Zurich in the morning by elxeneize

Global association of Insurance CEOs confronted by climate protest at 50th summit – Will they ‘Safeguard the Planet’ or Greenwash business as usual?

Zurich, 28 November 2023 – Insure Our Future campaigners are protesting at the Geneva Association’s 50th anniversary summit in Zurich today, demanding that the global insurance industry take immediate action to slow the climate crisis and support the urgent transition from fossil fuels to renewables.  The Geneva Association calls itself the only international association of …

A shot of natural gas storage tanks in sphere shape in Okayama, Japan

MS&AD Announce Significant Emission Reduction Target

Tokyo, 22 November 2023 – On November 21, MS&AD Insurance Group Holdings (hereafter MS&AD), one of Japan’s three major property and casualty insurers, announced a greenhouse gas (GHG) emission reduction target of 37%  for the underwriting and investment portfolio of its domestic clients by 2030, using 2019 as a baseline year* (PR in Japanese). This …

Campaigners call on the International Association of Insurance Supervisors to take action on climate

Activists gathered in front of the International Association of Insurance Supervisors (IAIS) annual conference venue in Tokyo, Japan, on the 9th of November, asking the global standard-setting body to take decisive measures and strengthen their efforts to prevent the worsening of the global climate crisis. 📣Outside the @IAISNews annual conference last week attended by over …

Insurers withdraw cover for climate risks while backing increased fossil fuel production, industry must act to support 1.5°C climate target after 50 years of failure

Global, 9 November 2023 – Fifty years after the insurance industry first warned about the impact of climate change it is continuing to fuel the climate emergency, the Insure Our Future campaign warns today in its seventh annual scorecard on insurers’ climate policies. The growing frequency and severity of floods, hurricanes, wildfires, droughts and other …

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

Fifty years after the industry first warned about the growing risks of climate change it continues to provide insurance that allows new fossil fuel projects to go ahead. Insurers are abandoning customers affected by climate risks, yet most continue to fuel the climate emergency by providing cover for increased oil and gas production. Download the …

Tokyo cityscape at sunset by Claudio Ventrella

Open letter demanding climate risk regulatory action from the International Association of Insurance Supervisors

Tokyo, 31 October 2023 Dear IAIS Executive Committee Chair Saporta and Vice Chair Ariizumi: CC: IAIS Executive Committee, Climate Risk Steering Group Chair and Vice Chair, and Secretariat We write to you today from dozens of climate, environment, and consumer protection organisations, as you prepare for the IAIS annual meeting, to express our deep concern …

The IAIS Needs to Step Up on Climate

Insurance companies continue to insure and invest in fossil fuels and are abandoning climate affected communities instead. The Net Zero Insurance Alliance has failed to define meaningful steps for addressing climate risk, so regulators need to step up. The International Association of Insurance Supervisors (IAIS) holds its annual meeting in Tokyo on November 6-10 and …

Huge quarry bucket excavator works in a hot outdoors slag dump.

Reinsurers fuel the climate crisis while climate victims pay the price

Baden-Baden, 20 October 2023 – Ahead of the annual reinsurance congress in Baden-Baden, Urgewald and the international Insure Our Future network call on reinsurers to end their continued unqualified support of the fossil fuel industry, emissions from which are the prime contributor to global climate change. Reinsurance companies, whose role is to provide insurance to …

Oil refineries illuminated at night in Wakayama, Japan

Tokio Marine’s intermediate decarbonisation target lacks ambition and impact

Tokyo, 2 October 2023 – On September 29th, Tokio Marine, Japan’s biggest property and casualty insurer and the 7th* biggest globally, announced its “Interim Target for 2030 for the Transition to a Decarbonized Society“. It has set an engagement target within its domestic subsidiary, Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF), to engage …

Coal mining in surface mine. Miner looking on the huge excavator.

Leading European insurers underwrite 30% of U.S. coal despite net zero pledges

Washington, D.C., 28 September 2023 – Leading European insurers are underwriting nearly a third of U.S. coal production despite their net zero commitments, reveals a new report released today by Insure Our Future. Lloyd’s of London, Zurich and Swiss Re are among the top ten insurers of the 25 biggest U.S. mines, which produced more …

Arch Insurance & AEGIS London respond to pressure & rule out EACOP

Arch Capital Group Ltd and AEGIS London join the 19 (re)insurance companies ruling out the controversial East Africa Crude Oil Pipeline (EACOP) project. Arch Capital Group Ltd responded to ongoing pressure on their insurance business by ruling out insurance for the East Africa Crude Oil Pipeline (EACOP). A statement issued by the company follows sustained …

Reinsurers gathered in Baden-Baden can make or break the climate transition

Monday 24 Oct 2022 – As the global reinsurance sector meets to discuss annual re/insurance contract renewals in Baden-Baden, the Insure Our Future campaign calls on the assembled reinsurers to stop fueling climate catastrophe by underwriting coal, oil and gas production and instead support a rapid transition to renewable energy. Munich Re reported that climate …

#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 …

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 …

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 …

100 organisations call on Lloyd’s to reject EACOP

Nearly 100 civil society organizations working to advance human rights and environmental justice sent a letter to the Chairman and CEO of Lloyd’s of London asking that they tell their members not to provide (re)insurance coverage for the East African Crude Oil Pipeline (EACOP) project.  Citing a range of severe risks and controversies surrounding the …

Hannover Re becomes 5th re/insurer to opt out of East African Crude Oil Pipeline

Munich Re and Lloyd’s of London need to follow their European counterparts and reject the East African Crude Oil Pipeline (EACOP). Hannover Re is the latest insurer to reject EACOP, joining Swiss Re, Axa, Zurich and SCOR in publicly committing that they will not underwrite the pipeline. Last week, after SCOR committed not to insure …

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