Remaining NZIA members looking to reconstitute group – report

One possibility is getting brokers and regulators involved

Remaining NZIA members looking to reconstitute group – report


By Terry Gangcuangco

A possible new iteration of the Net-Zero Insurance Alliance (NZIA) may include brokers and regulators.

According to a report by the Financial Times, the remaining members of the NZIA have held discussions to explore the prospect of reconstituting the United Nations-convened group following last year’s slew of member departures.

Citing people familiar with the matter, the report pointed to the possibility of broadening the NZIA line-up by adding regulators and brokers to what has been a (re)insurer-only consortium. 

The alliance had about 30 members before the 2023 exodus, which came amid pressure from US Republicans and allegations of antitrust breaches. As of this writing, as shown on the NZIA website, only 11 members remain.

Still listed as NZIA members are Achmea, American Steamship Owners Marine Insurance Company (Europe) Ltd (formerly known as Hellenic Hull Management), ASR Nederland N.V., Aviva Plc, Crédit Agricole Assurances, Fidelis MGU, Generali Group, ICEA LION Life Assurance Company, Intesa Sanpaolo Vita, KB Insurance, and NN Group N.V.

The abovementioned companies are said to be “engaging with a broader community of stakeholders” in hopes of making way for an evolved NZIA. One FT source was cited as saying that having regulators involved would show that the consortium had nothing to hide.  

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