Wooden blocks that spell "ESG" sit next to a globe made out of greenery Utah Attorney General Sean D. Reyes said in a statement that he and his colleagues “are encouraged” to see the departures from “an alliance that was focused on a radical environmental agenda over the interests of its clients. We will continue to be vigilant and take legal action where necessary to protect Americans from the dangers of ESG.” (Credit: Pcess609/Adobe Stock)

(Bloomberg) — The world’s biggest climate alliance for insurers has started hemorrhaging members following Republican attorneys general accusing the group of antitrust violations.

On May 25, 2023, French insurers AXA SA and Scor SE, as well as Allianz SE of Germany, became the latest members of the Net Zero Insurance Alliance (NZIA) to walk out, bringing to seven the number of high-profile defections in less than two months. AXA’s departure is particularly noteworthy, as the firm had chaired the alliance.

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