Insurers at risk of fines over climate risk reporting failure

The owners of the Admiral and SunLife insurance brands are at risk of being fined for not taking account of the financial risks of climate change

Buildings destroyed by a tornado
Weather-related disasters are a mounting cost to the insurance industry

The owners of the Admiral and SunLife insurance brands are at risk of being fined for not taking account of the financial risks of climate change.

ClientEarth has referred three insurance businesses to the Financial Conduct Authority for not addressing the issue in their annual reports, it emerged yesterday. Admiral (a trading name of EUI Ltd), speciality insurer and re-insurer Lancashire Holdings and Phoenix Group Holdings, which owns closed life assurance funds and the SunLife brand, could face a financial penalty.

Please sign in or register to continue.

Sign in to continue reading

Having trouble signing in?

Contact Customer Support at
report@ends.co.uk
or call 020 8267 8120

Subscribe for full access

or Register for limited access

Already subscribe but don't have a password?
Activate your web account here