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Aspen, Axa XL withdraw from planned mine

Posted On: Jul. 3, 2020 8:14 AM CST

Bermuda-based Aspen Insurance Holdings Ltd. and French insurer Axa SA's subsidiary Axa XL have withdrawn from a planned coal mine and rail project in the Australian state of Queensland, The Royal Gazette reports. Aspen and Axa XL are the latest insurers to step away from the Indian conglomerate Adani Group's proposed Carmichael mine amid mounting pressure on the insurance industry to distance itself from the fossil fuels sector.

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