Insurance Europe

As negotiations on the review of the Sustainable Finance Disclosure Regulation (SFDR) progress, Insurance Europe has published updated key messages setting out the insurance industry's priorities for the trilogues.

Insurance Europe supports a simpler, clearer and more predictable SFDR that works for consumers and supports insurers' role as long-term sustainable investors. Insurers manage €9.5 trillion in assets, with a substantial share invested in EU corporate and sovereign bonds, and play an important role in financing Europe's economy and sustainability transition.

Insurance Europe welcomes the important progress already made by the European Commission and co-legislators towards a simpler and more workable framework, including notably greater flexibility for EU general-purpose sovereign debt under the transition category and the Council's clarification of the treatment of multi-option products.

As negotiations progress, further refinements are needed to ensure the final revised SFDR framework delivers the improvements needed to work effectively for consumers and insurers. Insurance Europe calls on policymakers to:

• ensure an appropriate treatment of general-purpose sovereign debt;
• provide a clear and workable regime for multi-option products (MOPs);
• preserve simplification by removing entity-level disclosures and keeping product-level Principal Adverse Impact (PAI) disclosures voluntary; and
• retain flexible transitional arrangements for existing products, while allowing additional contributions from existing clients.

Read our one-page summary and full key messages.