Latest news
Biba display of ESG credentials highlights rise up agenda
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 signs MoU to create €1bn regenerative agriculture fund
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 joins Net-Zero Insurance Alliance
Bermudian carrier Fidelis has become the latest insurer to join the UN-convened Net-Zero Insurance Alliance (NZIA).
Swiss Re: Investors to increase focus on the S in ESG
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 commits to "non-violently disrupting business" at Lloyd’s
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”.
Lloyd’s cancels in-person AGM after eco-activist threat warning
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”.
Liiba’s CEO Croft: Government must help London market unlock $125bn net-zero opportunity
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.
Navigating (re)insurers’ role in the evolving hydrogen economy
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.
Supporting the ESG transition – the critical role of insurance
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 and WWF partner on project to build Melanesia coastal resilience
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.
Climate insurtech FutureProof secures $6.5mn in Axis-led funding
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 rules out Trans Mountain pipeline coverage
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 commits to stop insuring new oil and gas projects by 2023
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.
Liiba: Net-zero opportunity could double size of London insurance market
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.
Japanese insurers back World Bank’s A$516mn climate bond
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.
US lawmakers push major insurers to stop underwriting fossil fuels: reports
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.
Environmental groups urge Munich Re to stop insuring new fossil fuel projects
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 outlines path to net zero by 2050
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 joins net-zero alliance as commits to eliminate emissions by 2050
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.
The challenges of change – climate, capital and Covid
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 rate increases to continue despite aggressive new entrants
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.
Aviva CEO Blanc to lead new UK gov net-zero task force
Syndicate 2525 introduces electric vehicle incentive to reduce carbon footprint
ESG scrutiny intensifies as multiple stakeholders monitor industry progress
Putting the S back into ESG – why inclusive insurance is a win-win for all
Conduit Re’s Eckert: ESG momentum has “never been stronger”
BMS’ Prior: Strong ESG credentials can help attract new talent
Aspen will not renew Trans Mountain pipeline coverage
Intact unveils net-zero commitment and launches wetlands partnership
IDF appoints Liès to succeed Duverne as chair of steering committee
Fidelis looks to Swiss Re for sustainability head as Riega exits
Aon and BNY Mellon create data partnership to boost ESG investments
Lloyd’s building reopens following Extinction Rebellion protest
Lloyd’s closes building following Extinction Rebellion protest
Allianz and Munich Re boycott coverage for African oil pipeline
Climate activists block entry to Lloyd’s in latest protest against fossil fuel underwriting
US insurance regulators adopt new climate risk disclosure standard
Chubb tells shareholders to vote against fossil fuel restrictions proposal at AGM
The Hartford commits to net zero across its operations by 2050
Generali and UN partner to support developing nations’ insurance access
Zurich defends net-zero strategy following activist criticism
Proposed SEC rule could signal acceleration of climate regulatory activity
Zurich targeted by activists over fossil fuel insurance
Goldman Sachs: Insurers holding over $13trn prioritise yield and ESG in investment decisions
Verisk forms climate advisory council to provide strategic guidance
RenRe promotes James to oversee global ESG strategy
RenRe’s O’Donnell to replace Christian as ClimateWise chair
ISS urges vote against Swiss Re chair Ermotti in diversity dispute
Marsh McLennan outlines path to net zero by 2050
Insurance leaders to present Resilience UK initiative to Chinese gov officials
BMS hires Chubb’s Erwin for diversity and inclusion role
WTW adds to net-zero expertise with Noss hire
Menzinger: Governments increasing engagement on public-private resilience solutions
Mexican parametric launch aims to build resilience of smallholder farmers
Swiss Re oil and gas policy adds new momentum to industry shift away from fossil fuels
Lloyd’s ESG leaders: This year’s top-ranking managing agents
AIG moves “from laggard to leader” on climate commitments
Mapfre joins ranks of carriers linking remuneration to ESG objectives
Lloyd’s Clement: “We must use our leverage to drive positive behaviour”
ESG: more important now than it’s ever been
Hannover Re and Scor boycott coverage for African oil pipeline
IDF launches parametric climate insurance solution for Mexico’s farmers
Chaucer nuclear Syndicate 1176 sees long-term opportunity from low-carbon agenda
Argo plans to introduce ESG strategy for Lloyd’s managing agency in 2022
Lemonade launches crypto parametric climate insurance platform
MS Amlin’s Lloyd’s unit commits to net zero by 2050
Canadian P&C players partner to battle urban flood risk
RenRe names Carr head of climate and sustainability strategy
Carnegie-Brown: Market must take “tough decisions” on climate laggards
Marsh launches ESG Risk Rating tool
Alok Sharma: Insurers must “act faster” in addressing climate risks