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After much thought, Hannover Re has decided to withdraw from the Net-Zero Insurance Alliance (NZIA), founded in 2021 by eight insurance and reinsurance heavyweights.
It's the third member to leave the climate coalition in less than a month, after Munich Re and Zurich Insurance.
No details on the reasons for the German reinsurer's withdrawal from the NZIA have been disclosed. Nevertheless, Hannover Re remains committed to its sustainability strategy, associated targets and its support for the Paris Agreement.