All Climate Change articles – Page 3
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NewsFitch follows S&P in SCOR downgrade
Downgrade reflects the reinsurer’s continued weak financial performance, which “has worsened in 2022”
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NewsKorean Re adopts coal-exit strategy
The move by Asia’s second largest reinsurer is welcomed, but there are calls to restrict coal from its treaty business
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NewsRSA launches low-carbon underwriting policy
Insurer has committed to achieving an underwriting portfolio for energy production that is over 75% low carbon by 2030
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NewsHurricane Ian drives 2022 nat cat losses to $115 billion
Ian is the second-costliest insured loss ever on sigma records after Hurricane Katrina in 2005 - Swiss Re Institute
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NewsNigeria gains parametric flood resilience scheme
Solution will pay out based on flood magnitude with funds targeted for immediate infrastructure reconstruction
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NewsInsurers are innovating to address nature loss - Geneva Association
Over 50% of global GDP is dependent on natural capital and ecosystem services, many of which are close to ‘tipping points’
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NewsIDF calls for 'convergence' of insurance and disaster risk management
As key milestones announced at COP27, IDF heralds the industry’s ability to influence “systemic change”
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NewsGulf Business News: DIFC, Global Ethical Finance Initiative join hands to support COP28 agenda
DIFC and GEFI aim to drive change across the world’s financial industry relating to delivering net zero, unlocking Islamic finance, financing nature and biodiversity, and financing sustainable development goals
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NewsRe/insurers providing $5.5 trillion a year in resilience protection
The Geneva Association sets out how the industry can do more to promote social sustainability and close protection gaps
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NewsCOP27: Covea, Hiscox and RSA commit to ‘Build Back Better’
Investing in property level flood resilience measures lessens the impact of future flooding - Flood Re CEO
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NewsClimate change ‘most pressing issue’ for African insurers - CEO survey
Financial risks are topping the list of challenges facing the 54 African economies in the year ahead
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NewsBaden Baden: Litigation could significantly inflate Ian loss - Verisk
Loss creep on Hurricane Ian claims are likely as inflation and social inflation drive up costs, thinks Yörn Tatge
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NewsBaden Baden: Demand for reinsurance has never been stronger
The industry must rise to the challenges of our age, said industry leaders at the Baden Baden Reinsurance Symposium
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NewsBaden Baden: Trapped capital will further dent European capacity - Munich Re
Hurricane Ian will exacerbate Europe’s reinsurance supply and demand imbalance, further driving up rates
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NewsBaden Baden: Cedants must dramatically increase retentions
As reinsurance capacity retreats and inflation soars, insurers must be prepared to retain more risk - Swiss Re
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NewsCatastrophic floods hit three Australian states
More extreme weather is on its way with widespread rain and storms forecast across eastern Australia later this week
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NewsFlood Re’s resilience scheme offers substantial dividend - JBA
The take up of Property Flood Resilience could have a major impact on projected flood losses in the UK
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NewsGallagher Re develops risk financing strategy for Senegal
It will combine public and private capital to finance the growing risks posed by climate change and food insecurity
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NewsMunich Re announces major new oil and gas policy
As of 1 April 2023 reinsurer will no longer invest in or insure projects exclusively covering new oil and gas fields
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NewsCanopius taps WTW for head of sustainability
Adhiraj Maitra will be responsible for Canopius Group’s ESG position worldwide
