'A strong message': Insurance giant Swiss Re unveils plan to restrict cover for new oil and gas projects

Michael Holder
clock • 3 min read
Swiss Re is the first major insurer to back away from most oil and gas projects | Credit: iStock
Image:

Swiss Re is the first major insurer to back away from most oil and gas projects | Credit: iStock

Swiss firm confirms it will no longer provide insurance for new oil and gas projects unless developers can show they have credible net zero transition plans

Swiss Re has said it will no longer provide insurance for most new oil and gas projects, as the world's second biggest insurer unveiled plans to tighten its policies for providing cover to fossil fuel...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Risk

Rising pest risks: How the Met Office is helping to safeguard UK crops

Rising pest risks: How the Met Office is helping to safeguard UK crops

With climate change driving up temperatures new pests are increasingly becoming established in the UK, which the Met Office warns poses a growing threat to agriculture and forestry

Ashleigh Ellwood, Farmers Guardian
clock 16 February 2026 • 2 min read
How can businesses build the investment case for climate resilience?

How can businesses build the investment case for climate resilience?

BusinessGreen's latest Spotlight webinar brought together a raft of top experts to explore how companies can better understand looming climate impacts and build the business case for adaptation investment

Stuart Stone
clock 16 February 2026 • 10 min read
'Perfect storm': Property insurance claims hit record high in 2025

'Perfect storm': Property insurance claims hit record high in 2025

UK property insurance claims expected to reach £6.1bn in 2025, with £1.6bn of claims related to escalating climate impacts

clock 13 February 2026 • 2 min read