Underwriting

The Talanx Group’s ambition is to achieve net zero emissions by 2050 in underwriting.

In underwriting, a phase-out path for thermal coal risks is defined until 2038. In July 2023, exclusions for certain conventional oil and gas projects in underwriting came into effect, including the general exclusion of project insurances for new greenfield oil and gas projects. In 2024, further restrictions were defined, and the elimination of all existing risks related to oil sands extraction and processing was brought forward to the end of 2025. Additionally, project policies in deep-sea mining are excluded.

This is an abridged description of our exclusions; the full description can be found in the sustainability statement.

In addition to exclusions, the sustainability strategy primarily reflects the Talanx Group's self-conception as a partner of the industry, especially in global corporate & specialty insurance.

With the intention of supporting the transformation, the Group accompanies customers who have an ambitious transformation plan, for example, through risk analyses as well as insuring sustainable technologies and transition risks. It is important to ensure that customers who have yet to face the greatest change are also supported.

The Talanx Group’s engineering insurance operations constantly examine new, environmentally friendly technologies and their insurability. The Group assists here by transferring the risk of property damage or loss of earnings, among other things, hence facilitating the introduction of the innovations concerned. The Talanx Group is already one of the most important renewable energy (re)insurers. Its insurance portfolio ranges from wind power (onshore and offshore) through photovoltaic, geothermal and hydropower and biomass, down to grid and storage expansion. The Talanx Group insures both conventional generation methods and innovations such as floating wind farms and floating photovoltaic plants.

The Talanx Group is also supporting its heavy industry customers in their sustainable transformation e.g. as they switch to green hydrogen.

Further information on the exclusions, partnership support, and products related to renewable energies can be found in the sustainability statement.