Moody’s Analytics recently conducted one to one interviews and a survey of 30 insurers from Europe and North America, with some response from Asia and Australia. The aim of the survey was to determine the current level of climate integration into their risk management and reporting processes. We also wanted to learn more about insurers plans in this area. Our respondents came from a range of insurance businesses including Life, Health, P&C, Reinsurance, and other related financial institutions.
This report shares our learnings from the survey, covering current insurance market trends in developing climate capabilities, adopting climate scenarios, and addressing data gaps. We also share the insights and feedback from recent one-to-one discussions with insurers on the same topic. The report complements the findings from our survey published in September 2022 ’Life Insurers: Climate Risk Modelling and Risk Assessment Process’1.