- Disclosure requirements:
- Risk management:
- Product governance, suitability and conflicts of interest:
- to evaluate the “ESG competences” present both at board level and at the level of management and key functions, and
- to identify and close potential “ESG knowledge” gaps, particularly via appropriate training.
By Emmanuelle Mousel, Partner specialised in Insurance & Reinsurance and Banking & Financial Services & Clara Bourgi, Senior Associate specialised in Banking & Financial Services and Insurance & Reinsurance.
 Article 70 of the amended law of 7 December 2015 on the insurance sector (the 2015 Law).
 Information Note 22/9 of 10 August 2022 regarding regulatory issues linked to sustainable finance.
 Article 72 of the 2015 Law.
 Point 8 of CAA Circular Letter 22/15 of 26 July 2022 on the board of directors of insurance and reinsurance undertakings.
 Point 21 of the CAA Circular Letter 22/15 of 26 July 2022 on the board of directors of insurance and reinsurance undertakings; Points 19 and 20 of the CAA Circular Letter 21/12 of 3 August 2021 on the key functions defined under Solvency II.
 Guideline 11 (point 1.42) of the EIOPA Guidelines on System of Governance, 1 January 2014, EIOPA_BoS_14/253 EN.
 Point 16 (Definitions, Diversity) and Title V (Diversity within the Management body) of the Final report on the Joint ESMA and EBA Guidelines on the assessment of the suitability of members of the management body and key function holders under Directive 2013/36/EU and Directive 2014/65/EU, 2 July 2021, ESMA35-36-2319, EBA/GL/2021/06.
 Point 23 of CAA Circular Letter 22/15 of 26 July 2022 on the board of directors of insurance and reinsurance undertakings.
 ESMA Final Report on draft Regulatory Technical Standards with regard to the content, methodologies and presentation of disclosures pursuant to Article 2a(3), Article 4(6) and (7), Article 8(3), Article 9(5), Article 10(2) and Article 11(4) of Regulation (EU) 2019/2088, 2 February 2021 (JC 2021 03).