Exits from Internet-Zero Insurance coverage Alliance proceed

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 the 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 objectives.

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

In response to 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 the entire firm’s enterprise operations worldwide to succeed in by the 12 months 2030.

A signatory to the Rules 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 not contains the NZIA, will be discovered right here.

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

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