Fidelis becomes a member of ClimateWise

Bermuda-based insurance and reinsurance holding company, Fidelis Insurance Holdings Limited has announced that it has become a member of ClimateWise.

ClimateWise represents a global network of leading insurers, reinsurers, brokers and industry service providers.

Additionally, ClimateWise shares a commitment to lead the industry in responding to the risks and opportunities of climate change.

The ClimateWise Principles require members to disclose their responses to the risks and opportunities of climate change and are aligned with the Task Force on Climate-related Financial Disclosure (TCFD) requirements. A

As a member of ClimateWise, Fidelis will report annually on actions taken in support of these Principles.

“Fidelis is committed to transparency around its sustainability initiatives, and to following a recognised industry disclosure standard. Membership of ClimateWise will provide valuable feedback on our actions relative to peers, as well as enabling us to take part in research collaborations which support the insurance industry on its path towards net zero”, said Olivia Brindle, Head of Sustainability.

Meanwhile, Fidelis recently announced the creation of Fidelis MGU – a new managing general underwriter separated from its existing balance sheet carriers.

However, shortly after Fidelis announced its plans for its new MGU, rating agency AM Best, announced that it has placed the financial strength ratings of Fidelis and its subsidiaries under review with negative implications.

Source: Reinsurance News, https://www.reinsurancene.ws/fidelis-becomes-a-member-of-climatewise/