Latest news
Investor LGIM drops AIG over ‘insufficient’ climate actions
Legal & General Investment Management (LGIM), one of the world’s largest asset managers, has removed AIG from its funds due to “insufficient action” from the US insurer to address the risks posed by climate change.
G7 pledge funds to scale up climate resilience funding
Leaders of the G7 countries have agreed on plans to scale up protection for the world’s most vulnerable communities against the impacts of climate change.
WTW partners with WWF to boost coastal resilience in Fiji and Papua New Guinea
Willis Towers Watson is to lead the implementation of a project to support the financial resilience of coastal communities in Fiji and Papua New Guinea.
Lloyd’s Neal: Shift to low carbon economy “an opportunity, not a threat” for industry
The transition to a low carbon economy should be seen as an opportunity for the insurance market and not a threat, with the move the greatest single underwriting opportunity that many in the industry will see in their careers, according to Lloyd’s CEO John Neal.
Marsh McLennan teams up with NBMBAA and Fisk for fellowship programme
Marsh McLennan has partnered with the National Black MBA Association (NBMBAA) and Fisk University to launch a global MBA fellowship programme.
UK government to crack down on greenwashing
HM Treasury has launched an independent expert group to advise on standards for green investment and clamp down on greenwashing amid the transition to a net-zero economy.
UN calls for insurers to end coal underwriting as part of net-zero drive
UN secretary-general António Guterres has called on more insurers to align their investment and underwriting portfolios with net zero by 2050 goals, stating that the industry has a “key role” to play in addressing the climate crisis.
Bank of England launches scenarios for climate stress test
The Bank of England has formally launched its Climate Biennial Exploratory Scenario stress test, which will examine the financial risks posed by climate change for the largest UK banks and insurers.
European (re)insurers back nature-related financial disclosures
European insurers have joined forces with leading banks and asset managers to back the launch of the new Taskforce on Nature-related Financial Disclosures (TNFD).
IDF sets out goals for COP26 as G7 strengthens resolve on climate disclosures
The Insurance Development Forum (IDF) has embarked on an “ambitious risk modelling agenda” which it hopes will result in the unveiling of a major initiative at this November’s COP26 climate talks.
The ESG Interview: Axa’s Thomas Buberl on meeting climate and biodiversity challenges
Axa’s CEO answers our questions on the role the industry can play in helping create a more sustainable future
Industry has opportunity to step up as political momentum builds
Political focus on climate action has escalated over the past month with the insurance sector positioned to play an increasingly prominent role in creating solutions to enable a more sustainable future.
QBE takes steps to address mental health and employee wellbeing
QBE has taken several steps to address mental health and employee wellbeing, with the carrier also recently unveiling a customer self-assessment tool, developed in collaboration with Mind, which enables companies to assess and enhance their mental health and wellbeing strategy.
Beazley and Parhelion plans highlight ESG’s rise up underwriting agenda
The notion that firms that adhere to ESG principles represent a better risk is one that has been gaining traction, and market recognition of this has been demonstrated by two announcements of the creation of dedicated capacity for strong-performing companies.
COP26 brings opportunity for industry to take leadership role
Ekhosuehi Iyahen, secretary general of the Insurance Development Forum (IDF), believes insurers can play a prominent leadership role at the COP26 climate talks in Glasgow this November
Diversity and Inclusion: Aon’s Lisa Stevens on shaping the modern workforce
Lisa Stevens, chief people officer at Aon, outlines how the broker is addressing ESG challenges and steps the industry can take to be more inclusive
Technology’s role in climate-related financial risk management
The Organisation for Economic Co-operation and Development has estimated that $6.9trn a year until 2030 needs investing to meet the Paris Agreement climate change objectives.
Four metrics for tracking the near-term value of ESG strategies
The right metrics can accurately gauge the impact of ESG strategies and progress toward goals, writes Penney Frohling, EY-Parthenon partner and EMEIA financial services strategy leader
UK climate stress test a sign of increasing scrutiny of insurer climate risk
The Bank of England’s climate stress test is a sign that central banks and international regulators are looking to “ramp up” oversight of insurer climate risk, according to Guy Carpenter’s managing director of catastrophe advisory Jessica Turner.
BoE’s Bailey calls on central banks to collaborate on climate resilience
Bank of England governor Andrew Bailey has urged international central banks, regulators and policymakers to come together to address the threat of climate change, warning that a joined-up approach is needed to maintain financial stability.
Argo will not renew Trans Mountain pipeline coverage
Argo Group International Holdings has said it will not renew cover for the Trans Mountain pipeline in Canada when its current insurance policy expires in August 2021.
Where next for ILS?
WTW unveils project to develop Mesoamerican Reef parametric cover
Swiss Re’s Haegeli: Standardised reporting essential for insurer ESG investment
DBRS Morningstar: Insurer sustainable investments to drive transition to low-carbon economy
ESG-focused Parhelion brings in TigerRisk as eyes $500mn capital raise after securing Howden seed funding
BoE governor warns data not robust enough to adjust capital for climate factors
Beazley to launch ESG consortium with new SIAB to provide follow capacity
Swiss regulator to mandate insurer climate disclosures
AIG, Lloyd’s and Tokio Marine targeted by climate protesters over fossil fuels insurance
PRA plans to further build out climate focus in regulatory strategy
Marsh Specialty’s Clarke: London faces ‘pivotal moment’ in insuring transition to net zero
(Re)insurers can help educate on climate and change behaviours
Ex-Markel cyber leader Owens targeting ESG move after time off
EU insurers warn on “overly complex” ESG disclosures requirements
Australian carriers warned climate litigation to become “very significant exposure”
Adani mine contractor faces insurance crisis as carriers refuse to provide cover
Lloyd’s broker AHJ achieves carbon neutral accreditation
ABI steps up ESG focus with commitment to UN framework
Guernsey launches ESG insurance framework
UK City minister backs industry net-zero commitments
Ascot and Argo partner with Tierra on green credit insurance offering
WTW’s Aubert: sector must lead economic transition to low carbon
PRI: consistency and clarity needed across ESG initiatives
CSRC introduces consultation over strengthened ESG disclosures for listed firms
Suncorp’s Johnston calls for faster action on climate mitigation
French insurers ordered to step up response to climate change
Next decade critical for insurers in net-zero push
Four actions insurers can take to advance the sustainability agenda
Is the race for digital transformation leaving equality, diversity and inclusion behind?
Marsh McLennan’s Glaser – “Change is up to all of us”
Scor’s Kessler: “A world without reinsurance is not liveable”
Axa launches Climate School
The ESG Tracker: April’s key ESG actions and initiatives
Liberty ends Baralaba South plans as pressure mounts on carriers to exit coal
WTW launches accreditation framework to identify progress in emissions reduction
Allianz to phase out coal-based business models in P&C insurance by 2040
Talanx to phase out underwriting carbon-intensive industries by 2038
Axa launches Progress Index in ESG push
Scor steps up commitment to reduce carbon intensity of investment portfolio
Arch rules out Adani Carmichael coal mine coverage
BDA launches bid to become global climate risk finance capital
Australian regulator issues draft climate change guidance
Working toward a sustainable future
Swiss Re: Global GDP could drop 18% by 2050 without climate mitigation action
Allianz’s Bäte: Sector must deliver on net zero over next decade
European (re)insurers join UN-backed net-zero alliance