The insurance risk transfer market is no different in that sense, but has, compared to some other industries, sustainability at its very center. Providing financial relief after a natural catastrophe for people affected is only one example. Clearly, market participants have different definitions of sustainability in their mind: While some players interpret sustainability in a very narrow sense, others do so in a holistic manner.
The topic of sustainability is clearly not new, but it has recently gained in importance in the insurance risk transfer market, not least because of a generational and mindset shift. This shift has also triggered the development of a number of international goals and initiatives. In
Europe, this has translated to a range of new legislations that will soon come into force with a focus on Environmental, Social and Governance (ESG). ESG is more recent and a subset of sustainability, but the one that receives most attention at the moment. The remainder of this
article will therefore focus on ESG.
