Reinsurers are important because they insure the insurer

On social media: a very interesting thread:

BREAKING: @MunichRe, the world’s biggest reinsurer, has just adopted an oil and gas exit policy. 🔥 Munich Re underwrites 22% of the global economy so this sends a strong message to insurers, energy companies and governments still considering new fossil fuel infrastructure. 🧵 pic.twitter.com/QMO2F16Lmy

— Peter Bosshard (@PeterBosshard) October 6, 2022

He continued:

With

@MunichRe, @SwissRe, #HannoverRe, @SCOR_SE, @Mapfre and a few others, 43% of the global reinsurance market (by premiums) have now restricted their cover for the oil industry – and all in this year alone.

Even if gaps remain, this is a massive breakthrough!