Regulatory Alerts2022-06-09
Added · Updated
Circular on Commission Delegated Regulation (EU) 2021/1256 amending Delegated Regulation (EU) 2015/35 as regards the Integration of Sustainability Risks in the Governance of Insurance and Reinsurance Undertakings
Commission Delegated Regulation (EU) 2021/1256 amends Delegated Regulation (EU) 2015/35 by introducing definitions for sustainability risks, sustainability factors, and sustainability preferences, and by requiring insurance and reinsurance undertakings to integrate these risks into their governance, risk management, and remuneration policies. The amendments mandate updates to underwriting, reserving, investment risk management, and actuarial functions to reflect sustainability considerations, and require undertakings to align investment processes with customer sustainability preferences. These changes enter into force on 2 August 2022, requiring undertakings to update and approve their policies by the Board of Directors and make them available to the MFSA upon request.
More like this from MFSA
MFSA published 9 documents in the last 30 days. We email you each new one the day it's published.