Insurance

EU supervisors estimate trillions in losses from 'run on brown' assets

European financial institutions stood to lose trillions of euros from a 'run on brown' assets, financial supervisors estimated in a first-of-its-kind stress test - but the financial impacts of climate-related "transition risks alone are unlikely to threaten financial stability".

COP29: Transition plan guide for insurance companies launched

Eiopa recommends additional capital requirements for insurers' fossil fuel assets

The European Insurance and Occupational Pension Authority (Eiopa) has recommended higher capital requirements for European insurers holding fossil fuel assets.

NZAOA members warn their progress on decarbonisation at risk from policy inaction

Insurers and pension fund members of the Net Zero Asset Owner Alliance (NZAOA) have warned their progress on decarbonising their portfolios could be about to slow because the wider global economy is not showing signs of matching their efforts.

Danish regulator uncovers shortcomings in bank and insurer taxonomy reporting

Denmark's financial regulator has found widespread "shortcomings" by the country's banks and insurers in a study of the first year of mandatory reporting of taxonomy alignment under EU regulation.

More policy needed for city-level climate adaptation strategies, says Zurich

Manulife IM: There's a long way to go on nature data

Manulife is beginning to look for new nature investment opportunities but has told Environmental Finance why it is rejecting the use of large datasets and nature footprinting.

Insurance industry 'not ready' for incoming nature risks, says Aviva

The insurance industry is "not ready" to deal with some of the physical impacts of the nature and climate crises, UK insurer Aviva has warned, calling for urgent education for governments and customers.

EIOPA urged to include transition risks in solvency requirements

NAIC defends climate work against political questioning

The National Association of Insurance Commissioners (NAIC) has defended its work on climate-risk and resilience-related efforts against questioning from US politicians focused on the crisis in the country's property insurance market.

Zurich to drop oil and gas producers lacking credible transition plans by 2030

Zurich has unveiled its 2024 climate transition plan that sets interim targets and the strategy to achieve net-zero by 2050 across its insurance business, investments and operations.

'Unlock renewables investment' by freeing up insurers to invest in infrastructure equity

Investment in renewables could be "unlocked" if it was made easier for insurers to invest in infrastructure equity, Schroders Greencoat has claimed.

Australia's prudential regulator to 'raise expectations' on climate risk management

Swiss Re launches 'first-of-its-kind' carbon credit insurance

Swiss Re Corporate Solutions supports insurance for long-term carbon credits