Analysts find loopholes in Korean Re’s move to halt coal reinsurance

The company announced it will stop providing reinsurance to new coal mining or power plants.

Insurance company Korean Re will no longer provide reinsurance for new coal mining and power plants, a move that may have left “significant” loopholes, an analyst found.

“While we welcome this move from Korean Re, its new coal restrictions are weaker than the policies of all its international peers,” Peter Bosshard, a coordinator of the international Insure Our Future campaign, said.

“They do not address reinsurance treaties for ongoing coal operations and even allow continued support for many new coal projects.”

More than 60% of the insurance market across the globe has also moved away from insuring coal projects.

In the case of Korean Re, its current policies allow exceptions based on national energy policies.

“The policy also ignores the need to end support for new oil and gas projects. Korean Re should strengthen its fossil fuel policy so it reflects climate science and the best practices of the industry,” he said.

Follow the link s for more news on

Asia coal-fired plants

coal phaseout

Also Read

Smart grid funding fell by 33% in in the first nine months of 2024

Tata Power, IndusInd Bank to offer solar financing for MSEs

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

India’s Rajasthan and Gujarat need policy reforms to fuel RE transition

Some steps they could take are implementing green tariffs and setting infrastructure funds.

5 hours ago

Global clean energy tech market to hit $2t by 2035

This is fuelled by investments as countries aim to enhance energy security.The global clean energy technology market is projected to grow from $700b in 2023 to over $2t by 2035, nearing the scale of the crude oil market, according to the International Energy Agency (IEA).This growth is fuelled by significant investments in clean technology manufacturing as countries aim to enhance energy security, maintain economic competitiveness, and cut emissions. Investment is concentrated in regions with established positions in clean energy, particularly China, the European Union, the UK, and increasingly, India.Whilst the US, EU, and India have taken measures to support their clean energy sectors, China is expected to remain the world's manufacturing hub. By 2035, China's clean technology exports are forecasted to exceed $340b—comparable to projected oil export revenues from Saudi Arabia and the UAE.Southeast Asia, Latin America, and Africa contribute less than 5% of global cleantech production value, yet the IEA suggests that these areas still hold opportunities within the clean energy economy. Developing economies, for instance, could leverage competitive advantages to advance in the value chain beyond resource extraction.The IEA said Southeast Asia could become one of the most cost-effective regions for producing polysilicon and wafers for solar panels over the next decade.

6 hours ago

NSW OKs Liverpool Range Wind Farm expansion