Any deal would make Thierry Derez’s mutual insurer Covéa finally realize its ambition to acquire a large global reinsurance operation and a takeover of AXA XL Re would strengthen its standings in the non-life reinsurance sector and diversify its offering.

AIA Group picks up 24.99% stake in China Post Life Insurance

Jun 29, 2021

Lee Yuan Siong, AIA’s Group Chief Executive and President, said: “The Chinese insurance market is already the second-largest in the world with immense long-term growth opportunities given the protection gap of more than US$40 trillion6. This unique investment in China Post Life enables AIA to capture additional areas of growth and benefit from the substantial potential for value creation.

MS&AD becomes the first Japanese insurer to adopt coal exit policy

Jun 28, 2021

Yuki Tanabe, Program Director at the Japan Center for a Sustainable Environment and Society (JACSES), said: “We welcome MS&AD’s announcement to completely end insurance underwriting for new coal-fired power generation projects, and urge other Japanese non-life insurers, such as Tokio Marine and Sompo, to establish similar policies immediately.”

$1 billion fund for renewables among key energy commitments made during UN ministerial forums

Jun 28, 2021

Globally, nearly 760 million people lack access to electricity and 2.6 billion continue to cook with traditional fuels like wood that not only contribute to carbon emissions but also causes 4 million deaths each year from indoor smoke.

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