March 12, 2021
AXA SA, France’s biggest insurer, is dropping German energy giant RWE AG as a client in a decision that highlights how taboo the coal business has become. Not even an appeal from RWE Chief Executive Officer Rolf Martin Schmitz to …
March 11, 2021
Trans Mountain Pipeline LP is petitioning to keep the insurers of its controversial Canadian oil sands pipeline confidential as environmental groups urge insurance companies to drop their coverage. The pipeline company normally discloses the insurance companies in a so-called Financial …
March 4, 2021
Zurich Insurance Group has appointed Sierra Signorelli, currently group chief underwriting officer, to the role of chief executive officer for Commercial Insurance and as a member of the executive committee with immediate effect. Signorelli succeeds James Shea, who has decided …
February 24, 2021
Baker Hughes Co and AXA Group and 16 other companies recently quit work on Russia’s Nord Stream 2 natural gas pipeline and will not be sanctioned, according to a document the Biden administration sent to Congress last week which was …
February 23, 2021
A subsidiary of Germany’s Munich Re will no longer insure the Nord Stream 2 pipeline from Russia to Europe amid the fear of sanctions by the U.S. government. The U.S. has been threatening sanctions against European companies that support construction …
February 12, 2021
Zurich Insurance’s new capital target disappointed market expectations on Thursday, even as claims related to the COVID-19 pandemic and higher losses from natural catastrophes bit less than expected into full-year earnings. Insurers have faced hefty claims from event cancellations and …
February 2, 2021
As far as climate groups like the Sunrise Project are concerned, getting insurers out of the coal underwriting business is the most important thing they can do. No more insurance, no more coal. It’s something Sunrise has been pushing for …
January 20, 2021
The future of Nord Stream 2 looks increasingly uncertain as the U.S. ramped up pressure on the project with new sanctions, and companies walked away from the controversial Russian gas link. The new sanctions come just days before work on …
January 19, 2021
Zurich Insurance Group will drop out of Russia’s Nord Stream 2 project in the face of looming U.S. sanctions against European companies that support construction of the $11 billion gas pipeline, two sources familiar with the situation said. The U.S. …
January 13, 2021
The U.S. State Department this month told European companies which it suspects are helping to build Russia’s Nord Stream 2 gas pipeline that they face the risk of sanctions as the outgoing Trump administration prepares a final round of punitive …