Nick Spencer

In the wake of the PRA’s Consultation Paper 10/25, which aims at enhancing the management of climate risks, we cover its proposals and insurance-specific issues.

With the requirement to enhance approaches to managing climate-related risks, we highlight key issues and implications for insurance CROs.

In April, the United Kingdom’s Prudential Regulation Authority (PRA) launched ‘CP10/25’, its consultation paper on managing climate-related risks, which will update the supervisory statement 3/19 (SS3/19).

Our prototype climate mortality model explores on a high level the interactions of various climate and socio-economic factors on excess mortality.

We discuss four steps UK health insurers need to take to understand what is ‘fair’ and integrate that into business practices.

We review 10 items on the sustainability agenda for UK life and health insurers in 2025.

We offer some key insights on critical themes in sustainability and climate risk management highlighted at a recent Milliman event.

Insurers need to consider the range of potential climate impacts on mortality and morbidity liabilities, and avoid thinking they’ll amount to a net-zero outcome.

Our recent Sustainability Financial Services Forum found that published climate scenarios often fail to capture the full spectrum of complexities.

In this article for the UK’s The Actuary magazine, we explore the relationship between climate change and inflation modelling.