Zurich Latest To Drop Out Of Net-Zero Insurance Alliance

Zurich Insurance Group has become the latest Net-Zero Insurance Alliance (NZIA) member to quit the organization within days, hot on the heels of Munich Re.

In a statement, Zurich said that ‘after establishing a standardized methodology for measuring and disclosing greenhouse gas (GHG) emissions associated to insurance and reinsurance underwriting portfolios, we want to focus our resources to support our customers with their transition.’

‘We continue to remain fully committed to our sustainability ambitions and to supporting the net-zero transition.’

Zurich is the second founding company, after Munich Re, to exit the NZIA in a matter of days.

Munich Re CEO, Joachim Wenning, said in a statement last week that ‘the opportunities to pursue decarbonization goals in a collective approach among insurers worldwide without exposing ourselves to material antitrust risks are so limited.’