World’s biggest insurer moves away from coal

Allianz, the world’s biggest insurance company by assets, announced on 3 May 2018 that it will no longer provide stand-alone insurance coverage for coal power plants or coal mines. The German insurer also announced that it will ban all companies planning to build more than 500 MW of new coal capacity from its investment portfolio. This bold step reinforces the shift of the insurance industry away from coal and increases the pressure on industry laggards to adopt coal exit policies as well.


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