Innovation in insurance in the spotlight after COP26

LONDON, December 13, 2021– (BUSINESS WIRE) – The ambitious plans to reduce carbon emissions, protect communities and natural habitat, and mobilize funding, endorsed by world leaders at the United Nations COP26 meeting, are likely to to have an impact on the (re) insurance industry, creating a range of opportunities and challenges.

A new Best’s special report, “Insurance Innovation Under the Spotlight After COP26”, states that (re) insurers have the potential to make a unique contribution to the climate risk innovation that governments around the world seek to encourage.

According to the authors of the report, strengthening the resilience of policyholders through better loss prevention, adaptation and efficient claims payment are key areas in which insurers can be most effective in supporting the ambitions of COP26.

AM Best noted that (re) insurers already play an important role in the development of sustainable finance, notably through investment strategies for their large portfolios of global assets, which can take the form of investments in assets such as solar and wind farms.

However, the report stresses that greener does not necessarily mean better, in terms of performance or credit quality. Therefore, to manage the potentially higher investment risk, a number of (re) insurers choose to integrate ESG factors holistically into the investment portfolio rather than giving them absolute priority over others. investment objectives.

To access a free copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=315682.

AM Best is a global credit rating agency, news publisher, and data analytics provider specializing in the insurance industry. Based in the United States, the company operates in more than 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2021 by AM Best Rating Services, Inc. and / or its affiliates. ALL RIGHTS RESERVED.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211213005144/en/

Contacts

Jessica Botelho-Young, California
Associate Director, Analytics
+44 20 7397 0310
[email protected]

Ghislain Le Cam, CFA, FRM
Director, Analytics
+44 20 7397 0268
[email protected]

Richard banks
Director, Industrial Research – EMEA
+44 20 7397 0322
[email protected]

Jim peavy
DDirector, Communications
+1 908 439 2200, ext. 5644
[email protected]

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