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New UserSwiss Re to phase out reinsuring coal by 2040
17 Mar 2021
Swiss Re SRENH.S said on Tuesday it would completely phase out reinsuring the thermal coal industry by 2040, a move praised by climate activists.
The announcement comes as insurers face climate-related losses and get to grips with climate risk in their portfolios.
As an interim step, Swiss Re said it would phase out coal exposure by 2030 for those countries belonging to the Organisation for Economic Co-operation and Development (OECD).
The measure will affect various business lines, including property, casualty and marine cargo.
Source : https://www.nasdaq.com/articles