By David Sachs

Axa on Thursday said it has set public decarbonization targets for its property and casualty portfolios for the first time, and that it will develop a claims management system for its personal-motor business to aid the transition.

The French insurer said it will reduce the carbon emissions of its largest commercial insurance clients by 30% by 2030, and reduce the carbon intensity of its most significant personal-motor portfolios by 20%. Both goals will use 2019 levels as a baseline, Axa said.

Axa said it will develop "environmentally sustainable claims management for its motor business by 2026."

The company also plans to reduce the carbon intensity of other corporate clients by 20%, compared to a 2021 baseline, it said.

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

June 29, 2023 09:13 ET (13:13 GMT)

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