Munich Re, Swiss Re won’t support coal industry mutual fund

Reinsurers Munich Reinsurance Co. and Swiss Reinsurance Co. Ltd. have refused to reinsure a mutual fund proposed to cover the Australian coal industry risks, as the fund does not align with their climate policies, Commercial Risk reported citing Reuters. The coal industry mutual fund is seen as a potential option to insure and fund coal projects, as mainstream insurers withdraw support for coal sector.