'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

WWF: Bank of England 'must do more' to address climate and nature risks

WWF: Bank of England 'must do more' to address climate and nature risks

Bank urged to better account for climate impacts and ramp up efforts to boost green growth

Stuart Stone
clock 03 November 2025 • 3 min read
'National priority': England warned to prepare for ongoing drought into 2026

'National priority': England warned to prepare for ongoing drought into 2026

The National Drought Group warns large parts of the country remain in drought which could exceed into next year, following one of the driest springs and warmest summer on record

clock 31 October 2025 • 5 min read
'Vicious cycles': Could climate impacts 'derail' the clean energy transition?

'Vicious cycles': Could climate impacts 'derail' the clean energy transition?

Major new report urges business and policymakers to respond to escalating 'derailment risks', which could quickly undermine the global clean tech boom

James Murray
clock 28 October 2025 • 5 min read