Climate change
Zurich’s broker club; Novidea’s $50m funding; and Gallagher sponsors women’s rugby
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
How insurers are supporting King Charles’ green agenda
To mark HRH King Charles III's coronation, Fiona Nicolson examines the impact of his Sustainable Markets Initiative Insurance Task Force.
Ardonagh in double swoop; UK General rebrands; SRG launches in Europe
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments, and strategic moves of the week.
Brokers don’t care about insurers’ ESG work, reports suggest
Data analysis: Insurance brokers in the UK can’t name the insurers leading the way with environmental, social, and governance (ESG) work, a survey has shown.
More exits possible as Hannover Re becomes third member to leave NZIA
After a Moody's report stated two founding members of the Net Zero Insurance Alliance left because of "material antitrust risks", Hannover Re has decided to leave the alliance.
Regulator warns insurers it is ready to mark ESG homework
The Prudential Regulation Authority told insurers to make sure they are doing their environmental “homework” because the watchdog will soon be marking it.
Lloyd’s targets sustainable assets with £250m investment fund
Lloyd’s has launched a £250m fund to invest in “sustainability-focused assets” across private equity, infrastructure, natural capital and real estate.
Founding NZIA members drop out of the climate initiative
Zurich is the second Net-Zero Insurance Alliance member to quit the initiative, days after Munich Re.
Chubb transitions to climate-focused underwriting criteria
Chubb changed its underwriting criteria for oil and gas extraction projects in a bid to help stop global warming.
Insure Our Future sends open letter to 30 fossil fuel insurers
Campaigners from Insure Our Future wrote to chief executives of 30 insurance companies pleading them to “scale up efforts” to avoid an “unmanageable” climate breakdown.
Hiscox’s UK & London Markets’ GWP drops for 2022 but sectors stay profitable
Hiscox’s UK and London Markets businesses both dropped gross written premium in real terms but continued profitability, as the insurer announced the launch of an ESG sub-syndicate.
Ombudsman sees an uptick in travel and commercial property complaints
Data analysis: Financial Ombudsman Service data shows that travel insurance complaints are increasing as people head off abroad on their holidays once again following the Covid-19 pandemic.
Climate litigation on the rise as Shell is sued
Kennedy’s partner Alex Nurse expects climate litigation to be on the rise as Shell is facing a legal battle filed by shareholders for its failure to adopt and implement an energy transition that aligns with the Paris Agreement.
View from the top: Zurich’s Anita Fernqvist on how changing the way insurance buys can be a driver for change
Anita Fernqvist, chief operating officer at Zurich, argues that buying products and services from social enterprises can help the insurance sector achieve its ESG ambitions.
Affordable housing - lessons from this year’s subsidence surge
Blog: In light of last year’s dry summer, evidence of a surge in subsidence damage to UK properties emerged when insurer LV reported a 205% rise in cases between June and July this year alone. Mark Curtis, associate director at Brawdia considers the…
Causes for concern for renewable energy insurers
Analysis: Harry Curtis explores the challenges facing the renewables insurance market and why smaller wind turbines installed over a decade ago are giving providers cause for concern.
Perils pegs February 2022 storm losses at €3.8bn
Perils estimates that the final loss for the European windstorm series, which affected the UK and continental Europe from 16 to 21 February 2022, comes to €3.8bn.
Percayso Inform acquires Cazana; Andi sets up Oxford R&D lab; Aon appoints head of war and terrorism
Friday Round Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
ABI launches three-year strategy and reaffirms summer launch date for leaseholder support scheme
The Association of British Insurers has launched a three-year strategy focused on improving customer trust, sustainable investments and lobbying for further legislative, regulatory and tax reforms.
Weather and inflation turn up the heat on Allianz Holdings’ profit
Allianz Holdings saw its 2022 operating profit more than halve as a result of higher-than-expected inflation and continued disruptive weather, CEO Colm Holmes has said.
Marsh under fire for acting as insurance broker for pipeline
Campaigners Insure Our Future have written to the CEOs of Aon, Gallagher, Marsh and Willis Towers Watson asking them to refuse to broker insurance for the East African Crude Oil Pipeline.