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Climate change will become a ‘persistent drag’ on insurers’ profitability

By 2022-05-25T12:20:00

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Projections show that insurers are likely to be able to bear the costs of the transition to net zero, however

Climate change and the costs associated with moving towards net zero emissions “will become a persistent drag on banks’ and insurers’ profitability”, said the Bank of England’s deputy governor for Prudential Regulation, Sam Woods.

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