QBE warns of climate risk after $300m hit to revenue from 'unusual' weather | CharlotteGriev1
Insurance giant QBE has warned that climate change poses a material threat to its business and the entire economy after booking a $300 million hit to revenue due to unusual weather events.
In a statement filed alongside the results, QBE chief executive Pat Regan said tensions in the global economy from low economic growth and protectionist trade policies were having an impact on the QBE."What we perhaps feel most profoundly though, is the challenge that climate change presents to our customers and indeed the whole economy," Mr Regan said.
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