Insurers' Climate Losses Almost Match Fossil-Fuel Premiums [BNN Bloomberg (Canada)]
Axis Capital Holdings Limited (AXS)
Last axis capital holdings limited earnings: 1/29 04:15 pm
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Source: BNN Bloomberg
Of the 28 insurers reviewed, more than half were hit by climate-attributed losses that exceeded the coal, oil and gas premiums they earned, Insure Our Future said Tuesday in a statement. On average, fossil-fuel premiums account for less than 2% of total premiums, raising questions about why insurers aren't using their immense influence to protect the other 98% of their business from spiraling climate risks. Insure Our Future said climate change accounted for about $600 billion, or more than 33%, of global insured weather losses over the past two decades. Climate-attributed losses rose to an average 38% of total insured weather losses over the past decade, up from 31%. “The evidence is undeniable,” former California insurance commissioner Dave Jones and senior actuary Louise Pryor wrote in a foreword for the report. “Climate change represents an existential risk for the insurance industry.” Insurers themselves have warned about the rising toll. Swiss Re estimates insured losses
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AXS
Earnings
- 10/30/24 - Beat
AXS
Sec Filings
- 12/16/24 - Form 8-K
- 11/14/24 - Form SC
- 11/12/24 - Form 8-K
- AXS's page on the SEC website