Unfortunately this article is a miss as it does not compare those investments to their entire portfolio size. Renewables have made great strides but the world still runs on the backs of fossil fuels.

Isn't that just how they hedge bets? Their performance is correlated with the claims they receive. If fossil fuels perform poorly -> less environmental damage -> less claims. And vice versa

Property insurers are even more intense about it than life and business insurers. Berkshire Hathaway and State Farm Insurance are each something like $100B in fossil fuels.