ESG in the insurance sector - CAA raises insurance sector’s awareness on the challenges of meeting sustainability requirements

On 25 August 2022, the Commissariat aux Assurances (the “CAA”) published Information Note 22/9 (the “Note”) to make actors aware of the main existing and forthcoming regulatory texts governing sustainability in the insurance sector.

29/08/2022

On 25 August 2022, the Commissariat aux Assurances (the “CAA”) published Information Note 22/9 (the “Note”) to make actors aware of the main existing and forthcoming regulatory texts governing sustainability in the insurance sector.

The CAA specifies in particular that it expects market actors to:

  1. verify the scope of each text with respect to the entity’s business, size and nature;
  2. implement timely measures to effectively meet the applicable requirements;
  3. track the development of regulatory texts in progress and prepare for their entry into force;
  4. be able to respond to ad hoc requests from the CAA.

The CAA further specifies that it will adapt its supervisory practice to include the verification of compliance with relevant regulatory developments.

The Note includes a table summarising the main texts pertaining to sustainable finance in the insurance sector and outlining their scope of application as well as their key requirements.

Do not hesitate to contact our experts to help you to meet the challenges deriving from the constantly evolving ESG framework and stay ahead of the game.

Read Information Note 22/9 here_

Read our newsflash on integrating sustainability into the Solvency II and IDD frameworks here_

Access our timeline on key ESG milestones in the banking and insurance sectors here_

Contacts

Pierre-Michaël de Waersegger

Partner

Banking & Financial Services, Insurance & Reinsurance Law

Emmanuelle Mousel

Partner

Banking & Financial Services, Insurance & Reinsurance Law

Clara Bourgi

Senior Associate

Banking & Financial Services

YOU MIGHT ALSO WANT TO DISCOVER

06/02/2023
ESG in the insurance sector - CAA follow-up on inclusion of climate change risk scenarios in ORSA

On 24 January 2023, the Commissariat aux Assurances (“CAA”) published Information Note 23/2 about the inclusion of climate change risk scenarios in the ORSA
(“Information Note 23/2”).

Read More_