Insurance CEOs back climate change measures
Executives from some of the world’s largest insurance companies have given their backing to action on climate change in a
new video. CEOs and other executives from
Allianz, Aviva,
AXA,
Zurich and Standard Life are calling for an agreement from world leaders to reach a strong global agreement on climate change ahead of the UN conference in Paris next week. The video has been created by the Association of British Insurers. Its director of advocacy Louise Hanson commented: “The insurance sector is using its expertise and assets to be at the forefront of the change towards a low carbon economy. Paris provides the opportunity for an international agreement to ensure the future policy environment is supportive of these efforts."
Nippon regains Japanese top slot
Nippon Life Insurance Co. is once again the top premium revenue earner in the Japanese life insurance market following a 17.8 per cent rise in the first half of the business year compared with the same period in the previous year. The Japan Times reports that the firm, which has made recent acquisitions in Australia and India, has led revenues in Japan since the war but was toppled last year by Dai-ichi Life Insurance Co. which started including revenues from its US subsidiary Protective Life Corp.
Canada needs national flood program says IBC
The Insurance Bureau of Canada has called for federal and provincial governments and industry to work together to create a national flood program. At a conference in Edmonton Thursday IBC chief executive Don Forgeron said that a collaborative approach is necessary to tackle “a problem that has been growing in frequency and severity.” The 2013 floods in Alberta was the largest insured loss ever in Canada and Mr Forgeron noted: A national flood program, we believe, would offer a much more mature, comprehensive and disciplined way to compensate people as a result of damage from flood.” The IBC has teamed up with LexisNexis to help it develop and manage a national flood risk initiative.
