NZIA holds talks over future as Allianz, Axa and Scor quit

Written by Adam Cadle

25/05/2023

The Net-Zero Insurance Alliance (NZIA) has been holding talks today to discuss its future after three more companies – Allianz SE, Axa SA and Scor SE – pulled out in the face of growing political opposition in the US.

Of the eight founding members of the NZIA, at least five have now left. Axa group chief risk officer said the insurer was leaving to “continue its individual sustainability journey”, and Allianz said it had decided to leave to "stick to its own climate goals".

The NZIA has been buffeted by growing political opposition from some Republicans in the United States, who say the group could be violating antitrust laws. This month, 23 US state attorneys general told NZIA members that the group’s targets and requirements appeared to violate both federal and state antitrust laws.

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