IVASS – Analysis of IBIPs policies with ESG characteristics

On March 14th, IVASS (Institute for the Supervision of Insurance) published the results of the survey carried out on IBIP policies with ESG characteristics.

Throughout 2023, the Authority acquired information from 18 insurance companies operating in the Italian market and providing policies with ESG characteristics. In particular, IVASS requested companies to give information on: (i) names and SFDR classification of policies in their portfolio with ESG characteristics; (ii) the methods on how to select investments; (iii) information aimed at understanding customer sustainability preferences, and the policy’s compliance with such preferences.

From the information gathered by IVASS emerged that the offer of policies with ESG characteristics in the Italian market is quite extensive – 106 policies can be classified as “sustainable” – most of them are multi-branch products, which represent almost 50%, followed by unit-linked policies (29%) and re-valuable policies (25%).

As a result of the survey, IVASS concluded that companies have effectively integrated ESG characteristics into their insurance products.