LONDON (Reuters) – The U.N. convened Net-Zero Insurance Alliance has reiterated members will comply with antitrust laws, following the decision of Munich Re and Zurich Insurance to exit the group in recent weeks.
Munich Re, the world’s largest reinsurer, said on March 31 it was leaving the group to avoid antitrust risks. Zurich Insurance, which followed on April 5, said its decision to withdraw was not linked to Munich Re and declined to comment on the issue of antitrust.
Climate alliances such as the NZIA have been struggling to navigate the perceived threat of antitrust risks — how far companies can collaborate on climate goals without breaching competition rules or be accused of collusion.
(Reporting by Virginia Furness; editing by Simon Jessop)
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