Lloyd’s of London, Zurich and Swiss Re among top 10 insurers of largest US coalmines, study finds
Lloyd’s of London and other big European insurers are underwriting almost a third of US coal production despite their net zero pledges, according to research, with the Lloyd’s insurance market emerging as the second-biggest player.
Coal is the largest contributor of carbon dioxide emissions, and the US is the fourth largest producer of coal worldwide, last year mining 595m short tons – a measure commonly used in the US equal to 2,000 pounds . AIG is the biggest underwriter of US coal, insuring seven mines producing 167m short tons in 2022, 28.1% of national output. Lloyd’s of London comes second, with Lloyd’s insurers underwriting 10 mines producing 135m short tons, 22.8% of output.
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