Actuarial Notes

Managing Environmental, Social and Governance Risks in Life & Health Insurance Business

By UN Environment Programme's Principles for Sustainable Insurance Initiative · United Nations Environment Programme Finance Initiative · 2022 · CFE101-108-25

Study guide: Exam CFE-101

The PSI ESG Underwriting Guide for Life & Health Insurance (Version 1.0), published in June 2022 by UNEP FI's Principles for Sustainable Insurance Initiative and co-sponsored and co-led by HSBC Life. It is described on its cover as the first ESG guide for the global life & health insurance industry, and it focuses on the underwriting portfolios of life & health insurers.

On the syllabus

  • Exam CFE-101 — CFE101-108-25: Managing Environmental, Social and Governance Risks in Life & Health Insurance Business; outcomes 1.3a, 2.1a, 2.2h.

Acknowledgements

Executive summary

  • The first-ever ESG guide for the global life & health insurance industry
  • Life & health ESG risk heat map

1 Developing the guide

2 Aims and scope of the guide

3 Life & health ESG risk heat map

4 Possible actions to manage ESG risks during the underwriting process

  • 4.1 Establishing an ESG risk appetite
  • 4.2 Integrating ESG risks
  • 4.3 Establishing roles and responsibilities for ESG risks
  • 4.4 Escalating ESG risks
  • 4.5 Detecting and analysing ESG risks
  • 4.6 Decision-making on ESG risks
  • 4.7 Reporting on ESG risks

5 Appendix

  • 5.1 The Principles for Sustainable Insurance

Sources