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Talanx pulls out of pipeline project, others may follow

Posted On: Jul. 1, 2020 8:25 AM CST


German insurer Talanx AG has pulled out of Canada's Trans Mountain pipeline project, while Munich Reinsurance Co. and Zurich Insurance Group Ltd.'s are considering doing the same after they unveiled a new policy limiting oilsands underwriting, World Pipelines reports. The statements from Talanx, Munich Re and Zurich Insurance will put pressure on other insurers like Lloyd's and Chubb Ltd. backing the project.

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