Climate Risk and Sustainable Finance in Europe:
The Role of Insurance
Speakers and Panelists:
Dr. Manuela Zweimüller, Head of the Policy Department, EIOPA
Dr. Christian Thimann, Chairman of the Management Board, Athora, Athene Deutschland Holding GmbH & Co. KG
Ernst Rauch, Global Head Climate & Public Sector Business Development, Chief Climate and Geo Scientist, Munich Reinsurance Company
Moderation: Prof. Dr. Helmut Gründl, Chair of Insurance and Regulation, Goethe University and ICIR
This panel will discuss the role of insurance and its potential contribution for the financial stability and the sustainable development in Europe. It is specifically about outlining the impact of climate change-related risks on the insurance sector and whether these risks are adequately assessed in the supervisory reviews. On the other hand, it is about highlighting the importance of the insurance sector to manage and mitigate these climate-related risks. A key consideration is how the investment portfolio of the insurance sector can be mobilized to finance the transition towards sustainability through a stronger equity financing, infrastructure financing and other long-term investments. This development requires a discussion how the Solvency II regulatory framework could be adapted to facilitate the long-term investments that might need lower capital requirements in order to finance the ambitious sustainability goals of the EU.