Archive

  • Insurers facing issues in quantifying nature risk

    13 June 2024

    Incorporating nature and biodiversity risks into the Solvency II own risk and solvency assessment (Orsa) presents challenges for insurers due to mismatching timeframes and lack of data, according to ASR.

  • Some 40 insurers set out plans for nature action with UN

    30 May 2024

    The UN's Principles for Sustainable Insurance (PSI) has outlined the "concrete outputs" it aims to produce from its Nature-Positive Insurance (NPI) working group.

  • UK regulator likely to require bank, insurer transition plan disclosure, Crowe predicts

    15 May 2024

    UK banks and insurers are likely to be required to disclose climate transition plans and demonstrate how they are engaging with clients to achieve targets in these plans, under expected updates by the Prudential Regulation Authority (PRA), consultancy Crowe has predicted.

  • UN kills off NZIA and launches multi-stakeholder forum for net zero

    25 April 2024

    The UN Environment Programme (UNEP) has discontinued the Net-Zero Insurance Alliance (NZIA), which suffered an exodus of most of its members in spring 2023 due to antitrust risks.

  • NZAOA releases fourth target setting protocol

    19 April 2024

    The UN-convened Net-Zero Asset Owner Alliance (NZAOA) has released the fourth edition of the Target-Setting Protocol (TSP V4) which expands private asset classes coverage, requires a new round of targets and introduces the assessment of govvies' holdings.

  • Allianz rejected 34 insurance deals in 2023 due to sustainability risks

    14 March 2024

    Allianz's sustainability assessment processes resulted in it not proceeding with insurance transactions for 34 customers last year, according to its 2023 sustainability report.

  • Lack of nature-related scenarios a challenge for target setting, insurers say

    13 March 2024

    While insurers increasingly consider nature and biodiversity in their investment programmes, leveraging the work done on climate to set targets on nature is not always an easy fit..

  • Nature is a natural fit for insurers but comes with difficulties, says Zurich director

    12 March 2024

    Putting capital into nature makes sense for insurers' business models, Danielle Brassel, director of responsible investment at Zurich, has said, but there remain issues before the industry can fully integrate it into their work.

  • Paris Agreement 'missed a trick' by not creating standard-setters, says Swiss Re

    16 February 2024

    The insurance sector must look to external bodies to define the standards needed to make progress towards net-zero - but those bodies don't exist, according to Swiss Re's CEO.

  • US West Coast insurers face up to $40bn in climate-related losses

    07 February 2024

    An analysis of the investments of insurers licensed in the US West Coast has found climate change could create losses of up to $40 billion for their corporate bond portfolios.