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climate change

Re/insurance has major role in tackling climate change: Swiss Re’s Baertschi

20th July 2020

In the wake of the COVID-19 pandemic, the insurance industry must reflect on the lessons it has learned and take a stance as a major player in the fight against climate change. This is according to Urs Baertschi, Chief Executive Officer Reinsurance EMEA / Regional President EMEA at Swiss Re, who ... Read the full article

AXA inks insurance contract with low-carbon cement manufacturer

15th July 2020

Global insurer AXA is to provide Hoffmann Green Cement Technologies with an insurance contract protecting the manufacturing process of its low-carbon H-UKR cement. H-UKR cement is a binder perfected and developed by Hoffmann Green that has a substantially lower carbon footprint than traditional varieties. Hoffmann Green now has a contract covering the ... Read the full article

Industry leaders call for investment in climate resilience

6th July 2020

A panel of industry leaders at a Coalition for Climate Resilient Investment (CCRI) event have called for a systemic shift in the way projects are financed to build resilience to climate change. With $90 trillion in infrastructure investment needed globally over the next decade to achieve global growth expectations, speakers argued ... Read the full article

InsuResilience Solutions Fund signs grant agreement with MiCRO, SBS Seguros Colombia

26th June 2020

The InsuResilience Solutions Fund, represented by the Frankfurt School of Finance and Management, has signed a grant agreement to help strengthen Colombia’s resilience to natural catastrophes. Under the condition that the applicants commit a meaningful own contribution of 50% of the requested funding, ISF provides grants of up to €2.5 million. The ... Read the full article

Climate change & cyber growing priorities for re/insurers: LCP

22nd June 2020

A new report by pension, insurance and investment consultancy firm Lane Clark & Peacock LLP (LCP) has found that climate change and cyber risk are seen as the main rising priority areas for re/insurance firms. An analysis of early Solvency II disclosures by 50 re/insurers across the UK and Ireland found ... Read the full article

Now is the time to address the climate change challenge: Jeworrek, Munich Re

15th June 2020

Torsten Jeworrek, Chief Executive Officer (CEO) of Reinsurance at Munich Re, has said that now is the time to "finally and consistently" address the climate change challenge. In recent months, the global outbreak of COVID-19 has unsurprisingly dominated headlines and, as a result, many have lost sight of the long-term global ... Read the full article

SCOR signs up to UN carbon neutral investment pledge

28th May 2020

SCOR has signed up to the Net-Zero Asset Owner Alliance, an international group of institutional investors that have committed to decarbonise their portfolios to net-zero emissions by 2050. Convened by the United Nations (UN), the Alliance aims to help avoid a global temperature increase above the 1.5°C Paris target, and already ... Read the full article

PRA postpones insurance & climate stress tests due to Covid-19 pressures

7th May 2020

The UK's Prudential Regulation Authority (PRA), part of the Bank of England, has announced that the planned 2019 insurance stress test results will now not be published, as it pauses further work in this area due to the impacts of the Covid-19 pandemic. The PRA said that its focus is on ... Read the full article

Apply COVID-19 lessons to climate change, urges Swiss Re’s Ojeisekhoba

23rd April 2020

The re/insurance industry must be prepared to apply the lessons learned from the coronavirus (COVID-19) pandemic to the looming climate change crisis, according to Swiss Re’s CEO of Reinsurance, Moses Ojeisekhoba. Writing in a blog post for Swiss Re, Ojeisekhoba argued that the clearest take-away from the pandemic is the need ... Read the full article

GC climate report questions “culture of reliance” on state aid

20th April 2020

A report by re/insurance broker Guy Carpenter has questioned the “culture of reliance” on state assistance for disaster relief, which has emerged as governments increasingly bear the costs of climate change. Guy Carpenter noted that climate change is exacerbating the challenges faced by governments, with natural catastrophes becoming more frequent and ... Read the full article

Swiss Re extends climate policy to exclude oil & gas

21st February 2020

Swiss Re has announced that it will stop providing re/insurance to, or investing in, the most carbon-intensive oil and gas companies, as part of its sustainability targets. In line with this policy, Swiss Re will gradually cut business support in underwriting and asset management to the world’s 10% most carbon-intensive oil ... Read the full article

Munich Re signs up to UN carbon-neutral investment pledge

14th February 2020

German reinsurer Munich Re has signed up to the Net-Zero Asset Owner Alliance, an international group of institutional investors that have committed to decarbonise their portfolios to net-zero emissions by 2050. Convened by the United Nations (UN), the Alliance aims to help avoid a global temperature increase above the 1.5°C Paris ... Read the full article

Australian disasters highlight need for long-term resilience: Aon analysts

13th February 2020

The increasing frequency and severity of weather-related disasters in Australia highlight a need to focus on more long-term resilience measures, according to analysts at re/insurance broker Aon. Australia recorded one of its most notable years for weather disasters in 2019, which is already the fifth largest insured loss year over the ... Read the full article

Policymakers must help stimulate sustainable investment: Insurance Europe

13th February 2020

In order to transition to a carbon-neutral economy, more policymaker action is needed to stimulate the supply of sustainable assets for investment, according to Insurance Europe, the European insurance and reinsurance federation. Analysts at Insurance Europe claimed that re/insurers are ready to invest in sustainable assets, but said their willingness and ... Read the full article

Beazley sees opportunity in new forms of climate change cover, says CEO

12th February 2020

Andrew Horton, Chief Executive Officer (CEO) of specialist re/insurer Beazley, has said that he is confident that the market can adapt the potential impacts of climate change, and sees the climate challenge as an opportunity to explore new forms of coverage. As part of the release of Beazley’s 2020 results, ... Read the full article

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