Swiss Re withdraws from the Net-Zero Insurance Alliance

After Munich Re, Zurich Insurance and Hannover Re, Swiss Re has also announced its withdrawal from the Net-Zero Insurance Alliance (NZIA). This is the fourth major company to leave the climate coalition.

No official reason for this decision has been disclosed. However, the Zurich-based reinsurer remains committed to its sustainable development strategy.

For the record, Swiss Re is a founding member of NZIA, which was created in 2021 in partnership with seven other insurance and reinsurance heavyweights: AXA, Allianz, Aviva, Generali, Munich Re, Scor and Zurich Insurance.

The alliance's primary objective was to develop standards aimed at achieving carbon neutrality by 2050.