We respond to the European Commission’s proposal aimed at reviewing the prudential framework for European (re)insurers, Solvency II.

Overall, we welcome the Commission’s efforts to integrate sustainability considerations in Solvency II, but much more ambitious regulatory changes are needed to allow the European insurance sector to be prepared in the face of mounting sustainability risks. Several parts of the proposal could be strengthened, and new measures should be introduced to allow European insurers to play a positive role in the transition to a greener and fairer economy, in view of achieving the EU’s sustainability ambitions.

Read our full Policy Briefing on how to integrate sustainability considerations in Solvency II here, and our latest ranking of 70 of the world’s largest insurers’ approaches to responsible investment and underwriting here.