Grade: High Exposure to Destructive Companies

Chubb is one of the world’s largest publicly traded property and casualty insurers, headquartered in Switzerland and operating in over 50 countries. The company offers a broad range of insurance products, from personal and commercial cover to specialist lines for high-net-worth clients and multinational corporations. Chubb has faced criticism for its role in underwriting fossil fuel projects and controversial industries. Environmental groups have accused Chubb of enabling climate destruction by insuring coal, oil, and gas infrastructure, despite the company’s public commitments to sustainability.

HQ
Market Value
Investments Managed
Turnover
Insurance Products
USA
$111 billion
$212 billion
$52 billion
Health - Life - Business - Home - Pet - Travel

Insurance

$

750

million

Fossil Fuel GDPW

3

th

Highest in the world

Fossil Fuel Gross Direct Premiums Written (GDPW) represent the size of Chubb’s business with fossil fuel clients in 2023.

CASE STUDY: Calcasieu Pass LNG Win

  • No Longer Insured by Chubb

After years of relentless campaigning by local residents and environmental activists, Chubb, one of the world’s largest insurers, dropped its $1.5 billion insurance policy for the Calcasieu Pass LNG terminal in Louisiana in May 2025. The decision followed mounting pressure highlighting the terminal’s severe pollution, health risks, and contribution to climate change, as well as direct actions that targeted Chubb’s leadership and public image. This move marks a significant victory for communities in Cameron Parish, who have long suffered from toxic emissions and environmental injustice linked to LNG operations. Chubb’s withdrawal signals growing momentum for climate accountability in the insurance sector.

We have been pressuring Chubb for several years now to not insure these dangerous, polluting projects, because insuring those projects is ensuring environmental racism in communities that are overburdened by pollution.

Insured by Chubb

  • Climate Crisis

Glencore, one of the world’s largest mining companies and a leading trader of fossil-fuel commodities, embodies the brutal realities of neocolonial exploitation. Glencore accounts for a significant portion of global coal production, operating mines in countries like Colombia, South Africa, and Australia, while systematically ravaging environments and trampling human rights.

Its operations in the Democratic Republic of Congo (DRC) are a stark example, where investigations revealed years of waste acid discharge from its Luilu copper refinery, causing severe pollution and ongoing spills. Glencore’s denial of responsibility for child labour at its sites, instead blaming impoverished locals, is a cynical attempt to deflect from its own complicity. Further exposing its predatory practices, the Paradise Papers leak unveiled Glencore’s ties to controversial figures who facilitated the acquisition of undervalued mining rights, robbing the DRC of a tenth of its annual budget.

Glencore’s corruption extends across Nigeria, Côte d’Ivoire, and Cameroon, with its former head of oil trading and four executives facing UK bribery charges, including allegations of flying cash bribes on private jets. In South America, its copper mining has poisoned indigenous lands and rivers in Peru, devastating the health and livelihoods of the Quechua and K’ana peoples while denying compensation. The company’s dark history also includes funding state security forces and paramilitary groups in Colombia and the Philippines to intimidate and murder communities resisting its exploitation.

Insured by Chubb

  • Nuclear Weapons

  • Gaza Genocide

Lockheed Martin, the world’s largest arms manufacturer, stands as a linchpin of global military-industrial power, supplying Israel with some of its most advanced and lethal weapons. The company’s AGM-114 Hellfire missiles have been deployed in Gaza, including a November 2023 strike near Shifa Hospital that killed journalists and other civilians. 

Beyond its role in conventional warfare, Lockheed Martin is central to the global nuclear arms race. The company is responsible for the design, production, and modernisation of nuclear delivery systems, notably the Minuteman III intercontinental ballistic missile, as well as subcontracting for the Sentinel modernisation programme and maintaining Trident II missiles for both the US and UK. Through these contracts, Lockheed Martin ensures the continued operation and lethality of nuclear arsenals that threaten global security.

Insured by Chubb

  • Climate Crisis

  • Gaza Genocide

ENI Energy, the Italian oil and gas supermajor, operates across 60+ countries, leaving a trail of neocolonial exploitation and environmental devastation, particularly in Africa. Its record includes the discovery and continued extraction from Egypt’s massive offshore gas field, alongside the egregious launch of Africa’s first tar sands project in the ecologically vital Congo Basin, threatening invaluable biodiversity and the livelihoods of thousands. The company’s staggering negligence is laid bare by its Nigerian subsidiary’s 52 oil spills between 2021 and 2023, which ravaged local rivers and crops. Worse, ENI not only provided misleading information about the damages but also brazenly refused compensation or acknowledgment for the suffering inflicted on affected communities.

ENI’s complicity extends to the unfolding genocide in Gaza. Just weeks after Israel’s assault on Gaza escalated in late 2023, ENI secured a licence to explore gas fields off Israel’s coast—territory widely recognised as Palestinian maritime waters. Revenues from these projects directly bolster Israel’s military, fuelling its campaign of destruction. 

Insured by Chubb

  • Climate Crisis

ConocoPhillips, an American multinational energy corporation, stands as a major global player in oil and gas exploration and production, whose pursuit of fossil fuel interests often comes at a devastating environmental cost. Despite mounting climate crises, the company continues to push for expansive projects, most notably its Willow project in Alaska’s Western Arctic. This colossal oil venture, fiercely opposed by environmental groups and Indigenous communities, is set to unleash immense carbon emissions, directly undermining global efforts to combat climate change and threatening critical Arctic ecosystems.

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