Lloyd’s fossil fuel exit to stimulate Asian insurance
The decision by Lloyd’s of London to exit coverage for the most polluting fossil fuel projects may just spur creation of underwriting capacity elsewhere
Lloyd’s of London’s December announcement that it would end insurance coverage for the most polluting fossil fuel projects is likely to result in boom in local insurance provision in developing markets, especially in Asia, according to industry experts. The world’s largest commercial insurance market announced that its members will stop providing insurance for investment in thermal coal-fired power plants, thermal coal mines, oil sands and new Arctic energy exploration. Managing agents in the Lloyd’s market will no longer be able to start new contracts from 1 January 2022, with a target date of 1 January 2030 for multi-year coverage to end. The result is that coal mining, heavy oils and oil
Also in this section
28 November 2025
The launch of the bloc’s emissions trading system in 2005 was a pioneering step, but as the scheme hits 21 its impact as a driver of decarbonisation is still open to debate
18 November 2025
Vicki Hollub, president and CEO of Occidental, has been selected as the 2026 recipient of the Dewhurst Award, the highest honour bestowed by WPC Energy. The Dewhurst Award celebrates exceptional leadership, groundbreaking innovation and a lifetime of significant achievements in sup-port of the development and advancement of the energy industry.
11 November 2025
Transition policies must recognise that significant industrial demand for carbon will continue even as economies hit net zero
6 November 2025
After years of pursuing ideologically driven climate leadership, Western powers are now stepping back under mounting political pressure and rising populist opposition—prompting concern essential climate action could be sidelined
