Mums climate action at England-India cricket match: Chair of Lords & Lloyd’s told ‘fossil fuels are just not cricket’

A group of mums unfurled a huge banner at today’s England – India cricket match challenging Bruce Carnegie-Brown, Chair of Marylebone Cricket Club and Lloyd’s of London – one the world’s biggest insurers of fossil fuels – to take ambitious climate action. The 9 metre banner – with the message ‘Bruce: Fossil Fuels are just …

Baden-Baden 2022: Time for reinsurers to stop fueling climate catastrophes and start accelerating the clean energy transition

From 23-26 October, underwriters and brokers from the global reinsurance industry will meet at the annual Baden-Baden reinsurance meeting in Germany to negotiate new reinsurance contracts. Given the foundational and decisive role of the reinsurance industry in enabling fossil fuel extraction, the Baden-Baden meeting deserves critical attention. Looking at the dynamics of the 2022 Baden-Baden …

#StopEACOP response to media reports claiming that EACOP is fully insured

Recent media reports in The Independent and Nile Post suggest that the East African Crude Oil Pipeline (EACOP) has been fully insured and reinsured with local firms through the Insurance Consortium for Oil and Gas in Uganda (ICOG). The #StopEACOP campaign believes this information is misleading—numerous official documents indicate (and standard practice in the industry …

Top German (re)insurer Talanx passes on EACOP

Talanx, Germany’s third largest insurer, is the latest (re)insurance company to confirm to the #StopEACOP Coalition that they will not (re)insure the East African Crude Oil Pipeline (EACOP). They join 11 other (re)insurers, including 4 of the world’s biggest (re)insurance companies – Munich Re, Swiss Re, Hannover Re, and SCOR. Talanx follows fast in the …

Three more insurers rule out the East African Crude Oil Pipeline

Insurance providers Argo Group and Axis Capital, both Lloyd’s of London members, and RSA Insurance Group Limited, a leading UK insurer, have informed the #StopEACOP coalition that they will not be involved in underwriting the East African Crude Oil Pipeline (EACOP) project. The decision by the three firms brings the total number of (re)insurers who …

South Korea’s largest general insurers fail to cut ties with coal, again

Samsung Fire & Marine Insurance and Hyundai Marine & Fire Insurance will not phase out existing underwriting of insurance for coal-powered projects, despite financial and climate concerns, according to their latest ESG reports. South Korea’s largest general insurers Samsung Fire & Marine Insurance (Samsung FMI) and Hyundai Marine & Fire Insurance (Hyundai MFI) announced it …

Investing in climate chaos

American International Group (AIG), Berkshire Hathaway, Travelers, and Chubb are among the ten insurers that collectively invested over $59.7 billion in fossil fuels in 2019, finds an analysis released today by Insure Our Future, Public Citizen, and Rainforest Action Network. The report analyses 2019 data released in April 2022 by the California Department of Insurance to …

People from across the globe are coming together to demand #MarshDropEACOP

In May 2022, an investigative news article revealed that Marsh, the world’s biggest insurance broker, is approaching insurers and trying to convince them to provide insurance coverage to build the controversial East African Crude Oil Pipeline (EACOP). EACOP would be the world’s longest heated oil pipeline, which Total Energies and China National Offshore Oil Corporation …

Sompo becomes first Asian insurer to rule out coal companies

Sompo joins NZIA, but must meet new Race to Zero Criteria Today, a day after its Annual General Meeting, Sompo, one of the top three Japanese non-life insurers, became the first Asian insurer to rule out insurance and investment in coal companies and companies involved in energy exploitation in the Arctic National Wildlife Refuge. Sompo …

Going Beyond Insurers’ Voluntary Initiatives

Risk management is at the heart of insurers’ business. Yet we find that insurers are still not adequately considering – and are in fact actively compounding – the greatest risk humanity faces today: climate change and its irreversible consequences. This briefing compares insurers’ words with their actions. It shows that even members of voluntary initiatives, …

