Collaboration with (inter-)governmental and academic institutions
We regularly collaborate with various (inter-)governmental and academic institutions to promote effective approaches to sustainability challenges and to share our expertise on managing specific risks.
Promoting effective sustainability responses
In Europe, we continued our engagement with regulators to highlight the important role insurers play in supporting the transition to a low-carbon, more resource-efficient and sustainable economy in line with the European Green Deal. We provided input to the European Insurance and Occupational Pensions Authority’s (EIOPA) Opinion on Sustainability within Solvency II. Swiss Re participated in climate change-focused regulatory discussions with EMEA regulators including EIOPA, the UK Prudential Regulation Authority (PRA) and the French L'Autorité de Contrôle Prudentiel et de Résolution (ACPR). In addition, Swiss Re staff participated in several leading groups on relevant regulatory topics such as the European Commission Technical Expert Group on ESG benchmarks, PRA/FCA (Financial Conduct Authority) Climate Risk Financial Forum and the EIOPA Technical Expert Group on Cat Risks.
In the US, we have maintained regular dialogue with the National Association of Insurance Commissioners (NAIC), principally on climate change and natural catastrophes.
In Japan we are a member of the TCFD (Task Force on Climate-related Financial Disclosures) Consortium, which was established in May 2019. The inaugural TCFD Summit took place in October 2019. In Singapore we were actively involved in the development of a set of environmental risk management guidelines by the Monetary Authority of Singapore (MAS) for the insurance sector. The guidelines were issued in 2020 after a public consultation exercise.