50 Years of Climate Failure: 2023 Scorecard on Insurance, Fossil Fuels and the Climate Emergency

The Seventh Annual Scorecard

This is the seventh annual Scorecard on Insurance, Fossil Fuels and the Climate Emergency published by the Insure Our Future campaign. The Scorecard analyses 30 leading primary insurers and reinsurers, assessing their policies on insuring and investing in coal, oil and gas. The report highlights progress and loopholes, calls out leaders and laggards, and identifies challenges and opportunities for the year ahead.

The Insurance Industry Must End Support of New Fossil Fuels

Insurers adopting oil & gas exit policies

The number of insurance companies adopting oil and gas restrictions has slowed.
2020
suncorp Logos for Timeline (1)
2021
Generali AXA KBC Zurich Aviva
2022
Mapfre Hannover re Swiss Re Allianz Scoor Fidelis Munich Re
2023
2 Logos for Timeline 3 4

Number of insurers with fossil fuel restrictions, by sector

Insurance company restrictions on oil and gas are far weaker than on coal. At the time of the 2023 Scorecard's publication, 18 companies have adopted oil and gas restrictions while 45 insurance companies have restrictions on coal. Coal companies are finding it ever harder to get insurance for new projects and, increasingly, for existing operations.
Coal
45 companies
Tar Sands
26 companies
Oil & Gas
18 companies

