Over €1trn of EU insurer assets subject to climate risks
Housing exposures make up bulk of those vulnerable to climate change
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
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