June 19, 2018 / 2:27 PM / a year ago

Hannover Re adopts greener investment policy amid industry shift

FRANKFURT (Reuters) - Hannover Re will no longer invest in companies that earn 25 percent or more of revenue from mining or burning coal, a spokesman said on Tuesday.

The German reinsurance group is the latest to adopt a greener investment policy as the industry comes under pressure from environmental groups.

The spokesman said in an email with Reuters that the policy began “some months ago”. But details of the policy are new.

In May, Allianz said it would immediately stop insuring single coal-fired power plants and coal mines.

Reporting by Tom Sims; Editing by Maria Sheahan

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