SCOR finally releases timid oil policy

Today, SCOR, the 4th biggest reinsurer in the world, held its Annual General Meeting (AGM) where its CEO Laurent Rousseau took the opportunity to announce SCOR’s first underwriting exclusions on oil. While committing to no longer underwrite new oil projects is a good first step, these restrictions fail to cover gas and are thus inconsistent …

Mums ramp up pressure on Lloyd’s to stop insuring fossil fuels

Parent groups, Mothers Rise Up and Parents For Future UK, are calling on Bruce Carnegie-Brown, Chair of Lloyd’s of London and a father of four, to stop insuring the world’s most damaging fossil fuel projects. A group of UK mums will meet with Carnegie-Brown on May 17, ahead of Lloyd’s AGM and hold a Father’s …

Campaigners call on Talanx to urgently follow its subsidiary Hannover Re, and rule out new oil and gas for its entire business

On the occasion of the Annual General Meetings (AGM) of Hannover Re (4 May) and its parent company Talanx (5 May), the environmental organisation urgewald, together with Dachverband der Kritischen Aktionär*innen (an association of critical shareholders), is calling on Talanx to take ambitious climate action. Talanx subsidiary Hannover Re announced in March that it would …

Arch becomes eighteenth insurer to sever ties with the Trans Mountain Tar Sands Pipeline

Number of insurers ruling out Trans Mountain continues to grow, following a year of climate impacts along the pipeline route and continued pressure from activists. Trans Mountain insurer and Lloyd’s of London syndicate Arch Insurance has committed to no longer insure the Trans Mountain tar sands pipeline after its current insurance policy expires this summer. …

Allianz raises the bar with the adoption of ambitious oil and gas exit policy

Today, Allianz, currently one of the world’s biggest oil and gas insurers, committed to stop insuring and investing in new oil and gas fields, new oil power plants, practices related to the Arctic and new midstream oil infrastructure as of January 2023, and will not renew existing contracts for such projects as of July 1, …

Environmental organisations call out Munich Re for failing to stop insuring new oil and gas projects

World’s largest reinsurer must align its policies with climate science, say Urgewald and Dachverband der Kritischen Aktionär*innen ahead of its Annual General Meeting Ahead of Munich Re’s Annual General Meeting (AGM) on April 28, the environmental and human rights organization Urgewald, as a member of the international campaign network Insure our Future, together with the …

Over forty environmental organizations urge Samsung to stop fueling climate change

The world’s third-largest electronics giant claims to be an innovative technology leader but faces global scrutiny on Earth Day over its over-reliance on fossil fuels   More than forty global environmental organisations sent a letter to the Samsung Group, urging the company to stop fuelling climate change and set more ambitious climate measures. The letter was delivered …

Trans Mountain insurer Aspen commits to cut ties with the tar sands pipeline

Aspen joins sixteen companies that have ruled out insuring Trans Mountain Trans Mountain insurer and Lloyd’s of London syndicate Aspen Insurance has pledged to cut ties with the existing Trans Mountain tar sands pipeline when its current insurance policy expires this summer. Aspen joins sixteen insurance companies that have dropped Trans Mountain or vowed not …

Allianz becomes 7th insurer to reject the East African Crude Oil Pipeline (EACOP)

Allianz, one of the world’s largest oil and gas insurers, is the seventh insurer to commit not to insure the East African Crude Oil Pipeline (EACOP), following recent statements from Munich Re, Hannover Re and SCOR. In an email to campaigners from, #StopEACOP, Inclusive Development International and Insure Our Future, Allianz stated: “Allianz is not …

Munich Re commits to not insure EACOP

Today, Munich Re, the world’s largest reinsurer, has rejected the East African Crude Oil Pipeline (EACOP), joining Hannover Re, SCOR, Swiss Re, Axa, and Zurich in publicly committing that they will not underwrite the pipeline. In a statement on their website, Munich Re wrote that: “… we have not insured the East African Crude Oil …

You have seen 20 of 121

Load more