Insure Our Future campaign’s report
The Insure Our Future campaign has published its 2021 strategic plan on insurance, climate change, and fossil fuels; this is the organization’s fifth annual report on insurers’ climate policies. “Insurance Business” describes the results obtained by 30 insurance companies in the most recent rankings in this section.
The German group Allianz is leading the pack in terms of phasing out fossil fuel insurance; the French companies SCOR and AXA in terms of divestment in fossil fuels; and Aviva, headquartered in the UK, emerges as the leader compared to other climate leaders.
The following companies are doing well, according to Insure Our Future, a study on the role of the global insurance industry in the fossil fuel sector:
| Insurer | Fossil fuel insurance rank | Fossil fuel investment rank | Other climate leadership rank |
| Allianz | 1 | 3 | 2 |
| AXA | 2 | 1 | 3 |
| AXIS Capital | 3 | 4 | 11 |
| Swiss Re | 4 | 4 | 4 |
| Zurich | 5 | 6 | 5 |
| Hannover Re | 6 | 12 | 11 |
| Mapfre | 7 | 8 | 10 |
| Generali | 8 | 7 | 7 |
| SCOR | 9 | 1 | 8 |
| QBE | 10 | 13 | 9 |
| Aviva | 11 | 23 | 1 |
| Munich Re | 12 | 9 | 6 |
| HDI Global | 13 | 9 | 11 |
| The Hartford | 13 | 11 | 11 |
| Tokio Marine | 15 | 16 | 11 |
| Lloyd’s | 16 | 16 | 11 |
| MS&AD | 17 | 16 | 11 |
| Samsung FM | 17 | 16 | 11 |
| Chubb | 19 | 15 | 11 |
| Liberty Mutual | 20 | 14 | 11 |
| Ping An | 21 | 16 | 11 |
| Sompo | 21 | 16 | 11 |
| W.R. Berkley | 23 | 16 | 11 |
| AIG | 23 | 24 | 11 |
| Berkshire Hathaway | 23 | 24 | 11 |
| Convex | 23 | 24 | 11 |
| Everest Re | 23 | 24 | 11 |
| PICC | 23 | 24 | 11 |
| Sinosure | 23 | 24 | 11 |
| Travelers | 23 | 24 | 11 |
Meanwhile, Insure Our Future has lamented that as the insurance industry’s exit from coal accelerates, so does oil and gas. According to the lobby group, only AXA, Generali and Suncorp (not included in the ranking) have policies that deny coverage for many or all new oil and gas production projects.
According to Insure Our Future, no insurer in Asia or the United States has said it will end oil and gas insurance. Meanwhile, AXA, the world’s largest fossil fuel insurer, says it recently adopted an oil and gas policy.
According to Peter Bosshard, global coordinator of Insure Our Future, which is attending the 26th United Nations Climate Change Conference in Glasgow, “the insurance industry has abandoned climate leadership by continuing to underwrite new oil and gas projects.” The scientific consensus is unequivocal: “we cannot avoid a climate catastrophe if we expand fossil fuel production.”
Why choose the Property Insurance Centre
Independent advice by approachable staff online or by phone
Access to a wide range of insurers to source suitable insurance cover for your needs
Bespoke Insurance Schemes & Portfolio Policies available
We can tailor your policy to suit your exact needs to give you complete peace of mind
Competitive Premiums
Cover available for the buildings while the property is being converted, renovated or extended
Over 40 years experience working with the best insurers in the UK
Excellent communication so that you understand what risks you are insured against
Why choose the Property Insurance Centre
Independent broker with staff you can speak to by phone or online
Access to a wide range of insurers to source suitable insurance cover for your needs
Bespoke Insurance Schemes & Portfolio Policies available
We can tailor your policy to suit your exact needs to give you complete peace of mind
Competitive Premiums
Cover available for the buildings while the property is being converted, renovated or extended
Over 40 years experience working with the best insurers in the UK
Excellent communication so that you understand what risks you are insured against
Why choose the Property Insurance Centre
Independent broker with staff you can speak to by phone or online
Access to a wide range of insurers to source suitable insurance cover for your needs
Bespoke Insurance Schemes & Portfolio Policies available
We can tailor your policy to suit your exact needs to give you complete peace of mind
Competitive Premiums
Cover available for the buildings while the property is being converted, renovated or extended
Over 40 years experience working with the best insurers in the UK
Excellent communication so that you understand what risks you are insured against
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Contents
- 1 Insure Our Future campaign’s report
- 2
- 3 Insurance under one roof
- 4 We are specialists in many types of insurance
- 5 Block of Flats
- 6 Unoccupied
- 7 Home Insurance
- 8 Residential Landlord
- 9 Land Liability
- 10 Commercial Property
- 11 Lockup Garage
- 12 Restaurant
- 13 Takeaway
- 14 Classic Car
- 15 Mixed Use
- 16 Tradesmen
- 17 Why choose the Property Insurance Centre
- 18 Independent advice by approachable staff online or by phone
- 19 Access to a wide range of insurers to source suitable insurance cover for your needs
- 20 Bespoke Insurance Schemes & Portfolio Policies available
- 21 We can tailor your policy to suit your exact needs to give you complete peace of mind
- 22 Competitive Premiums
- 23 Cover available for the buildings while the property is being converted, renovated or extended
- 24 Over 40 years experience working with the best insurers in the UK
- 25 Excellent communication so that you understand what risks you are insured against
- 26 Why choose the Property Insurance Centre
- 27 Independent broker with staff you can speak to by phone or online
- 28 Access to a wide range of insurers to source suitable insurance cover for your needs
- 29 Bespoke Insurance Schemes & Portfolio Policies available
- 30 We can tailor your policy to suit your exact needs to give you complete peace of mind
- 31 Competitive Premiums
- 32 Cover available for the buildings while the property is being converted, renovated or extended
- 33 Over 40 years experience working with the best insurers in the UK
- 34 Excellent communication so that you understand what risks you are insured against
- 35 Why choose the Property Insurance Centre
- 36 Independent broker with staff you can speak to by phone or online
- 37 Access to a wide range of insurers to source suitable insurance cover for your needs
- 38 Bespoke Insurance Schemes & Portfolio Policies available
- 39 We can tailor your policy to suit your exact needs to give you complete peace of mind
- 40 Competitive Premiums
- 41 Cover available for the buildings while the property is being converted, renovated or extended
- 42 Over 40 years experience working with the best insurers in the UK
- 43 Excellent communication so that you understand what risks you are insured against
- 44 Specialists in Commercial & Residential Insurance
- 45 Get In Touch:
- 46 We accept most payment types including:
- 47 UK Call Handlers & Dedicated New Business Team
- 48 Call Us on 0800 085 3761
