“Political attacks” are interfering with insurers’ efforts to price climate risks, the Glasgow Financial Alliance for Net Zero said on Friday, after a wave of insurers quit an industry climate group following pressure in the United States.
Japan’s SOMPO Holdings, a major Asian insurer, was no longer on the list of members on NZIA’s website on Friday. It would be the first insurer outside of Europe to quit the alliance. A SOMPO spokesperson did not immediately respond to a request for comment. According to the NZIA website, it now has 23 members including Aviva, Lloyd’s of London and Tokio Marine Holdings.
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