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•  Positive: Many more coal companies to be divested

•  Only excludes coal insurance in industrialised countries

•  Hannover Re is now under increased pressure to act

•    Leading insurers discuss developments in their industry

•    Steps against coal from Swiss Re, Hannover Re and Allianz 

•    German industry leader Munich Re now at the centre of criticism

Allianz, the world’s biggest insurance company by assets, announced today that it will no longer provide stand-alone insurance coverage for coal power plants or coal mines. This bold step reinforces the shift of the insurance industry away from coal and increases the pressure on industry laggards to adopt coal exit policies as well.