Report: Coal 'becoming uninsurable' as cover withdrawal doubles

The number of insurance firms withdrawing cover for coal companies and assets has more than doubled between 2018 and 2019, a new report has revealed.

Pictured: The Shotton surface coal mine in Northumberland. Image: Rab Lawrence 

Written by global NGO network Unfriend Coal, the report states that 17 of the world’s biggest insurers have now published coal exit policies – up from eight in December 2018.

This cohort of businesses accounts, in terms of assets under management (AUM), for almost half (46%) of the world’s reinsurance market, and 9.5% of the global primary insurance market.

Insurers to have published coal exit policies since November include the likes of BNP Paribas, which has set a 2040 cut-off point, and AXA, which is targeting

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