Munich Re's Hoare warns of reputational risks of insuring fossil fuels

Companies that continue to provide insurance capacity to oil and gas projects may benefit in the short term but at the risk of long term reputational damage, Munich Re Syndicate chief underwriting officer says

Re/insurers that continue to underwrite fossil fuels as other carriers reduce capacity in this area in the face of shareholder and activist pressure will not benefit in the longer term, according to a senior industry figure.