The Hartford, a top 10 US commercial property and casualty insurer by size, has approximately $3.3bn (£2.5bn) invested in fossil fuels, including more than $667m (£516m) in thermal coal.
A statement from the insurer in January said: “The company will no longer insure or invest in companies that generate more than 25 per cent of their revenues from thermal coal mining or more than 25 per cent of their energy production from coal.
“In addition, the company will also stop insuring and investing in companies that generate more than 25 per cent of their revenues directly from the extraction of oil from tar sands.”
Pension funds and insurance companies are among the world’s largest asset owners.
simoney.kyriakou@ft.com
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