Industry Segments: Climate Page 1 / 15
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- June 2 2023
Zurich | Aligning your climate resilience strategy with evolving disclosure requirements
Climate reporting as a mere checkbox exercise may not yield meaningful information if companies fail to manage their risks.
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- June 1 2023
New Zealand to buy 700 homes unfit for rebuilding after severe storms
The policy will cost around US$600m with details to be worked out with insurers. NZ will also co-fund the protection of 10,000 other properties.
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- May 31 2023
Steadfast’s CHU to join Australia cyclone pool
Strata books of the MGA and Flex Insurance as well as its build-to-rent portfolios will enter the ARPC reinsurance pool from July 29.
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- May 29 2023
Tokio Marine quits climate alliance
The Japanese insurer said it remains committed to the transition towards a decarbonised society.
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- May 29 2023
Lloyd’s, QBE, Axa, Scor, Allianz and Sompo exit Net-Zero Insurance Alliance
The moves come after Hannover Re, Zurich, Scor, Swiss Re and Munich Re left the group with anti-trust issues in the US understood to be a concern.
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- May 26 2023
Scor latest to exit net zero alliance
This is the fifth exit from the NZIA after Swiss Re, Hannover Re, Zurich and Munich Re.
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- May 23 2023
Swiss Re leaves the Net-Zero Alliance
This is the fourth recent exit of a member following the departures of Hannover Re, Zurich and Munich Re.
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- May 19 2023
Philippines’ state Oriental Mindoro pushes for climate risk agri cover
Only one-third of over 10 million farm owners are covered by the country's state agricultural insurer PCIC.
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- May 12 2023
QBE hits 90% of H1 cat allowance, adjusts COR target
The global carrier has also strengthened reserves by US$130m for weather events in FY 2022.
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- May 9 2023
JB Boda eyeing parametrics, ILS to strengthen India’s nat cat capabilities
The broker, which has an international footprint, sees opportunities in helping domestic carriers, who are poor at managing climate risk.
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- May 8 2023
Losses mount from south-east China flooding
There have been more than US$72m of economic losses as the monthly precipitation is expected to approach or exceed May records.
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- May 4 2023
New Zealand mulls ban on rebuilding ‘high-risk’ properties as cat claims surge
IAG deals with a record 46,000 summer claims as government spends US$400m on Cyclone Gabrielle clean-up costs.
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- May 3 2023
New Zealand flood losses rise to US$1.08bn: Perils
The figure relating to the North Island event is a 6% increase from the initial loss estimate of US$1.03bn.
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- April 27 2023
Perils revises Australia October flood losses to A$907m
Personal lines property losses constituted 65% of the total industry loss, while commercial lines property losses represented 25% and motor losses at 10%.
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- April 25 2023
Net-zero alliance’s existential dilemma
As Munich Re, Zurich and Hannover Re leave the NZIA, in part due to US antitrust concerns, Asian carriers have more flexibility with a lack of opposition to ESG investments in the region.
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- April 24 2023
IAG revives RACQ takeover talks: report
The Australian reported that discussions have resumed between both parties even as a conclusive deal could take time and is ‘some way off’.
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- April 21 2023
Singapore extends ILS grant scheme till 2025
The Monetary Authority of Singapore's US$11.25m grant will subsidise the cost of issuing catastrophe bonds and the expanded suite of securities that focus on Asia risks.
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- April 20 2023
Hannover Re becomes third major to leave Net-Zero Insurance Alliance
The reinsurer has joined Munich Re and Zurich in quitting the global climate group but hasn't given a specific reason.
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- April 6 2023
Zurich quits climate alliance after Munich Re exit
Zurich says it remains 'fully committed . . . to supporting the net-zero transition'.
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- April 3 2023
Munich Re quits net-zero alliance citing antitrust risks
The reinsurer claims it will pursue its own climate targets focusing on reducing greenhouse gas emissions.
