Hannover Re Is Third Insurer in Month to Leave Climate Group (2)

Hannover Re is the third insurer to quit the Net Zero Insurance Alliance in less than a month.

The German reinsurer said in a statement Wednesday that while it has opted to leave the climate coalition of leading insurers, the company “remains committed to its sustainability strategy, the associated goals and its support for the Paris Agreement.” Hannover Re’s statement wasn’t more specific, except to say the company still aims to achieve climate neutrality by 2050 at the latest.

Munich Re left the alliance late last month, citing “material antitrust risks,” and Zurich Insurance Group AG followed a week later ...