Governance

Governance

This topic considers the different aspects of the UK governance regime that (re)insurers need to be aware of.

ESG and insurance

Practice Note: ESG and insurance—essentials considers the environmental, social, and governance (ESG) initiatives, regulations and legislation that are relevant to (re)insurers and intermediaries.

Practice Note: ESG risks and liabilities for the insurance industry focuses on why (re)insurers and intermediaries need to address ESG risks.

Practice Note: Sustainable finance and ESG in the UK financial sector—FCA's priority areas sets out the Financial Conduct Authority (FCA)’s priority areas in relation to sustainable finance and ESG issues, including the FCA’s ESG strategy; its work in relation to climate-related disclosures, and sustainability disclosure requirements (SDR) and investment labels (intended, among other things, to increase trust and combat greenwashing). It also covers the FCA’s involvement in international reporting standards and the FCA’s ESG-related supervisory priorities.

In April 2019, the Bank of England (BoE) and the Prudential Regulation Authority (PRA) became the first central bank and supervisor to set supervisory expectations for banks and insurers on the management of climate-related financial risks, covering governance, risk management, scenario analysis

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