Scorecard 2023

Scoring Key

0.0 - 1.4
1.5 - 3.4
3.5 - 7.0
7.1 - 10
Company Underwriting Investment
Scroll
Company Country Underwriting Investment
Total Coal Oil & Gas Total Coal Oil & Gas
Rank 1
Total 10 / 10
Rank 1
Total 10 / 10
Rank 2
Total 10 / 10
Rank 2
Total 10 / 10
Rank 3
Total 10 / 10
Rank 3
Total 10 / 10
Allianz
Germany
Germany
6.63 / 10
Rank 4
Total 6.63 / 10
Coal 10 / 10
Oil & Gas 3.74 / 10
10 / 10
Rank 1
3.74 / 10
Rank 3
4.0 / 10
Rank 9
Total 4.0 / 10
Coal 6.7 / 10
Oil & Gas 2.7 / 10
6.7 / 10
Rank 9
2.7 / 10
Rank 13
Generali
Italy
Italy
5.39 / 10
Rank 5
Total 5.39 / 10
Coal 8.33 / 10
Oil & Gas 4 / 10
8.33 / 10
Rank 4
4 / 10
Rank 1
5.8 / 10
Rank 2
Total 5.8 / 10
Coal 10 / 10
Oil & Gas 3.8 / 10
10 / 10
Rank 1
3.8 / 10
Rank 2
Aviva
United Kingdom
United Kingdom
5.06 / 10
Rank 6
Total 5.06 / 10
Coal 7.83 / 10
Oil & Gas 4.0 / 10
7.83 / 10
Rank 6
4.0 / 10
Rank 1
4.8 / 10
Rank 8
Total 4.8 / 10
Coal 7.8 / 10
Oil & Gas 3.3 / 10
7.8 / 10
Rank 7
3.3 / 10
Rank 8
Swiss Re
Switzerland
Switzerland
4.61 / 10
Rank 7
Total 4.61 / 10
Coal 8.82 / 10
Oil & Gas 3.34 / 10
8.82 / 10
Rank 3
3.34 / 10
Rank 5
5.6 / 10
Rank 3
Total 5.6 / 10
Coal 10 / 10
Oil & Gas 3.3 / 10
10 / 10
Rank 1
3.3 / 10
Rank 6
AXA
France
France
4.54 / 10
Rank 8
Total 4.54 / 10
Coal 9.33 / 10
Oil & Gas 1.98 / 10
9.33 / 10
Rank 2
1.98 / 10
Rank 9
5.6 / 10
Rank 3
Total 5.6 / 10
Coal 10 / 10
Oil & Gas 3.3 / 10
10 / 10
Rank 1
3.3 / 10
Rank 6
Hannover Re
Germany
Germany
3.94 / 10
Rank 9
Total 3.94 / 10
Coal 6.18 / 10
Oil & Gas 3.39 / 10
6.18 / 10
Rank 9
3.39 / 10
Rank 4
3.2 / 10
Rank 12
Total 3.2 / 10
Coal 3.3 / 10
Oil & Gas 3.1 / 10
3.3 / 10
Rank 11
3.1 / 10
Rank 9
Axis Capital
Bermuda
Bermuda
3.89 / 10
Rank 10
Total 3.89 / 10
Coal 8.24 / 10
Oil & Gas 1.34 / 10
8.24 / 10
Rank 5
1.34 / 10
Rank 13
4.9 / 10
Rank 5
Total 4.9 / 10
Coal 10 / 10
Oil & Gas 3.1 / 10
10 / 10
Rank 1
3.1 / 10
Rank 9
Zurich
Switzerland
Switzerland
3.54 / 10
Rank 11
Total 3.54 / 10
Coal 7.80 / 10
Oil & Gas 1.49 / 10
7.80 / 10
Rank 7
1.49 / 10
Rank 11
5.3 / 10
Rank 6
Total 5.3 / 10
Coal 10 / 10
Oil & Gas 2.9 / 10
10 / 10
Rank 1
2.9 / 10
Rank 11
Munich Re
Germany
Germany
3.22 / 10
Rank 12
Total 3.22 / 10
Coal 5.59 / 10
Oil & Gas 2.41 / 10
5.59 / 10
Rank 10
2.41 / 10
Rank 7
3.1 / 10
Rank 13
Total 3.1 / 10
Coal 3.3 / 10
Oil & Gas 2.9 / 10
3.3 / 10
Rank 11
2.9 / 10
Rank 11
SCOR Re
France
France
3.12 / 10
Rank 13
Total 3.12 / 10
Coal 6.47 / 10
Oil & Gas 1.68 / 10
6.47 / 10
Rank 8
1.68 / 10
Rank 10
10 / 10
Rank 1
Total 10 / 10
Coal 10 / 10
Oil & Gas 10 / 10
10 / 10
Rank 1
10 / 10
Rank 1
HDI Global
Germany
Germany
3.08 / 10
Rank 14
Total 3.08 / 10
Coal 4.67 / 10
Oil & Gas 2.54 / 10
4.67 / 10
Rank 12
2.54 / 10
Rank 6
3.5 / 10
Rank 11
Total 3.5 / 10
Coal 3.3 / 10
Oil & Gas 3.5 / 10
3.3 / 10
Rank 11
3.5 / 10
Rank 4
Mapfre
Spain
Spain
2.99 / 10
Rank 15
Total 2.99 / 10
Coal 5.17 / 10
Oil & Gas 2.08 / 10
5.17 / 10
Rank 11
2.08 / 10
Rank 8
4 / 10
Rank 9
Total 4 / 10
Coal 5 / 10
Oil & Gas 3.5 / 10
5 / 10
Rank 10
3.5 / 10
Rank 4
QBE
Australia
Australia
2.11 / 10
Rank 16
Total 2.11 / 10
Coal 4 / 10
Oil & Gas 1.20 / 10
4 / 10
Rank 13
1.20 / 10
Rank 15
5.1 / 10
Rank 7
Total 5.1 / 10
Coal 7.8 / 10
Oil & Gas 3.8 / 10
7.8 / 10
Rank 7
3.8 / 10
Rank 2
AIG
United States
United States
1.61 / 10
Rank 17
Total 1.61 / 10
Coal 2.67 / 10
Oil & Gas 1.30 / 10
2.67 / 10
Rank 14
1.30 / 10
Rank 14
2.4 / 10
Rank 14
Total 2.4 / 10
Coal 3.3 / 10
Oil & Gas 1.9 / 10
3.3 / 10
Rank 11
1.9 / 10
Rank 14
Chubb
United States
United States
1.52 / 10
Rank 18
Total 1.52 / 10
