April 24, 2020 / 3:35 PM / a month ago

NYC comptroller urges major insurers to sever ties with coal industry

(Reuters) - New York City Comptroller Scott Stringer on Friday urged the executives of three large insurance companies to end their ties with the coal industry.

Stringer sent letters to the executives of Berkshire Hathaway (BRKa.N), which has a large insurance group, American International Group (AIG.N), and Liberty Mutual Insurance.

"Divesting from the coal industry is the right thing to do for our planet, our future, and our children – and it's the smart thing to do for investors and shareholders," Stringer said in a statement. (on.nyc.gov/2Y1XFKD)

Reporting by Bharath Manjesh in Bengaluru; Editing by Vinay Dwivedi

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