Major names, including chair AXA, have left the Net-Zero Insurance Alliance (NZIA) in quick succession over the past two months – so, who remain as members amid US Republicans’ allegations of antitrust breaches?
From around 30 previously, the NZIA’s members count is now down to 17. According to the consortium’s website, as of this writing, the following companies continue to be part of the United Nations-convened group:
Achmea
American Steamship Owners Marine Insurance Company (Europe) Ltd (formerly known as Hellenic Hull Management)
ASR Nederland N.V.
Aviva Plc
Beazley Group Plc
Beneva
Crédit Agricole Assurances
Fidelis Insurance Holdings
Generali Group
ICEA LION Life Assurance Company
Insurance Australia Group
Intesa Sanpaolo Vita
KB Insurance
La Mutuelle Assurance des Travailleurs Mutualistes (Matmut)
NN Group N.V.
Samsung Fire & Marine Insurance
Shinhan Life Insurance
Broken down by region, 10 of the remaining NZIA members come from Europe; four, Asia-Pacific; two, North America; and one, Africa and Middle East.
As for the departures, they appear to be in response to pressure from the US. As reported, attorneys general from Alabama, Alaska, Arkansas, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Montana, New Hampshire, Ohio, Oklahoma, South Carolina, South Dakota, Texas, Utah, Virginia, West Virginia, and Wyoming previously wrote a letter to NZIA members to express certain “legal concerns”.
Last week, the United Nations Environment Programme (UNEP) said in a statement: “The NZIA has provided a framework that enables insurers and reinsurers and other insurance market participants across the globe to individually start or propel their respective net-zero insurance journeys and take urgent and ambitious individual, unilateral climate action.
“This is why UNEP will continue to strengthen and deepen its collaborative work with the insurance industry and key stakeholders to advance net-zero insurance thinking and practices globally.”
Source: insurancebusinessmag.com