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While geopolitical risk remains the top concern for insurers, more than 1 in 3 insurance executives surveyed by BlackRock said they now see environmental concerns as a potential headwind. Other major themes include a growing emphasis on sustainability and the need to diversify into higher-yielding assets. (Credit: Daniel Acker/Bloomberg) While geopolitical risk remains the top concern for insurers, more than 1 in 3 insurance executives surveyed by BlackRock said they now see environmental concerns as a potential headwind. Other major themes include a growing emphasis on sustainability and the need to diversify into higher-yielding assets. (Credit: Daniel Acker/Bloomberg)

(Bloomberg) — Insurers are getting increasingly worried about the perils of climate risk after a run of natural disasters, according to a report by BlackRock Inc.

The big majority of insurers now see climate as an investment risk and are positioning portfolios accordingly, Charles Hatami, global head of the Financial Institutions Group and Financial Markets Advisory at BlackRock, said. For its survey, BlackRock spoke with 362 executives at insurance companies representing $27 trillion in investable assets across 26 markets.

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