"We welcome AXIS Capital's new commitments on coal as a major win for the climate. By ruling out coal developers and setting out 1.5 degrees Celsius-aligned dates for phaseout of the sector entirely, AXIS Capital has raised the bar for insurers in the U.S. and globally," said Elana Sulakshana of the Rainforest Action Network. (Credit: Rasta777/Shutterstock.com)

AXIS Capital Holdings Ltd. has made several updates to its fossil fuel underwriting and investment policies relating to thermal coal, oil sands and the Arctic National Wildlife Refuge as it works to further support the transition to a low-carbon economy, the specialty insurance and reinsurance company reported. The updated provisions go into effect Jan. 1, 2022.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

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