NEWS | For Immediate Release
LONDON, May 18, 2021 – Italian insurance group Unipol Gruppo has selected the Moody’s Analytics Climate Pathway Scenario Service to facilitate its efforts to embed climate risk into its Own Risk and Solvency Assessment (ORSA). Moody’s Analytics will provide Unipol Gruppo with climate-aligned scenarios for a range of temperature pathways to help the group assess transition risk exposure.
Climate change is creating new demands on insurers to understand the financial impact from climate risk to their business. The Moody’s Analytics Climate Pathway Scenario Service helps power insurers’ and pension funds’ asset and liability projections by providing climate-aligned scenarios that capture physical and transitional risks from climate change.
“Integration of environmental, social and governance (ESG) factors into our corporate strategies and processes is a key aspect of Unipol’s approach to business, and the Climate Pathway Scenario Service will enable us to manage growing climate risks and advance our risk management practices in this area,” said Gian Luca De Marchi, Chief Risk Officer at Unipol Gruppo.
The Moody’s Analytics Climate Pathway Scenario Service, built on our award-winning scenario generation software, can translate climate pathways into an insurer’s financial risk variables to help them assess their climate-related risks and anticipate the future impact of climate change on asset and liability projections. Climate pathways can be specific to the Network for Greening the Financial System criteria, Moody’s Analytics economic climate assumptions, or the client’s own input. The service can also be used with the AXIS™ actuarial system.
“To effectively manage climate risk, insurers must fully understand their risk profile and vulnerability to climate change. Our expertise in scenario analysis and climate science helps insurers measure their exposure to both the physical and transitional risks,” said Nick Jessop, Senior Director and Head of Scenario Modeling Research at Moody’s Analytics. “We look forward to working with Unipol Gruppo as it incorporates the Moody’s Analytics Climate Pathway Scenario Service into its wider climate risk management framework.”
Learn more about the Moody’s Analytics Climate Pathway Scenario Service and Moody’s Climate Solutions.
About Moody’s Analytics
Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody’s Analytics, visit our website or connect with us on Twitter or LinkedIn.
Moody's Analytics, Inc. is a subsidiary of Moody's Corporation (NYSE: MCO). Moody’s Corporation reported revenue of $5.4 billion in 2020, employs approximately 11,500 people worldwide and maintains a presence in more than 40 countries.
About Unipol Gruppo
Unipol Gruppo is the first non-life insurance group in Italy with € 7,9 billion written premiums in 2020, a leader in motor vehicles and health insurance, and a leading insurer in motor vehicles black-boxes distribution, with a market share of 50% in Italy. Unipol Gruppo is among the key players in the Italian life insurance market with written premiums of € 4,3 billion in 2020; and a leader in insurance occupational pension funds in Italy, with € 4,9 billion AUM.