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VIG lacks ambition as it slows on progress: Insure Our Future statement on updated sustainability policy

Vienna, 15 May 2024 – In response to Vienna Insurance Group’s updated sustainability rules:

Analysis: Chubb’s new conservation and methane standards remain inadequate but should exclude support for EACOP

New criteria falls short of aligning with 1.5°C San Francisco – In a SEC filing of “Additional Proxy Soliciting Materials” Chubb quietly updated its oil, gas, and conservation policies. RAN’s analysis, released ahead of Chubb’s Annual General Meeting Thursday, May 16th, has concluded that while the updates are a small improvement, the loopholes and narrow …

AXA must end its support to LNG

2023 was the hottest year on record, as well as the year in which we saw insurance companies abandon their customers most affected by climate risks. Climate change, mainly caused by the burning of fossil fuels (coal, oil and gas), is accompanied by ever more intense and frequent climatic disasters: forest fires, floods, drought, hurricanes, …

Insuring Disaster 2024

ShareAction Report: Insurance’s triple whammy threatens the survival of people and planet

London, 15 April 2024 – A major investigation into the world’s 65 largest insurance companies from the responsible investment charity ShareAction, released 11 April 2024, shows that both people and planet face the triple whammy from insurance companies underwriting and investing in projects that are increasing global warming, damaging the natural environment and failing to …

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New Finance Watch report clarifies ingredients for impactful transition plans for insurers

Brussels, 12 April 2024 – A new report from Finance Watch outlines the steps that must be taken to ensure effective implementation of mandatory transition plans for insurance companies as tools to support transition and manage the related risks. It outlines the urgent need for supervised “prudential” transition plans, pointing to the financial instability that …

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Campaigners demand ‘polluters pay’ as insurance industry meet for inaugural sustainability summit

Today, as the insurance industry convenes for the first Global Sustainable Insurance Summit in Los Angeles, the 32 campaign groups of the Insure Our Future network have sent a letter to the world’s leading fossil fuel insurers, detailing how they can accelerate the transition to a clean and just energy economy. Demands in the letter …

Zurich Insurance Protest Global Week of Action 2024

Insure Our Future Responds to Zurich’s New Oil and Gas Exit Policy

Zurich, 8 April 2024 – In a Bloomberg story today, the Zurich Insurance Group today announced major new fossil fuel restrictions, excluding the underwriting of new oil and gas extraction and metallurgical coal projects. The Insure Our Future campaign and its Swiss member Campax welcomed the news and called on AIG, Tokio Marine and the big Lloyd’s …

Tokio Marine’s strengthened climate policy does not go far enough

Tokio Marine, Japan’s biggest property and casualty insurer and the 15th largest fossil fuel underwriter in the world, announced on 13th March that its largest subsidiary, Tokio Marine & Nichido Fire Insurance Co. Ltd. (TMNF), is strengthening its engagement policy with 60 companies in high Greenhouse Gas (GHG) intensive sectors, and commits to stop insuring, …

Thousands take part in powerful global week of action demanding Insurance industry take climate action

This week has been an incredible global week of action for the Insure Our Future campaign, with thousands of people taking part in over 100 actions across 31 countries in 5 continents, including over 100,000 people taking action online. In-person actions include protests in Japan, South Korea, Nigeria, Uganda, Indonesia, UK, USA, Philippines, Pakistan, Tanzania, …

Insure Our Future XR London Action

Probitas pulls out of EACOP and West Cumbria coal mine

London, 4 March 2024 – (guest content published by Extinction Rebellion) Major insurer Probitas1492 have today (Monday) confirmed that they will never insure two major ‘carbon bomb’ projects – the East African Crude Oil Pipeline and the proposed West Cumbria coal mine – after a week of peaceful protest from Extinction Rebellion (XR) and members …

Activists demand Tokio Marine rule out EACOP at annual shareholder meeting

On 26 June 2023, citizens and environmental NGOs gathered in front of the AGM venue of Tokio Marine Holdings; Japan’s biggest and one of the world’s top 10 oil and gas insurers.  #StopEACOP activists question Tokio Marine’s ethics  Risa Iizuka, a youth activist and Field Organizer at 350.org Japan, condemned the 1,400km-long  East African Crude …

Mother's Rise Up Mary Poppins themed protest

Why mothers are taking on the insurance industry

The insurance sector is the Achilles’ heel of the fossil fuel industry  Without insurance, fossil fuel companies cannot operate and fossil fuel projects cannot be built or maintained.   This is why we, at Mothers Rise Up, a UK climate-parent group, focus our creative energy on the insurance sector, particularly on the world’s oldest, biggest and …

A hurricane due to climate change

In response to climate deniers, insurers must step up climate action

Written in collaboration with Reclaim Finance. Numerous insurers have quit the Net Zero Insurance Alliance (NZIA) under pressure from climate denying politicians and officials in the United States. The insurance industry has for decades been aware of the causes and serious consequences of climate change and its business model is being shaken by repeated multi-billion …

Insure Our Future’s response to the Net Zero Insurance Alliance exodus

What’s happening with the Net Zero Insurance Alliance  Today, French reinsurer SCOR, the world’s 7th biggest non-life reinsurance company left the Net Zero Insurance Alliance (NZIA) while significantly strengthening its oil and gas restrictions at the same time. At its AGM, the reinsurer today announced that it would no longer underwrite the development of new …

Insurers’ shift away from fossil fuels continues in spite of political obstruction

This article first appeared on Environmental Finance. You can find the article here. The recent departures of Munich Re, Zurich and Hannover Re from the Net Zero Insurance Alliance (NZIA) have created a lot of debate. Amidst all the noise it’s important to remember the following basic facts about net zero commitments. Munich Re has cited antitrust concerns as the reason …

Large silver skyscraper building that is the Lloyds of London office with a clear blue sky behind.

British and African Quakers urge against insurance for East African pipeline

In an open letter Paul Parker, recording clerk of Quakers in Britain, and Bainito Wamalwa, Africa section clerk of Friends World Committee for Consultation, asked for a meeting with the world’s leading insurance market to discuss its action on climate change. They urged Lloyd’s Chairman Bruce Carnegie-Brown and Chief Executive John Neal, whose members insure a large …

Insurers and Adani: The End of the Affair

Originally published in ESG Investor on February 9, 2023 Since activist short-seller Hindenburg Research accused the Adani Group of “pulling the largest con in corporate history” on 25 January, the value of the world’s biggest private developer of new coal has been in free fall. The exposure of Adani’s fraud sheds an embarrassing light on organisations – …

Fossil fuel insurers top Christmas 2022’s naughty list

Leaders of some of the world’s biggest insurance companies including Lloyd’s of London, AIG, Swiss Re and Allianz, will find out if they have been naughty or nice when they receive a specially selected Christmas gift from the climate action group, Mothers Rise Up, today. The CEO’s of six insurance companies – Lloyd’s of London …

How insurers can scale up the renewable energy revolution

Global wind power capacity must grow eight- and solar capacity five-fold by 2030 so we can limit global warming to 1.5°C, the International Renewable Energy Agency has found. Scaling up the renewable energy sector is all the more urgent in order to replace Russian fossil fuels with wind and solar rather than new oil and …

Insurance CEOs have the power to stop fossil fuel expansion – they must not risk our planet for an extra squeeze of profit

As decision-makers converge in Egypt for the annual climate talks at COP, major new reports warn that we’re at risk of triggering irreversible tipping points in our Earth’s system without rapid and concerted action right now. This year has been a litany of climate disasters ravaging communities, while oil and gas companies are reaping tens …

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