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Arch, Aegis London refuse to underwrite East African Crude Oil Pipeline

Posted On: Nov. 30, 2022 9:19 AM CST


Insurers Arch Capital Group Ltd. and Aegis Managing Agency Ltd. – known as Aegis London – have reportedly refused to underwrite the East African Crude Oil Pipeline, which is meant to transport oil between Uganda and Tanzania, Agence Ecofin reported. The decision comes as pro-environment activists increase pressure on underwriters to distance themselves from this project over environmental concerns.