Munich Re stops insuring new oil, gas field projects

As of this month, Munich Re will stop insuring projects involving new oil and gas fields or new midstream oil infrastructure. The decision follows the reinsurer’s move to discontinue its membership in the Net-Zero Insurance Alliance (NZIA).

Climate-related risks, the new normal: QBE

Climate change risk is the “new normal”, Group CEO Pat Regan says in QBE’s annual report, released today with its FY19 results showing 4.2% drop in net profit after tax on FY18, to $US622m ($A924.6m).

Suncorp urges action on climate change

After seven natural catastrophes across Australia and NZ in 1H20 and three subsequent Australian events in January, Suncorp group CEO Steve Johnson has urged governments, communities and the industry to work together to tackle climate change effects.