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Sign up to our newsletter Home Latest Campaigns Scorecard About Take action Contact Press inquiries camilla.schramek@sunriseproject.org Campaign Global U.S. Japan Our best insurance is to keep fossil fuels in the ground Insurance companies have a responsibility to immediately stop insuring fossil fuel expansion. Except for a few laggards, most insurers have stopped insuring new coal projects under pressure from the Insure Our Future campaign. However, contradicting their own climate commitments, most insurers continue to underwrite the expansion of the oil and gas industry. Learn more Number of companies with fossil fuel exclusion policies, by sector Insurers, as society’s risk managers, should take responsibility to actively support global action to avoid climate breakdown, and drive the transition to a low-carbon economy. Without insurance most new fossil fuel projects cannot go ahead and existing ones must close. Click here to view a detailed document on insurance company fossil fuel underwriting policies Oil & Gas: 18 18 companies have committed to end or restrict underwriting for new oil and gas projects Companies IAG 2020 Suncorp 2020 Aviva 2021 AXA 2021 Generali 2021 KBC 2021 Zurich 2021 Allianz 2022 Fidelis 2022 Hannover Re 2022 Mapfre 2022 Munich Re 2022 SCOR 2022 Swiss Re 2022 Chubb 2023 HDI/Talanx 2023 a.s.r. 2023 Uniqa 2023 Coal: 45 45 companies have committed to end or restrict underwriting for coal projects Companies AXA 2017 SCOR 2017 Zurich 2017 Allianz 2018 Generali 2018 Munich Re 2018 Swiss Re 2018 Axis Capital 2019 Chubb 2019 Hannover Re 2019 HDI Global / Talanx 2019 Mapfre 2019 NN Group 2019 QBE 2019 Suncorp 2019 The Hartford 2019 Uniqa 2019 Vienna Insurance Group 2019 CNA Hardy 2020 Fidelis 2020 IAG 2020 KBC 2020 Liberty Mutual 2020 Royal and Sun Alliance 2020 Samsung Fire & Marine 2020 Aviva 2021 DB Insurance 2021 Hana Insurance 2021 Hanwha 2021 Heungkuk Fire & Marine 2021 Hiscox Group 2021 Hyundai Marine & Fire 2021 Lotte 2021 MS&AD 2021 Tokio Marine 2021 KB Non-Life Insurance 2022 Travelers 2022 AIG 2022 Sompo 2022 Canopius 2022 Partner Re 2022 Korean Re 2022 Beazley 2023 Helvetia 2023 a.s.r. 2023 Tar Sands: 26 26 companies have committed to end or restrict underwriting for tar sands projects Companies AXA 2017 Zurich 2017 Generali 2019 HDI Global / Talanx 2019 Munich Re 2019 The Hartford 2019 Axis Capital 2020 Hannover Re 2020 KBC 2020 Mapfre 2020 Royal and Sun Alliance 2020 Swiss Re 2020 Allianz 2021 MS&AD 2021 QBE 2021 Tokio Marine 2021 Travelers 2022 AIG 2022 Sompo 2022 Canopius 2022 Hiscox 2022 Fidelis 2022 Beazley 2023 Helvetia 2023 a.s.r. 2023 SamsungFM 2023 Insurers need to stop supporting fossil fuel expansion Insure Our Future calls on all insurers to immediately stop insuring new fossil fuel projects, and to phase out existing coal, oil and gas insurance in line with a 1.5°C pathway. Prominent voices from the public and private sector agree: Reducing exposure to Oil & Gas should be the next environmental objective for insurers… and could help unlock an additional ‘green premium’ for the sector. Société Générale There are no new oil and gas fields approved for development in our pathway [Net-Zero to 2050] and no new coal mines or mine extensions are required. International Energy Agency’s Net Zero by 2050 report, May 2021 We need net zero commitments to cover your underwriting portfolios, and this should include the underwriting of coal - and all fossil fuels. Antonio Guterres, Secretary-General of the United Nations, at the Insurance Development Forum I encourage insurers to only underwrite those portfolios that are consistent with the goals of the Paris Agreement. Patricia Espinosa, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) The cumulative scientific evidence is unequivocal: Climate change is a threat to human well-being and planetary health. Any further delay in concerted anticipatory global action on adaptation and mitigation will miss a brief and rapidly closing window of opportunity to secure a liveable and sustainable future for all. IPCC Sixth Assessment Report on Climate Change 2022: Impacts, Adaptation and Vulnerability 1 / 5 We have 7 demands to the insurance industry: 1 Immediately cease insuring new and expanded coal, oil, and gas projects. 2 Immediately stop insuring ay new customers from the fossil fuel sector which have not published a transition plan aligned with a credible 1.5°C pathway, and stop offering any insurance services which support the expansion of coal, oil and gas production even among existing customers. By the end of 2025, completely phase out all insurance services for existing fossil fuel company customers which have not published such a transition plan. 3 Immediately divest all assets, including assets managed for third parties, from coal, oil, and gas companies which have not published a transition plan aligned with a credible 1.5°C scale up investments in a just, equitable, and rapid global transition to a clean energy economy. Read all 7 demands Latest Blog Letter Press Release Publication Go to latest April 15, 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 … Press Release | Insurance Company: AIG , Allianz , AXA , Chubb , Liberty Mutual , Lloyd’s , Mapfre , QBE , SCOR , Swiss Re , Tokio Marine , Travelers , Vienna Insurance Group , Zurich | Project: Adani Carmichael Coal Mine , East African Crude Oil Pipeline , Trans Mountain Pipeline April 12, 2024 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 … Press Release | Insurance Company: AIG , AXA , Chubb , Hiscox , Liberty Mutual , Lloyd’s , Mapfre , Munich Re , SCOR , Swiss Re , The Hartford , Tokio Marine , Travelers , Zurich April 9, 2024 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 … Letter , Press Release | Insurance Company: AIG , Chubb , Generali , HDI Global / Talanx , Helvetia , Hiscox , Lloyd’s , MS&AD , Samsung FM , SCOR , Sompo , Swiss Re , Tokio Marine , Vienna Insurance Group , Zurich Contact Press inquiries ilana.winterstein@sunriseproject.org Questions info@insure-our-future.comHome Latest Campaigns Scorecard About Take action Data Protection Privacy Policy Cookie Policy Social Media formerly Twitter LinkedIn Flickr Facebook Instagram Youtube Mastodon Sign up for the latest on climate, fossil fuels and the insurance industry Subscribe The Sunrise Project Inc. © 2024 Insure Our Future. All rights reserved. Subscribe to monthly newsletter Register below to receive the late st on climate change, fossil fuels and the insurance industry. First name* Last name* Email* Yes, please send me the newsletter By submitting my information I agree to the Privacy Policy and Terms of Service . Any questions? info@insure-our-future.com . 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