- Revealed – top fossil fuel insurers
Campaign urges industry to support climate target
The Insure Our Future campaign warns today in its seventh annual scorecard on insurers’ climate policies that despite the insurance industry’s initial warnings about the climate emergency 50 years ago, insurers are still contributing to the crisis by supporting fossil fuel projects.
Most insurers continue to back projects that increase oil and gas production, a stance incompatible with the 1.5°C Paris climate target set by leading climate scientists. According to research by Insuramore, fossil fuel insurance earned the industry around $21.25 billion in 2022.
Insuramore estimates that insurers at Lloyd’s of London collectively underwrite the most fossil fuel policies, with estimated annual premiums ranging between $1.6-$2.2 billion. The top 10 insurers in the fossil fuel sector are as follows:
Top 10 fossil fuel insurers in 2022
Country of HQ
Premium range (millions)