Swiss Re is quitting the world’s main climate alliance for insurers, joining a growing exodus from the coalition of some of the industry’s biggest companies.
The world’s second-largest reinsurer is now the fourth major company to walk away from the Net Zero Insurance Alliance, a subunit of the Glasgow Financial Alliance for Net Zero that was formed in 2021.
Swiss Re said its withdrawal doesn’t reflect a lesser commitment to climate policies, and said its sustainability strategy “remains unchanged,” according to an emailed statement sent Monday.
The departure follows that of fellow Swiss firm Zurich Insurance Group AG, as well as Germany’s Munich Re and Hannover Re.
NZIA has no U.S. members, and with the departure of the reinsurer, it has roughly 27 left, including Allianz SE, Aviva Plc and Axa SA, according to the group’s website. The climate alliance said in a statement released last month that it’s taken steps to “advance the net zero insurance agenda globally and to provide its members with a framework they can use to make independent decisions to establish their own individual net zero pathways.”
Officials from NZIA declined to comment Monday after the reinsurer announced its decision.
Swiss Re remains part of the Net Zero Asset Owner Alliance, which is another sub-unit of GFANZ.
The leadership changes coming in June, which also include wealth management and digital unit heads, come as the firm pushes to offer more comprehensive services.
Strategist sees relatively little risk of the university losing its tax-exempt status, which could pose opportunity for investors with a "longer time horizon."
As the next generation of investors take their turn, advisors have to strike a fine balance between embracing new technology and building human connections.
IFG works with 550 producing advisors and generates about $325 million in annual revenue, said Dave Fischer, the company's co-founder and chief marketing officer.
Five new RIAs are joining the industry coalition promoting firm-level impact across workforce, client, community and environmental goals.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
