Climate Change Litigation: Insights into the evolving global landscape
As evidence of climate change mounts and the world transitions to net zero, climate liability risks are evolving, too, with climate-related litigation cases increasing in number and ex
Addressing Obstacles to Life Insurance Demand
The relevance of life insurance in many mature markets has experienced an unambiguous decline in recent decades. It is a worrying trend for society at large, given its historical contributions to funding for retirement and mitigating biometric risks.
Based on the recent Geneva Association Customer Survey, this report sheds light on the drivers behind declining levels of life insurance penetration, such as ultra-loose monetary policies, behavioural patterns and perceived product shortcomings.
Joint GA/IIF response to the IAIS consultation on overall ComFrame
The Geneva Association and the Institute of International Finance urge the IAIS to address the disconnect between the Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame) and the Insurance Capital Standard.
Joint GA/IIF response to the IAIS consultation on Global Insurance Capital Standard Version 2.0
The Geneva Association and the Institute of International Finance express strong concerns that the design and calibration of the ICS will impact negatively on the possibility of insurers to continue to provide certain long-term products and product features in some jurisdictions.
Climate Change and the Insurance Industry: Taking action as risk managers and investors
This report offers new insights into the role of the insurance industry in addressing the climate change adaptation and mitigation goals. It highlights the insurance industry’s value proposition and efforts to build financial resilience to climate risks and to support the transitioning to a low-carbon economy. It proposes key recommendations for multiple stakeholders.
Issue Brief 2: Protracted low interest rates may place the life insurance industry's socio-economic role at risk
Life insurers assume risks that are more effectively borne by institutions than by individuals. Longevity and mortality risks provide diversification benefits when grouped together and they are much more predictable when pooled by insurers across large numbers. As institutional investors, life insurers play a key role in funding the real economy and the public sector. And like any other business, life insurance provides jobs for employees.
Issue Brief 1: How the life insurance industry is tackling a 'manageable headwind'
The role of life insurance in helping individuals achieve peace of mind and financial security is significant. In a low interest rate environment, insurers have an even bigger role to play as individuals may struggle to find investments with appropriate returns. Life insurance can provide investment performance in combination with a secure insurance guarantee and a death benefit for beneficiaries. However, the industry is not immune to low interest rates.
