Axis capital announces a new policy

Axis capital has announced a new policy that will see it exit the market for insurance or facultative reinsurance for the construction of new thermal coal plants or mines, or oil sands extraction and pipeline projects. the global provider of specialty lines insurance and treaty reinsurance said the policy is a component of a broader corporate citizenship program led by axis general counsel, conrad brooks, and overseen by axis president and ceo, albert benchimol, and the corporate governance and nominating committee of the axis board of directors. this policy, which extends to dedicated infrastructure for coal and oil sands projects, will also see the company no longer offer cover to companies that generate 30% or more of their revenues from thermal coal mining, generate 30% or more of their power from thermal coal, or hold more than 20% of their reserves in oil sands. and, in terms of investments, axis said it will not make new investments in companies that generate 30% or more of their revenues from thermal coal mining, that generate 30% or more of their power from thermal coal, or that hold more than 20% of their reserves in oil sands.
AXS Ratings Summary
AXS Quant Ranking