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Stock impact report

Lloyd's of London insurer Axis Capital drops bid to cover Carmichael mine -source [Reuters]

Axis Capital Holdings (AXS)  More Company Research Source: Reuters
Last axis capital holdings earnings: 10/29 04:15 pm Check Earnings Report
US:NYSE Investor Relations: axiscapital.com
PDF Lloyd's of London insurer Axis Capital drops bid to cover Carmichael mine -source - Reuters 2 Min Read NEW YORK/LONDON, Oct 2 (Reuters) - Lloyd’s of London insurer Axis Capital has become the latest to rule itself out of providing coverage for Adani Enterprises Ltd’s contentious Carmichael coal mine project in Australia, a source close to the company said on Wednesday. Axis has withdrawn its quotes for insurance of the mine’s railway, the source told Reuters. The insurer will publish a formal policy to cut its exposure to coal more broadly in the weeks ahead, the source added. Axis joins a growing list of global insurers to refuse to insure the project, which received the green light from Canberra in June despite fierce opposition from environmental groups. The Queensland-based Carmichael mine is expected to chalk up annual production of 8 million to 10 million tonnes of thermal coal, responsible for a large slice of the world’s carbon emissions. As a result, 14 large insurers includi [Read more]
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