QBE supporting Adani!

At their annual general meeting in Sydney, QBE revealed that even though it has not yet been approached to underwrite the Carmichael mega mine, it has an ongoing relationship with the mine’s owner, Adani.

The insurer, which operates globally and is a major underwriter of fossil fuel infrastructure, supports Adani’s businesses in India, and some of their cargo ships.

Adani is going to need insurance at every point of its plans to build the Carmichael mine and export it to power stations in India and around the world. QBE’s existing relationship means it it highly likely that Adani would approach the company in future.