[{"data":1,"prerenderedAt":75},["ShallowReactive",2],{"activity-en-10.2":3,"sector-for-en-10.2":48},{"id":4,"title":5,"activityCode":6,"activityType":7,"body":8,"description":34,"dnsh":35,"extension":36,"meta":37,"naceCodes":38,"navigation":40,"path":41,"sector":42,"seo":43,"stem":44,"substantialContribution":45,"__hash__":47},"activities_en\u002Fen\u002Fsectors\u002Ffinancial-and-insurance\u002Factivities\u002F10-2-reinsurance.md","Reinsurance","10.2","standard",{"type":9,"value":10,"toc":29},"minimark",[11,16,20,23,26],[12,13,15],"h2",{"id":14},"substantial-contribution-to-climate-change-adaptation","Substantial Contribution to Climate Change Adaptation",[17,18,19],"p",{},"The reinsurance activity must provide coverage for climate-related natural catastrophe risks (flood, storm, wildfire, drought, hail, sea level rise) and contribute to maintaining the insurability of these risks as climate change increases their frequency and severity. The reinsurer must demonstrate its contribution to adaptation through the following criteria.",[17,21,22],{},"The reinsurer must use forward-looking catastrophe models that incorporate climate change projections consistent with IPCC AR6 scenarios, going beyond historical loss data to account for non-stationary risk trends. Model assumptions regarding climate-driven changes in hazard frequency and intensity must be transparent and regularly updated as new climate science becomes available.",[17,24,25],{},"The reinsurer must actively support the development of insurance market capacity for climate perils in underserved regions or for emerging climate risks. This includes providing technical assistance to primary insurers for climate risk assessment, developing innovative risk transfer products (parametric insurance, resilience bonds), or participating in public-private partnerships for climate risk sharing.",[17,27,28],{},"The reinsurer must report annually on its climate risk exposure, including gross and net exposures to climate-related perils, trends in climate-driven losses, and its role in supporting adaptation through product innovation and risk reduction advisory services provided to cedants.",{"title":30,"searchDepth":31,"depth":31,"links":32},"",2,[33],{"id":14,"depth":31,"text":15},"Reinsurance activities that support the insurability of climate-related risks and promote systemic climate adaptation across insurance markets.",[],"md",{},[39],"K65.20",true,"\u002Fen\u002Fsectors\u002Ffinancial-and-insurance\u002Factivities\u002F10-2-reinsurance","financial-and-insurance",{"title":5,"description":34},"en\u002Fsectors\u002Ffinancial-and-insurance\u002Factivities\u002F10-2-reinsurance",[46],"cca","OTmmjuVTsJ8ip1rgE7xl_JBsuLeQNto3GBQKtIU8QTA",{"id":49,"title":50,"activityCount":51,"body":52,"description":65,"extension":36,"icon":66,"meta":67,"naceCodeRange":68,"navigation":40,"objectives":69,"path":70,"sectorNumber":71,"seo":72,"stem":73,"__hash__":74},"sectors_en\u002Fen\u002Fsectors\u002Ffinancial-and-insurance.md","Financial & Insurance",3,{"type":9,"value":53,"toc":63},[54,57,60],[17,55,56],{},"The financial and insurance sector occupies a distinctive position in the EU Taxonomy as a capital allocation mechanism. Rather than generating direct emissions, financial activities determine where investment flows -- making them powerful levers for accelerating the green transition.",[17,58,59],{},"Activities include non-life insurance and reinsurance for climate-related perils, lending for climate adaptation projects, and portfolio management that integrates Taxonomy criteria into investment decisions. The focus on climate change adaptation reflects the insurance industry's frontline role in pricing and managing physical climate risks.",[17,61,62],{},"Technical screening criteria for this sector emphasise the systemic importance of financial risk management. Insurers must demonstrate that their underwriting practices incentivise adaptation measures among policyholders. Lenders must apply Taxonomy-aligned criteria to their lending books, ensuring that financed activities meet the relevant technical thresholds. The sector's alignment is measured through metrics such as the Green Asset Ratio (GAR) for banks and the proportion of Taxonomy-aligned premiums for insurers.",{"title":30,"searchDepth":31,"depth":31,"links":64},[],"Insurance, reinsurance, and lending activities that channel capital toward climate-resilient and sustainable outcomes.","lucide:landmark",{},"K64-K66",[46],"\u002Fen\u002Fsectors\u002Ffinancial-and-insurance",10,{"title":50,"description":65},"en\u002Fsectors\u002Ffinancial-and-insurance","SyD-AufUMKDQ9WlZwq22IaSUbnky7dr87PMJXwKB5N0",1775591372943]