Lloyd’s has announced that it has withdrawn from the Net Zero Insurance Allianz, following a raft of other members that have left recently. High-profile names that have left the alliance include Axa, Scor, Allianz, Sompo, Zurich, Swiss Re, Hannover Re and Munich Re.

In a statement, Lloyd’s said: “Lloyd’s has decided to withdraw from the NZIA with immediate effect. We continue to support the UN’s Principles for Sustainable Insurance and Sustainable Development Goals, and remain committed to delivering our sustainability strategy including supporting the global economy’s transition.”

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