Convex has no comment on controversial coalmine
Convex Insurance has responded to Wednesday’s demonstration by the UK activist group, Market Forces, which is protesting the refusal by Convex to rule out providing insurance cover to a $16-billion Australian coalmine by Convex.
Market Forces staged a demonstration outside the Hamilton offices newly occupied by the global insurer at Point House on Front Street.
They have targeted the company and Convex Chairman and CEO Stephen Catlin through high-profile, public demonstrations in London and Bermuda, where Convex has offices.
Market Forces said Convex refused to rule out providing insurance cover for the coalmine when other major companies had done so, turning their backs on the controversial Adani Carmichael mega-coal mine in Queensland's Galilee Basin.
But through publicists, Convex said in a prepared statement: “Due to client confidentiality, Convex is unable to comment on specific risks or types of business, which it may or may not underwrite.”
The coal project includes a proposed 235-mile rail line, which would pave the way for further mines in the region.
It faces substantial local opposition.
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