ESG

The Canadian mutual only announced its membership to the NZIA less than two months ago, joining several high-profile carriers to have exited the alliance.

The investigation enquires into how the US insurance industry evaluates, invests in or underwrites fossil fuel expansion projects.

The structure envisages bringing in philanthropic capital to provide project funding to mitigate disaster risk as part of ILS deals.

Munich Re, Swiss Re, Hannover Re and Zurich have all abandoned the project in the past eight weeks.

A report from WTW and the Institute of International Finance has found little correlation between companies’ operation emissions intensity and their climate transition value-at-risk.

The Swiss reinsurer follows Munich Re, Hannover Re and Zurich in withdrawing from the alliance.

In the latest threat to the NZIA, 23 state AG have warned members that collaboration on decarbonization targets may not square with federal law.

Beneva has signed up to net-zero targets as a member of the NZIA, following a period of turbulence in which Munich Re, Zurich and Hannover Re have left the alliance.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Zurich’s decision comes less than a week after Munich Re decided to withdraw from the UN-backed initiative.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Industry climate alliances have received allegations from conservative politicians and regulators in the US that such commitments are illegal group activities that violate antitrust laws.