Latest news
Marsh launches D&O scheme that assesses ESG frameworks
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.
WTW adds Fox Carney to climate resilience hub
Willis Towers Watson has appointed British economist Diana Fox Carney as a strategic adviser in its climate resilience hub.
BMS appoints Apex to provide carbon footprint assessment and reporting services
BMS has appointed Apex Group to provide carbon footprint assessment and reporting services as part of its ESG commitments.
SiriusPoint to provide paper for Parameter Climate after taking stake in start-up
SiriusPoint has acquired an ownership stake in Parameter Climate, a climate underwriting and distribution advisory firm founded by weather risk management specialist Marty Malinow.
TMK to measure underwriting emissions with CarbonChain partnership
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.
UK regulators issue climate risk guidelines
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.
Axa targeted by activists despite leading role in insurance climate debate
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 tells managing agents to create ESG frameworks as it accelerates carbon underwriting oversight
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: Disaster relief innovation could help unlock $1.5trn pension fund capital
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.
Nephila: COP26 can “turbocharge” insurers’ ESG momentum
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 backs coastal erosion start-up Geocorail
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 commits to phase out thermal coal business
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 to apply ESG principles to supplier contracts
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 replaces TigerRisk to lead ESG start-up Parhelion’s capital raise
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.
Climate activists target Baden-Baden Reinsurance Meeting
Climate campaigners have gathered outside the Baden-Baden reinsurance conference to call on attendees to immediately stop underwriting and investing in fossil fuels.
Scor aligns capacity to WTW’s Climate Transition Pathway framework
Scor has followed Liberty Specialty Markets in signing up to align capacity to Willis Towers Watson’s Climate Transition Pathway solution.
Beazley receives green light for pioneering 2022 ESG syndicate in a box
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 to invest €1.5bn to support sustainable forest management
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: Climate change to drive tripling of P&C risk pool by 2040
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 becomes latest carrier to commit to net zero
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.
Broadening the conversation: Collaboration critical in building ESG agenda
(Re)insurers have rapidly expanded their focus on ESG over the past year, with the issue rising in prominence across the insurance value chain.
Greenwashing – its manifestation and prevention
Growth through differentiation: four principles for mutual insurers
Collaboration is key: Katie Lennon sets out the ESG priorities for Axa XL
Gallagher Re working with 20 reinsurers to expand Deposit Unlock scheme
Zurich launches multi-year climate resilience and social inequities program
Generali commits to invest €3bn in sustainable and green bonds by end of 2022
Eiopa unveils strategic focus on ESG, protection gaps and cyber
AM Best questions impact of EU’s capital reforms on green investment
NAIC leaders to discuss climate protection gap during Bermuda visit
Howden calls for cross-industry collaboration in plugging disaster relief funding gap
ESG start-up Parhelion in strategic partnership talks ahead of targeted 1.1 launch
Tokio Marine joins thermal coal retrenchment trend
The climate change challenge…
ARC joins UN Net-Zero Asset Owner Alliance
Axa XL appoints MacFarlane as head of climate
Why green is the new gold
UK (re)insurance industry calls for “leadership” from PM on climate issues
Fitch: ESG cat bonds a “catalyst” for ILS market growth
Insurtechs should be seen as value-add innovators not competitors
How ESG ratings impact total shareholder return
Developing an effective ESG sustainability and responsibility programme
Meeting the climate challenge: the #ReinsuranceMonth debate
Kunreuther: Climate change “uninsurable” if left to the private sector alone
Fidelis targets more sustainable future
Lloyd’s names Clement sustainability director
Lloyd’s Neal: climate change “biggest opportunity industry has ever seen”
Insurers call for post-Brexit Solvency II overhaul to aid green transition
Zurich launches carbon-neutral equity fund
Prioritising insurance affordability and risk awareness will help create a more sustainable future
IPCC climate change report raises the stakes for insurers
Zurich implements new measures to cut carbon emissions
Swiss Re: Climate risk to grow property risk pool by ~40% by 2040
UK government ups pressure on firms to sign up for climate targets
Munich Re raises €1bn through second green bond
LSM steps up climate change efforts after aligning capacity to support CTP
US Treasury’s FIO requests information on climate risks in insurance
European carriers outpace US and Japanese rivals on fossil fuel restrictions
US regulators ramp up efforts to assess insurers’ climate-related financial risks
Cat bonds have bounced back. Can it last? And can they go green?