Major Insurers Invest US $7.9 Billion in Oil & Gas Companies Active in the North Sea
February 8, 2022—Since 2019, 15 of the world’s major insurance companies have invested US $7.9 billion in companies conducting oil and gas drilling in the North Sea, which lies between the British Isles and mainland Europe. The research was conducted by Profundo and published by The Ferret. U.S. companies AIG and Travelers were among the …
Documents Reveal Chubb, MAPFRE, and Tokio Marine Backing Massive Offshore Oil Expansion in Brazil
AXA, Liberty Mutual, and others also implicated in Brazil’s oil expansion plans, despite the IEA’s warnings that limiting warming to 1.5°C requires an end to all fossil fuel expansion January 20, 2022 — Global insurance companies Chubb, MAPFRE, and Tokio Marine insure the majority of Brazil’s offshore oil and gas drilling, according to a report …
Coal Exit Policies Add Billions of Dollars to Insurers’ Shareholder Value, Analyst Report Suggests
The following commentary by Peter Bosshard first appeared in Environmental Finance. Climate campaigners have pushed insurance companies to exit the coal sector for many years. They have now received support from an unexpected source: financial analysts. “We think the insurance sector’s most important contribution to ESG is exiting coal underwriting”, a recent report issued by the …
The Global Insurance Industry’s $6 Billion Existential Threat: Coal Power
Silvio Marcacci | Forbes | May 22, 2019
Insurance companies face catastrophic damage from climate change, yet they continue insuring and funding the biggest cause of those damages instead of preventing the “existential threat” of inaction on climate policy.
Are U.S. Insurance Companies Missing the Biggest Risk of All?
When thousands of experts and practitioners in the insurance industry and risk management field gather later this month, will the conversations reflect the urgency with which we need to address the biggest risk of all – climate change? Will they acknowledge the US insurance industry’s role supporting the drivers of climate change?
Europe’s Largest Insurers Move To Limit Coal And CO2-Related Risks
Ken Silverstein | Forbes | December 7, 2018
Just as 200 nations are meeting in Poland to discuss their climate initiatives, Europe’s insurance sector is unleashing its own plan: it is increasing the pace of its investments in green energy while divesting of some businesses that are carbon intensive. Will American insurers make similar moves?
US insurers are missing the boat on coal
By Peter Bosshard | Thomson Reuters Foundation
After warning about the escalating risks of climate change for decades, many big insurers are now moving away from coal.
As professional risk managers, insurance companies quietly shape modern society, deciding what type of projects can be financed, built and operated. After warning about the escalating risks of climate change for decades, many big insurers are now moving away from coal. Only the US insurance industry is missing in action.
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