Over €1trn of EU insurer assets subject to climate risks

More than 10% of assets held by European Union insurers are exposed to climate change-related risks, a report by European regulators says.

The European Insurance and Occupational Pensions Authority (Eiopa) analysed insurer assets as of Q1 2018, and found that almost 13%, around €1.35 trillion ($1.5 trillion), would be at risk if the economy were to transition to a carbon-neutral state.

Housing-related assets made up the bulk of these exposures, with 55% of the total, around €741 billion.