In its statement, Zurich said it plans to support customers in their transition to clean energy. “We continue to remain fully committed to our sustainability ambitions and to supporting the net-zero transition,” it said. (Credit: Bloomberg) In its statement, Zurich said it plans to support customers in their transition to clean energy. “We continue to remain fully committed to our sustainability ambitions and to supporting the net-zero transition,” it said. (Credit: Bloomberg)

(Bloomberg) — Zurich Insurance Group AG is leaving a coalition of major insurers that have committed to reach net-zero emissions, the second high-profile exit from the group in a matter of days.

The Swiss insurer said in a statement that it’s withdrawing from the Net-Zero Insurance Alliance, which is a sub-unit of the larger Glasgow Financial Alliance for Net Zero (GFANZ). The move comes after Munich Re said Friday, March 31, 2023, it also will exit the group, which was convened by the United Nations in 2021 and has about 30 members.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.