Réassurance : faire de Monte-Carlo un rendez-vous pour le climat

The statement highlights the financial impact of climate-driven natural disasters on European reinsurers and urges SCOR and Munich Re to align with Swiss Re and Hannover Re by ending reinsurance for new oil and gas production projects.

• Extreme weather events in 2022 have caused significant financial losses for major European reinsurers. SCOR suffered approximately €240 million in losses in the first half of 2022, while Hannover Re recorded €850 million in 'significant losses' (damages exceeding €10 million) during the same period. Swiss Re spent €1.2 billion on extreme climate events in the first half of 2022, representing over half of its natural disaster budget.
• There is a disparity in climate policies among the four largest European reinsurers regarding new oil and gas projects. Hannover Re and Swiss Re announced in March 2022 that they would no longer provide facultative reinsurance for new oil and gas production projects. In contrast, SCOR only restricts insurance and facultative reinsurance for new oil projects, still allowing new gas fields. Munich Re only restricts insurance and reinsurance for oil sands and Arctic oil and gas projects.
• The document calls for all major European reinsurers, as members of the Net-Zero Insurance Alliance, to adopt transition plans by June 2023. The primary demand is the immediate cessation of facultative reinsurance for all new oil and gas production projects and the integration of exclusion measures for oil and gas developers within reinsurance treaties.

APA

Martin, L. (2022). Réassurance : faire de Monte-Carlo un rendez-vous pour le climat. Reclaim Finance. https://reclaimfinance.org/site/2022/09/08/reassurance-faire-de-monte-carlo-un-rendez-vous-pour-le-climat/

Chicago

Martin, Léo. Réassurance : faire de Monte-Carlo un rendez-vous pour le climat. Reclaim Finance, 2022. https://reclaimfinance.org/site/2022/09/08/reassurance-faire-de-monte-carlo-un-rendez-vous-pour-le-climat/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=Réassurance : faire de Monte-Carlo un rendez-vous pour le climat |publisher=Reclaim Finance |date=8 September 2022 |url=https://reclaimfinance.org/site/2022/09/08/reassurance-faire-de-monte-carlo-un-rendez-vous-pour-le-climat/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin2022rassurance, author = {Martin, Léo}, title = {{Réassurance : faire de Monte-Carlo un rendez-vous pour le climat}}, publisher = {Reclaim Finance}, year = {2022}, month = sep, url = {https://reclaimfinance.org/site/2022/09/08/reassurance-faire-de-monte-carlo-un-rendez-vous-pour-le-climat/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }