Exits from Internet-Zero Insurance coverage Alliance proceed

Exits from Internet-Zero Insurance coverage Alliance proceed | Insurance coverage Enterprise America

Third largest reinsurer steps away

Exits from Net-Zero Insurance Alliance continue


Terry Gangcuangco

In a span of three weeks, three main names have left the United Nations-convened Internet-Zero Insurance coverage Alliance (NZIA) – this time round we see Hannover Re, the third largest reinsurer on this planet, head for the door.

With out detailing its causes for the exit, Hannover Re cited “cautious consideration” behind the choice. Similar to its friends Munich Re and Zurich, although, Hannover Re is equally sticking to its personal local weather and sustainability targets.

“Hannover Re stays dedicated to its sustainability technique, the related targets and its help for the Paris Settlement, and goals to realize full local weather neutrality by 2050 on the newest,” mentioned the Talanx Group model.

In keeping with Hannover Re – which Insurance coverage Enterprise understands is a Local weather Alliance Hannover 2035 member – it has operated with a net-zero carbon footprint at its Hannover location since 2016, with that very same goal set for all the firm’s enterprise operations worldwide to succeed in by the yr 2030.

A signatory to the Ideas for Sustainable Insurance coverage, Hannover Re can be a part of numerous regional, nationwide, and international initiatives, associations, and advocacy teams. An inventory of its affiliations, which now not contains the NZIA, might be discovered right here.

The NZIA has not publicly reacted to any of the departures.

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