Coal 2 / 10
Oil & Gas 1.34 / 10
2 / 10
Rank 16
1.34 / 10
Rank 12
1.1 / 10
Rank 22
Total 1.1 / 10
Coal 3.3 / 10
Oil & Gas 0 / 10
3.3 / 10
Rank 11
0 / 10
Rank 22
Sompo
Japan
Japan
1.43 / 10
Rank 19
Total 1.43 / 10
Coal 2 / 10
Oil & Gas 1.17 / 10
2 / 10
Rank 16
1.17 / 10
Rank 16
2.2 / 10
Rank 17
Total 2.2 / 10
Coal 3.3 / 10
Oil & Gas 1.7 / 10
3.3 / 10
Rank 11
1.7 / 10
Rank 17
MS&AD
Japan
Japan
1.33 / 10
Rank 20
Total 1.33 / 10
Coal 2 / 10
Oil & Gas 1 / 10
2 / 10
Rank 16
1 / 10
Rank 17
2.2 / 10
Rank 18
Total 2.2 / 10
Coal 3.3 / 10
Oil & Gas 1.7 / 10
3.3 / 10
Rank 11
1.7 / 10
Rank 18
Tokio Marine
Japan
Japan
1.33 / 10
Rank 20
Total 1.33 / 10
Coal 2 / 10
Oil & Gas 1 / 10
2 / 10
Rank 16
1 / 10
Rank 17
2.2 / 10
Rank 18
Total 2.2 / 10
Coal 3.3 / 10
Oil & Gas 1.7 / 10
3.3 / 10
Rank 11
1.7 / 10
Rank 18
Samsung FM
South Korea
South Korea
1.31 / 10
Rank 22
Total 1.31 / 10
Coal 2.27 / 10
Oil & Gas 1 / 10
2.27 / 10
Rank 15
1 / 10
Rank 17
2.2 / 10
Rank 18
Total 2.2 / 10
Coal 3.3 / 10
Oil & Gas 1.7 / 10
3.3 / 10
Rank 11
1.7 / 10
Rank 18
The Hartford
United States
United States
1.28 / 10
Rank 23
Total 1.28 / 10
Coal 2 / 10
Oil & Gas 0.9 / 10
2 / 10
Rank 16
0.9 / 10
Rank 20
2.4 / 10
Rank 14
Total 2.4 / 10
Coal 3.3 / 10
Oil & Gas 1.9 / 10
3.3 / 10
Rank 11
1.9 / 10
Rank 14
Travelers
United States
United States
1.17 / 10
Rank 24
Total 1.17 / 10
Coal 2 / 10
Oil & Gas 0.9 / 10
2 / 10
Rank 16
0.9 / 10
Rank 20
2.4 / 10
Rank 14
Total 2.4 / 10
Coal 3.3 / 10
Oil & Gas 1.9 / 10
3.3 / 10
Rank 11
1.9 / 10
Rank 14
Ping An
China
China
0.56 / 10
Rank 25
Total 0.56 / 10
Coal 1.33 / 10
Oil & Gas 0 / 10
1.33 / 10
Rank 22
0 / 10
Rank 23
1.1 / 10
Rank 22
Total 1.1 / 10
Coal 3.3 / 10
Oil & Gas 0 / 10
3.3 / 10
Rank 11
0 / 10
Rank 22
Liberty Mutual
United States
United States
0.44 / 10
Rank 26
Total 0.44 / 10
Coal 1.33 / 10
Oil & Gas 0 / 10
1.33 / 10
Rank 22
0 / 10
Rank 23
1.1 / 10
Rank 22
Total 1.1 / 10
Coal 3.3 / 10
Oil & Gas o / 10
3.3 / 10
Rank 11
o / 10
Rank 22
Lloyd’s
United Kingdom
United Kingdom
0.08 / 10
Rank 27
Total 0.08 / 10
Coal 0.12 / 10
Oil & Gas 0.7 / 10
0.12 / 10
Rank 24
0.7 / 10
Rank 22
2.2 / 10
Rank 18
Total 2.2 / 10
Coal 3.3 / 10
Oil & Gas 1.7 / 10
3.3 / 10
Rank 11
1.7 / 10
Rank 18
W.R. Berkley
United States
United States
0 / 10
Rank 28
Total 0 / 10
Coal 0 / 10
Oil & Gas 0 / 10
0 / 10
Rank 25
0 / 10
Rank 23
1.1 / 10
Rank 22
Total 1.1 / 10
Coal 3.3 / 10
Oil & Gas 0 / 10
3.3 / 10
Rank 11
0 / 10
Rank 22
Berkshire Hathaway
United States
United States
0 / 10
Rank 28
Total 0 / 10
Coal 0 / 10
Oil & Gas 0 / 10
0 / 10
Rank 25
0 / 10
Rank 23
0 / 10
Rank 26
Total 0 / 10
Coal 0 / 10
Oil & Gas 0 / 10
0 / 10
Rank 26
0 / 10
Rank 22
Everest Re
Bermuda
Bermuda
0 / 10
Rank 28
Total 0 / 10
Coal 0 / 10
Oil & Gas 0 / 10
0 / 10
Rank 25
0 / 10
Rank 23
0 / 10
Rank 26
Total 0 / 10
Coal 0 / 10
Oil & Gas 0 / 10
0 / 10
Rank 26
0 / 10
Rank 22
PICC
China
China
0.0 / 10
Rank 28
Total 0.0 / 10
Coal 0.0 / 10
Oil & Gas 0.0 / 10
0.0 / 10
Rank 25
0.0 / 10
Rank 23
0.0 / 10
Rank 26
Total 0.0 / 10
Coal 0.0 / 10
Oil & Gas 0.0 / 10
0.0 / 10
Rank 26
0.0 / 10
Rank 22
Sinosure
China
China
0 / 10
Rank 28
Total 0 / 10
Coal 0 / 10
Oil & Gas 0 / 10
0 / 10
Rank 25
0 / 10
Rank 23
0 / 10
Rank 26
Total 0 / 10
Coal 0 / 10
Oil & Gas 0 / 10
0 / 10
Rank 26
0 / 10
Rank 22
Starr
United States
United States
0 / 10
Rank 28
Total 0 / 10
Coal 0 / 10
Oil & Gas 0 / 10
0 / 10
Rank 25
0 / 10
Rank 23
0 / 10
Rank 26
Total 0 / 10
Coal 0 / 10
Oil & Gas 0 / 10
0 / 10
Rank 26
0 / 10
Rank 22

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