Climate Alliance Faces Mass Exodus from Insurance Industry Leaders

Three more insurance companies, including Tokio Marine, have left the United Nations-backed Net-Zero Insurance Alliance, leaving the group with only 17 members, down from 30 in March. Some Republican politicians have criticized financial institutions collaborating to curb carbon emissions, and a group of Republican attorneys general have accused insurers of potentially breaching antitrust laws in the US. Legal experts say it would be hard to make a case against insurers on antitrust grounds, but cautious international insurers are worried about being sucked into a tussle with US Republicans.