Reflections from IIF 2024 – ESG in Insurance: A Strategic Dialogue on Sustainability in the Insurance Sector

The IIF 2024 – ESG in Insurance Conference, held with the support of IUC, brought together leading professionals and decision-makers from the insurance and financial sectors for a forward-thinking dialogue on one of the industry’s most pressing transformations: ESG integration.

As emphasized throughout the sessions, ESG is far more than a trend — it is a structural shift that is reshaping both the financial system and the real economy. With climate-related and societal risks becoming more interconnected and complex, the role of the insurance sector is pivotal. The industry’s core strength in risk management positions it uniquely to contribute to global sustainability efforts, not just through underwriting practices but also through long-term strategic investments.

The event highlighted how ESG considerations are influencing insurers' approaches across multiple dimensions — from governance frameworks and product development to claims handling and capital allocation. In particular, discussions shed light on the challenges of translating ESG commitments into measurable and enforceable actions, especially in light of increasing regulatory demands and stakeholder expectations.

Given that the insurance sector is Europe’s largest institutional investor, managing over EUR 11 trillion in assets, integrating ESG criteria into investment strategies was a central topic. Participants explored how insurers can balance returns with sustainability goals while navigating evolving regulatory standards and data requirements.

Beyond risk and investment, the conference also examined how technological innovation and new distribution models are intersecting with ESG priorities, potentially unlocking new opportunities for impact.

With its high-level program and practitioner-led agenda, IIF 2024 served as an essential platform for sharing insights, strategies, and best practices. IUC was proud to support this important initiative, which continues to foster meaningful dialogue and collaboration within the industry.