The European Insurance and Occupational Pensions Authority has launched a consultation on proposed changes to insurers' corporate disclosures under the European Union Taxonomy framework for environmentally sustainable activities. The draft would simplify reporting, increase transparency and align insurance Taxonomy disclosures more closely with other sustainable finance frameworks and with requirements applied to other financial institutions. The main insurance-specific proposal would revise the current underwriting KPI for (re)insurers by narrowing the denominator in the Taxonomy and Eligibility ratios to Taxonomy-eligible lines of business only and renaming the metric the Adaptation Underwriting KPI. EIOPA also proposes to standardize the numerator of the Eligibility ratio by requiring a split of premiums that cover only natural catastrophe perils and by including only contracts with that coverage. The paper also explores a new Green Insured Activities KPI covering policies sold to companies that report under the Taxonomy Regulation, as well as retail housing and transport policies, to measure the share of Taxonomy-aligned insured activities using an approach intended to mirror look-through disclosures in banking and investments. Further changes would remove template disclosures on the breakdown of gas and nuclear activities, give Taxonomy disclosures more prominence in annual reports and, together with the European Banking Authority and the European Securities and Markets Authority, streamline group reporting by focusing on the parent company's main business instead of weighted averages across segments and by not introducing voluntary reporting on investment Taxonomy alignment based on Operational Expenditure. The consultation follows a March 2026 request from the European Commission for technical advice on simplifying and improving the Disclosures Delegated Act under the Taxonomy Regulation. Feedback is due by 12 August 2026, and a public hearing is scheduled for 16 July 2026.
European Insurance and Occupational Pensions Authority2026-07-01
European Insurance and Occupational Pensions Authority launches consultation on insurer EU Taxonomy disclosure changes and new green insured activities KPI
The European Insurance and Occupational Pensions Authority is consulting on changes to insurers' European Union Taxonomy disclosures aimed at simplifying reporting and improving alignment with other sustainable finance frameworks. The proposals would revise and rename the underwriting KPI, standardize the Eligibility ratio, introduce a possible Green Insured Activities KPI and simplify templates and group reporting. Comments are due by 12 August 2026.