Latest news

Eiopa

EU insurance watchdog targets nat cat protection gap

2022-12-08T16:29:00+00:00

Europe’s insurance watchdog has launched an online platform to analyse the insurance protection gap for natural catastrophes across the continent. 

Axa – climate change

Axa launches specialist training module for risk managers to tackle climate risk

2022-12-07T16:28:00+00:00

Axa has extended the offering at its Climate School e-learning arm with the launch of a new digital training course to help risk managers better prepare for climate risks to their organisations.

Korean Re

Korean Re faces activist backlash over “loopholes” in new coal restrictions

2022-12-06T09:36:00+00:00

Korean Re, Asia’s second-largest reinsurance company, has become the latest reinsurer to unveil new restrictions on coverage for coal mining and power plant construction as part of a broader adoption of coal, oil and gas exclusions to reach net-zero targets.

Zurich Foundation

Zurich Foundation to launch Urban Climate Resilience Program

2022-12-06T13:49:00+00:00

Z Zurich Foundation, the charitable foundation formed by members of Zurich Insurance Group, is set to launch the Urban Climate Resilience Program (UCRP) to support vulnerable urban communities across 10 countries.

RSA

RSA launches low-carbon underwriting policy

2022-12-06T07:49:00+00:00

RSA has launched a new low-carbon underwriting policy which will see the insurer commit to achieving an underwriting portfolio for energy production that is over 75 percent low carbon by 2030.

KCC – Hurricane Nicholas

KCC releases climate-conditioned catalogues for hurricanes, floods and wildfires

2022-12-06T07:40:00+00:00

Cat modeller Karen Clark & Company (KCC) has released its complete stochastic climate-conditioned catalogues for the weather-related perils most impacted by climate change – hurricanes, floods and wildfires. 

Geneva Association

Geneva Association: Nature and biodiversity risks present industry opportunity

2022-12-05T08:22:00+00:00

The speed, scale and scope of nature and biodiversity loss present new risks and opportunities for (re)insurers, as an emerging ‘medium category’ environmental risk with significant potential impacts within the next five years, according to the Geneva Association.

ESG

Howden/Fidelis: Higher ESG ratings lead to improved underwriting performance

2022-12-02T08:21:00+00:00

Higher ESG ratings lead to better underwriting performance, according to a joint study from Howden and Fidelis which confirmed a correlation between strong climate rankings and lower loss ratios.

Swiss Re and Carbon Future

Swiss Re agrees carbon removal market standards partnership

2022-12-01T12:15:00+00:00

Swiss Re has signed a multi-year purchase agreement with climate tech start-up Carbonfuture to support high quality standards in the biochar carbon removal market.

Yokahu, FloodFlash and Vitesse

FloodFlash and Yokahu partner with Vitesse to speed up parametric payout times

2022-12-01T08:10:00+00:00

Climate risk insurance platform Yokahu and parametric insurtech FloodFlash have partnered with fintech Vitesse to accelerate relief payments to climate-vulnerable communities and SMEs following extreme weather events.

Munich Re and Sompo Holdings

Munich Re and Sompo feature in new ESG Top 100 ranking

2022-12-01T16:46:00+00:00

German reinsurer Munich Re and Japanese insurance holding company Sompo Holdings both feature in the new ‘Top 100 ESG Companies’ ranking by ESG Book, a provider of sustainability data and technology.

Terrence Shields The Hartford

The Hartford appoints Shields to new chief sustainability officer role

2022-12-01T15:45:00+00:00

The Hartford has appointed Terence Shields to the newly created role of chief sustainability officer.

Ageas

Ageas joins NZAOA to accelerate net-zero ambitions

2022-12-01T15:07:00+00:00

Belgian insurer Ageas has joined the UN-convened Net-Zero Asset Owner Alliance (NZAOA) to help support the carbon reduction ambitions set out in its Impact24 strategic plan.

Micro Insurance Network

Microinsurance Network unveils 13 new institutional members

2022-12-01T12:12:00+00:00

The not-for-profit Microinsurance Network (MiN) has revealed 13 new institutional members have joined its worldwide membership during 2022.

WTW – ESG

WTW survey highlights ESG’s rise up the corporate agenda

2022-11-30T13:57:00+00:00

ESG issues are continuing to rise up the corporate agenda, according to a new study by WTW which found that almost three quarters of risk managers consider an improved ESG score a core focus for their business.

David Howden

Howden: Insurers can contribute $2bn of private disaster capacity over next five years

2022-11-29T08:10:00+00:00

The insurance industry has the ability to deliver $2bn of privately funded capacity behind disaster relief projects in the next three to five years to address the widening humanitarian funding gap, according to David Howden.

Aegis Arch EACOP

Aegis and Arch rule out East Africa oil pipeline project

2022-11-28T13:55:00+00:00

Arch Insurance and Aegis London are the latest (re)insurers to rule out providing insurance for the East Africa Crude Oil Pipeline (EACOP) project.

NAIC copy 2

NAIC expresses “deep concerns” with US Treasury’s climate data proposal

2022-11-25T15:46:00+00:00

The National Association of Insurance Commissioners (NAIC) has hit back at the US Treasury’s proposal to collect climate-related data from property casualty carriers, stating in a letter that it is “disappointed and concerned” that insurance regulators were not engaged.

Scor climate

Scor launches sustainability fund targeting €500mn investment

2022-11-25T07:46:00+00:00

Scor Investment Partners has launched a new corporate loan fund focused on environmental sustainability and the preservation of natural capital.

FCA

FCA forms working group to develop ESG code of conduct

2022-11-23T16:07:00+00:00

The UK’s Financial Conduct Authority (FCA) has created a focus group to develop a code of conduct for ESG data and ratings providers.

Michel Lies IDF

IDF’s Liès: COP27 shows insurance to be a driver of systemic change

2022-11-23T13:22:00+00:00

The projects launched by the Insurance Development Forum (IDF) over the course of the COP27 meeting in Sharm El-Sheikh demonstrate the ability of the industry to influence systemic change through cross-sector collaboration, according to chairman Michel Liès.