Latest news

Marsh

Marsh launches D&O scheme that assesses ESG frameworks

2021-10-25T12:12:00+01:00

Marsh has launched a new D&O insurance initiative that will provide US-based clients with established ESG frameworks access to specialist coverage provided by a panel of four specialty carriers.

Diana Fox – WTW

WTW adds Fox Carney to climate resilience hub

2021-10-25T08:13:00+01:00

Willis Towers Watson has appointed British economist Diana Fox Carney as a strategic adviser in its climate resilience hub.

BMS climate change

BMS appoints Apex to provide carbon footprint assessment and reporting services

2021-10-25T09:07:00+01:00

BMS has appointed Apex Group to provide carbon footprint assessment and reporting services as part of its ESG commitments.

SiriysPoint Parameter Climate

SiriusPoint to provide paper for Parameter Climate after taking stake in start-up

2021-10-22T10:11:00+01:00

SiriusPoint has acquired an ownership stake in Parameter Climate, a climate underwriting and distribution advisory firm founded by weather risk management specialist Marty Malinow.

Tokio Marine Kiln and Carbon Chain

TMK to measure underwriting emissions with CarbonChain partnership

2021-10-22T09:54:00+01:00

Tokio Marine Kiln has partnered with CarbonChain, a start-up that helps companies automate accounting of their greenhouse gas emissions, to measure the carbon output of its underwriting decisions.

FCA and PRA

UK regulators issue climate risk guidelines

2021-10-22T07:08:00+01:00

The UK’s financial services regulators have issued updated guidance to help firms – including UK-headquartered (re)insurers – respond effectively to climate-related financial risks and shift operations towards net zero.

Thomas Buberl – Axa

Axa targeted by activists despite leading role in insurance climate debate

2021-10-21T16:02:00+01:00

On the eve of the global COP26 event, climate activists have today targeted Axa, Europe’s second largest insurer and also an organisation regarded as being one of the most dynamic financial services companies in implementing sustainability change.

Lloyd's

Lloyd’s tells managing agents to create ESG frameworks as it accelerates carbon underwriting oversight

2021-10-21T14:10:00+01:00

Managing agents will be expected to develop ESG strategies throughout next year that will be considered by Lloyd’s as part of the 2023 business planning cycle, the Corporation has revealed in its new ESG guidance to the market.

Howden

Howden: Disaster relief innovation could help unlock $1.5trn pension fund capital

2021-10-21T07:00:00+01:00

As much as $1.5trn in pension fund capital could be available to deploy in the (re)insurance space to help close the catastrophe protection gap, according to a study by Howden published today.

COP26 flag

Nephila: COP26 can “turbocharge” insurers’ ESG momentum

2021-10-21T06:36:00+01:00

Demand for executive education in areas such as sustainable finance has skyrocketed, according to the senior programme manager at ClimateWise, with an increasing number of boards acknowledging the need to change their business models.

CCR Geocorail

CCR backs coastal erosion start-up Geocorail

2021-10-21T11:30:00+01:00

French state-owned reinsurer Caisse Centrale de Réassurance has backed a €2.7mn ($3.1mn) funding round for coastal erosion-focused start-up Geocorail.

Axis fossil fuels

Axis commits to phase out thermal coal business

2021-10-20T13:36:00+01:00

Axis Capital has strengthened its commitments to support the transition to a low-carbon economy with a pledge to phase out thermal coal business from its insurance, facultative reinsurance and investment portfolios.

Allianz

Allianz to apply ESG principles to supplier contracts

2021-10-20T06:54:00+01:00

Allianz Insurance has said it will start applying environmental, social and governance factors for tenders in the UK, and has urged suppliers to reduce carbon emissions, recycle waste, use renewable energy and consider biodiversity elements for their premises.

Stonybrook Capital and Parhelion

Stonybrook replaces TigerRisk to lead ESG start-up Parhelion’s capital raise

2021-10-18T14:34:33.293+01:00

US boutique capital advisory and reinsurance intermediary firm Stonybrook Capital has replaced TigerRisk Capital Markets & Advisory as one of the bankers working on the capital raise for ESG-focused start-up Parhelion ahead of its planned 1 January 2022 launch, The Insurer can reveal.

Stop insuring fossil fuels

Climate activists target Baden-Baden Reinsurance Meeting

2021-10-18T13:36:00+01:00

Climate campaigners have gathered outside the Baden-Baden reinsurance conference to call on attendees to immediately stop underwriting and investing in fossil fuels.

Scor climate

Scor aligns capacity to WTW’s Climate Transition Pathway framework

2021-10-18T09:13:00+01:00

Scor has followed Liberty Specialty Markets in signing up to align capacity to Willis Towers Watson’s Climate Transition Pathway solution.

Adrian Cox – Lloyd's

Beazley receives green light for pioneering 2022 ESG syndicate in a box

2021-10-18T08:31:00+01:00

Lloyd’s largest insurer Beazley will now set its sights on a “successful” capital raise after receiving in-principle approval from Lloyd’s for its pioneering ESG syndicate, which will start writing business from 1 January 2022. 

Axa forest

Axa to invest €1.5bn to support sustainable forest management

2021-10-15T06:52:23.8+01:00

Axa has said it will invest €1.5bn ($1.7bn) to support sustainable forest management as part of its new plan to combat the deterioration of forest ecosystems.

Swiss Re

Swiss Re: Climate change to drive tripling of P&C risk pool by 2040

2021-10-15T06:30:00+01:00

Climate change is set to be one of primary drivers of P&C premium growth to $1.3trn by 2040, an increase of 188 percent on the current figure, according to Frank Reichelt, head of Northern, Central and Eastern Europe at Swiss Re.

Hannover Re

Hannover Re becomes latest carrier to commit to net zero

2021-10-13T06:52:00+01:00

Hannover Re has joined the UN-convened Net-Zero Insurance Alliance and has committed to becoming net zero in its reinsurance portfolio and investments by 2050 to support the Paris Agreement on climate change.

ESG collaboration

Broadening the conversation: Collaboration critical in building ESG agenda

2021-10-13T15:20:00+01:00

(Re)insurers have rapidly expanded their focus on ESG over the past year, with the issue rising in prominence across the insurance value chain.