This report gives an overview of the detected changes in the oceans and their impact on extreme events and hazard probabilities over the last decades. It summarises the changes in risk management strategies that (re)insurance companies can implement in order to address the new situation appropriately, comply with regulatory requirements and ultimately improve their ratings.

Four leading insurance climate change initiatives, whose combined membership includes more than a hundred of the world's leading insurers across Africa, Asia, Europe, North and South America, and Oceania, have combined their members' expertise to present this Statement.