on developing financial instruments to help build the resilience of fishing communities in coastal regions of Fiji and Papua New Guinea.

Futureproof

Climate insurtech FutureProof secures $6.5mn in Axis-led funding

2022-05-09T11:35:00+01:00

Climate-focused P&C insurtech FutureProof Technologies has raised $6.5mn in capital led by Axis Digital Ventures, with the funding to be used to launch an MGA.

Arch Trans Mountain

Arch rules out Trans Mountain pipeline coverage

2022-05-03T14:15:00+01:00

Arch Insurance has become the latest carrier to rule out providing any further coverage for the Trans Mountain tar sands pipeline, joining 17 other (re)insurers in severing ties with the project.

Allianz oil gas

Allianz commits to stop insuring new oil and gas projects by 2023

2022-05-03T12:25:00+01:00

Germany’s Allianz has pledged to stop underwriting or investing in any new oil and gas fields, oil power plants, midstream oil infrastructure and practices relating to the Arctic by January 2023.

Chris Croft – Liiba

Liiba: Net-zero opportunity could double size of London insurance market

2022-05-03T07:00:00+01:00

The value of the opportunity provided by the global transition to net zero is potentially large enough to double the size of the London insurance market, the London & International Insurance Brokers’ Association (LIIBA)’s CEO Christopher Croft has said.

World Bank

Japanese insurers back World Bank’s A$516mn climate bond

2022-04-28T09:26:00+01:00

The World Bank has issued an eight-year A$516mn ($368mn) sustainable development bond to support climate change mitigation with support from a group of Japanese insurers.

Fossil fuels

US lawmakers push major insurers to stop underwriting fossil fuels: reports

2022-04-27T15:05:00+01:00

A group of US lawmakers have sent a letter to more than a dozen insurance companies, including AIG, Berkshire Hathaway Specialty Insurance and Chubb, asking them to stop underwriting oil and gas projects, according to reports from Bloomberg.

Munich protests

Environmental groups urge Munich Re to stop insuring new fossil fuel projects

2022-04-27T12:31:00+01:00

Ahead of Munich Re’s annual general meeting on 28 April, German environmental groups Urgewald and the Association for Ethical Shareholders Germany have called on the reinsurer to stop insuring and investing in new oil and gas projects.

Chaucer – ESG

Chaucer outlines path to net zero by 2050

2022-04-27T12:20:00+01:00

Chaucer has unveiled a range of ESG commitments with the specialty (re)insurer pledging to achieve net-zero greenhouse gas emissions across its underwriting and investment portfolios by 2050.

MapFre

Mapfre joins net-zero alliance as commits to eliminate emissions by 2050

2022-04-27T07:30:00+01:00

Spanish insurer Mapfre has joined the Net-Zero Insurance Alliance (NZIA) with the objective of achieving greenhouse gas emissions neutrality and net-zero emissions in its insurance and reinsurance underwriting portfolios by 2050.

Scott Keller IACP

The challenges of change – climate, capital and Covid

2022-04-27T07:09:00+01:00

International Association of Claim Professionals (IACP) president Scott Kellers explains why transformation was the key message coming from the organisation’s annual European Conference.

Environmental insurance

Environmental rate increases to continue despite aggressive new entrants

2022-04-26T15:19:00+01:00

New capacity has piled into the environmental market in recent years, but observers expect an uptick in claim severity and frequency will keep rate rises at a stable level in 2022 or may even lead to slightly higher increases.