Zurich Exits Insurance Climate Alliance Days After Munich Re (2)

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. The move comes after Munich Re said Friday it also will exit the group, which was convened by the United Nations in 2021 and has about 30 members.

Zurich’s departure will raise further questions about the workability of voluntary industry ...