AXA: corporate responsibility policies for AXA XL
(CercleFinance.com) - The new division dedicated to AXA XL corporate insurance will implement AXA Group's corporate responsibility policies, particularly those in the fight against climate change, tobacco and controversial weapons.
“The decision... means applying underwriting and investment restrictions to a significant business book.”
AXA XL will no longer underwrite contracts relating to the construction and operation of coal-fired power stations, coal mines, the extraction of oil sands and associated pipelines, or drilling in the Arctic region.
Activities related to tobacco and "controversial weapons" will also be excluded. This will represent over 100 million euros of gross written premiums. In addition, AXA XL will apply AXA's investment exclusions policy, representing divestment of 660 million euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
“The decision... means applying underwriting and investment restrictions to a significant business book.”
AXA XL will no longer underwrite contracts relating to the construction and operation of coal-fired power stations, coal mines, the extraction of oil sands and associated pipelines, or drilling in the Arctic region.
Activities related to tobacco and "controversial weapons" will also be excluded. This will represent over 100 million euros of gross written premiums. In addition, AXA XL will apply AXA's investment exclusions policy, representing divestment of 660 million euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.