Reinsurance News
climate risk
Climate risk related insurance and reinsurance news and analysis.
The impacts of climate related risks are a key topic for the insurance and reinsurance industry, while providing risk transfer solutions to hedge against and protect from climate risk related losses is an important area of innovation for the market.
Ariel Re provides performance guarantee cover for sustainable waste firm
26th April 2022
Bermuda-based reinsurer Ariel Re has insured the long-term performance warranty of Ecogensus, a technology firm focused on delivering sustainable waste management solutions. Through its Lloyd’s Syndicate 1910, Ariel Re will provide insurance coverage to backstop comprehensive performance guarantees for Ecogensus’ recyclers, which process solid waste into high performance biofuels. In addition to ... Read the full article
The Hartford sets 2050 net zero target for all operations
8th April 2022
US property and casualty insurer, The Hartford, has announced its goal to achieve net zero Greenhouse Gas Emissions (GHGe) for its full range of businesses and operations by 2050, in alignment with the Paris Climate Accord. The goal is in addition to the company’s existing targets, where they aim to operate ... Read the full article
Adaption “absolutely key” in world facing growing climate risks: Munich Re’s Rauch
5th April 2022
With increasingly severe floods, storms and wildfires set to make some places “uninhabitable”, and insurance cover too costly, there is now an urgent need for greater investment in making communities more resilient and in adapting to climate impacts, Chief Climate and Geo Scientist at global reinsurance giant Munich Re, Ernst ... Read the full article
Verisk forms Climate Advisory Council
5th April 2022
Verisk has announced the formation of a Verisk Climate Advisory Council, whose members will provide strategic guidance and feedback on climate change solutions the company is developing. The ongoing research of the council members will help ensure that Verisk is well-informed on the latest climate change research and analyses, the firm ... Read the full article
Mexico launches IDF-backed parametric climate solution for farmers
25th March 2022
The Government of Mexico has announced the launch of a tripartite project to develop a sovereign parametric insurance solution for climate-vulnerable smallholder farmers, supported by investments in long-term risk finance and insurance market development. The solution represents a partnership between the Ministry of Finance & Public Credit, the Insurance Development Forum ... Read the full article
New Swiss Re climate policy targets shift away from oil & gas
17th March 2022
Swiss Re has announced a new climate policy that includes commitments to shift away from the most carbon-intensive oil and gas production. By 2025, the reinsurer says that half of its overall oil and gas premiums are to come from companies that are aligned with net zero by 2050, and by ... Read the full article
Is MAPFRE about to change its climate policy?
11th March 2022
MAPFRE will reportedly update its climate policy ‘significantly’ at its latest AGM, according to the pressure group Insure Our Future. According to Insure Our Future, MAPFRE, “ coal, gas and oil companies that do not commit to an energy transition plan that allows global warming to be maintained at around 1.5C." MAPFRE ... Read the full article
European insurers see adaptation as vital as IPCC warns of irreversible climate impacts
28th February 2022
As the Intergovernmental Panel on Climate Change (IPCC) releases its latest report, insurers and reinsurers across Europe agree that adaptation is vital to ensure climate resilience, reports Insurance Europe. The European insurance and reinsurance federation, Insurance Europe, "fully supports the need for a very strong focus on adaptation, as suggested by ... Read the full article
IDF in disaster risk partnership for climate-vulnerable countries
18th February 2022
The Insurance Development Forum (IDF), a public-private partnership led by the insurance industry and supported by the UN, World Bank and other international organisations, has entered into a new trilateral partnership with MapAction and Start Network. The partnership will work to accelerate anticipatory action and disaster risk reduction in eight climate-vulnerable ... Read the full article
Activists claim Lloyd’s CEO is failing on market’s ESG commitment
17th February 2022
Environmental activists have accused Lloyd’s CEO John Neal of failing to sufficiently align Lloyd’s policies with the climate rhetoric that has been repeatedly touted by the insurance and reinsurance marketplace. Lloyd’s has consistently expressed support for environmental, social and governance (ESG) measures within its marketplace in order to help accelerate the ... Read the full article
Swiss Re CorSo and green energy financier in $500m co-investment program
1st February 2022
Swiss Re Corporate Solutions has entered into a partnership with renewable energy financier NORD/LB on a $500 million ESG co-investment programme to enable more investment into renewable energy projects. The programme is ESG-certified by Sustainalytics and uses pre-agreed eligibility criteria to allow more efficient deployment of capacity to renewable energy projects. The ... Read the full article
Net zero re/insurers commit to further climate targets
28th January 2022
Insurers and reinsurers forming part of the UN-Convened Net-Zero Asset Owner Alliance have committed to a further set of climate targets that aim to reduce the impact of global warming. The Alliance is formed of 69 asset owner members, including Swiss Re, Munich Re, SCOR, Zurich, AXA, QBE, Generali, L&G and ... Read the full article
Marsh and Risilience collaborate on informing customers about climate change
25th January 2022
Marsh and Risilience are to collaborate on a risk platform to help the former’s clients understand the risks resulting from climate change. The project, done through Risilience’s risk platform, will reportedly help clients map their journey towards net zero and help them generate annual climate risk reports that fall into line ... Read the full article
Insurers show continued climate improvements: ClimateWise
24th January 2022
A new report by global insurance industry collaboration ClimateWise has found continued improvements in efforts to address climate change among its member companies. The initiative’s 2021 Independent Review highlights increased value chain collaboration to enhance understanding of climate risks and opportunities and enable net-zero objectives within and beyond the industry. The independent ... Read the full article
Net zero goals top LIIBA’s agenda for 2022
24th January 2022
The London and International Insurance Brokers’ Association (LIIBA) has highlighted the issue of how to achieve net zero goals as one of its key goals for 2022, as leaders brace for another year of change at an “unprecedented pace.” In its agenda for this year, LIIBA said that the government’s desire ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
