Insurers Quit Climate Club in Droves After Threats From GOP
- Scor, Allianz, Axa are latest to leave NZIA after GOP attacks
- Anti-ESG push is led by attorneys general from 23 US states
The world’s biggest climate alliance for insurers has started hemorrhaging members, after Republican attorneys general accused the group of antitrust violations.
On Thursday, French insurers Axa SA and Scor SE, as well as Allianz SE of Germany, became the latest members of the Net Zero Insurance Alliance to walk out, bringing to seven the number of high-profile defections in less than two months. Axa’s departure is particularly noteworthy, as the firm had chaired the alliance.