Large German Insurance Companies Hoaxed By Global Warming

Posted: 8/5/2018

Trigger

Read this article today in the online Frankfurter Allgemeine Zeitung: SORGE VOR KLIMAWANDEL : Munich Re steigt aus der Kohle aus (German language only). One of the largest reinsurance companies in the world, i.e. Muenchener Re, announced it would not longer insure or invest in coal related businesses. This article also mentions that the Allianz, i.e. the second largest global insurer, has been disinvesting from coal, even from harbors that process coal.

Global Implications

If the top managers from two global powerhouse insurance companies, both happen to be German companies, are foolish enough to think that to give in to the Global Warming hoax is good business, then this is highly alarming. Many countries and many people around the globe still depend on coal as a source of energy.

One can only hope that the shareholders of these two public listed companies will fire these top managers! The earlier, the better!

Further, one hopes that the competition will pick up this business ASAP!