Grade: High Exposure to Destructive Companies
Liberty Mutual is a US-based global insurance giant, ranking among the world’s largest property and casualty insurers, with a vast network spanning nearly 30 countries and over 900 locations. Despite superficial commitments to sustainability, the company remains deeply entrenched in the fossil fuel industry, notoriously underwriting and investing in highly polluting projects worldwide, from tar sands oil pipelines to Arctic drilling ventures.
|
HQ
|
Market Value
|
Investments Managed
|
Turnover
|
Insurance Products
|
|---|---|---|---|---|
|
USA
|
n/a
|
$92 billion
|
$3 billion
|
Business
|
Insurance
$
500
million
Fossil Fuel Gross Direct Premiums Written (GDPW) represent the size of QBE’s business with fossil fuel clients in 2023.
CASE STUDY: Freeport LNG Terminal
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Insured by Liberty Mutual
- Texas, USA
The Freeport Liquid Natural Gas (LNG) Terminal in Texas became a focal point of controversy following a major explosion in June 2022. This incident severely disrupted its operations, highlighting the inherent risks associated with such large-scale fossil fuel infrastructure. Local residents and environmentalists have long warned of such dangers. Despite these warnings and the plant’s safety violations, Freeport LNG was fined only $1.5 million and resumed operations after repairs.
Insurers aren’t going to make changes to how they cover fossil fuels, and especially LNG, on their own. Pressuring the industry to make the changes is vital to slowing climate change.
Insured by Liberty Mutual
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Gaza Genocide
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Nuclear Weapons
The Italian arms giant Leonardo supplies the deadly naval gun systems mounted on Israel’s Sa’ar-class warships, the brutal enforcers of Gaza’s illegal naval blockade. These warships, including the heavily armed Sa’ar 6 corvettes, form the backbone of Israel’s naval oppression, cutting off food, fuel, and medical supplies to Gaza’s besieged population. In October 2023, Leonardo’s weaponry saw its first bloody deployment as Sa’ar 6 ships bombarded Gaza, directly enabling Israel’s indiscriminate assault on Palestinian civilians. By arming these warships, Leonardo isn’t just complicit in collective punishment—it’s a key enabler of what legal experts say constitutes war crimes. While posing as a “defence” contractor, the company profits from the machinery of occupation, turning Gaza’s coastline into a militarised kill zone where Palestinian fishermen are shot at and humanitarian aid is blocked.