2023 ranking of insurers and reinsurers based on their fossil fuel exit strategies
Insure Our Future has published an annual ranking of the top 30 insurers and reinsurers based on their withdrawal from the fossil fuel industry. Companies are ranked according to their underwriting and investment policies in polluting industries.
Allianz takes the lead in 2023 in the polluting industries risk coverage category. It is followed by Generali, which was ranked 6th in 2022.
Aviva and Swiss Re have maintained their positions from the previous year, ranking third and fourth respectively in the top 30. AXA, which came second in 2022, has moved down to fifth place in 2023. This is due to its non-selective hedging strategies for oil and gas risks.
It is worth noting that Insure Our Future symbolically keeps the top three places in this category empty.
As for the investment category, the reinsurer SCOR is ranked first. It is followed by Generali, Swiss Re, AXA and Zurich.
| Ranking based on withdrawal of coal, oil and gas coverage | ||||||||
|---|---|---|---|---|---|---|---|---|
| Rank | Companies | SCORE/10 | Rank | Companies | SCORE/10 | Rank | Companies | SCORE/10 |
| 1 | Allianz | 6.63 | 11 | HDI Global | 3.08 | 21 | Travelers | 1.17 |
| 2 | Generali | 5.39 | 12 | Mapfre | 2.99 | 22 | Ping An | 0.56 |
| 3 | Aviva | 5.06 | 13 | QBE | 2.11 | 22 | Liberty Mutual | 0.44 |
| 4 | Swiss Re | 4.54 | 14 | AIG | 1.61 | 24 | Lloyd’s | 0.08 |
| 5 | AXA | 4.2 | 15 | Chubb | 1.5 | 25 | W.R. Berkley | 0 |
| 6 | Hannover Re | 3.94 | 16 | Sompo | 1.43 | 26 | Berkshire Hathaway | 0 |
| 7 | Axis Capital | 3.89 | 17 | MS&AD | 1.33 | 26 | Everest Re | 0 |
| 8 | Zurich | 3.54 | 18 | Tokio Marine | 1.33 | 26 | PICC | 0 |
| 9 | Munich Re | 3.22 | 19 | Samsung FM | 1.31 | 26 | Sinosure | 0 |
| 10 | SCOR Re | 3.12 | 20 | The Hartford | 1.28 | 26 | Starr | 0 |
| Ranking based on withdrawal of coal, oil and gas investments | ||||||||
|---|---|---|---|---|---|---|---|---|
| Rank | Companies | SCORE/10 | Rank | Companies | SCORE/10 | Rank | Companies | SCORE/10 |
| 1 | SCOR Re | 10 | 11 | HDI Global | 3.5 | 21 | Lloyd’s | 2.2 |
| 2 | Generali | 5.8 | 12 | Hannover Re | 3.2 | 22 | Chubb | 1.1 |
| 3 | Swiss Re | 5.6 | 13 | Munich Re | 3.1 | 22 | Ping An | 1.1 |
| 4 | AXA | 5.6 | 14 | AIG | 2.4 | 24 | Liberty Mutual | 1.1 |
| 5 | Zurich | 5.3 | 15 | The Hartford | 2.4 | 25 | W.R. Berkley | 1.1 |
| 6 | QBE | 5.1 | 16 | Travelers | 2.4 | 26 | Berkshire Hathaway | 0 |
| 7 | Axis Capital | 4.9 | 17 | Sompo | 2.2 | 26 | Everest Re | 0 |
| 8 | Aviva | 4.8 | 18 | MS&AD | 2.2 | 26 | PICC | 0 |
| 9 | Allianz | 4.0 | 19 | Tokio Marine | 2.2 | 26 | Sinosure | 0 |
| 10 | Mapfre | 4.0 | 20 | Samsung FM | 2.2 | 26 | Starr | 0 |
