Climate crisis on track to destroy capitalism, warns top insurer Action urgently needed to save the conditions under which markets – and civilization itself – can operate, says senior Allianz figure Damian Carrington Environment editor – Guardian. Thu 3 Apr 2025 11.41 CEST The climate crisis is on track to destroy capitalism, a top insurer has warned, with the vast cost of extreme weather impacts leaving the financial sector unable to operate. The world is fast approaching temperature levels where insurers will no longer be able to offer cover for many climate risks, said Günther Thallinger, on the board of Allianz SE, one of the world's biggest insurance companies. He said that withou...