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 proposals are intended to increase transparency, simplify reporting and align insurers’ Taxonomy disclosures more closely with other sustainable finance frameworks and with requirements applied to other financial institutions. A central proposal is to revise the current underwriting key performance indicator for insurers and reinsurers by limiting the denominator in the Taxonomy and Eligibility ratios to Taxonomy-eligible lines of business only and renaming it the Adaptation Underwriting KPI. EIOPA also proposes to standardise the numerator of the Eligibility ratio by requiring a split of premiums covering only natural catastrophe perils and by including only contracts with that coverage. In addition, the paper explores a new Green Insured Activities KPI measuring the ratio of Taxonomy-aligned insured activities, covering policies sold to companies reporting under the Taxonomy Regulation as well as retail housing and transport policies. Other proposed changes include removing template disclosures on the breakdown of gas and nuclear activities, giving Taxonomy disclosures greater prominence in annual reports, and, together with the European Banking Authority and the European Securities and Markets Authority, streamlining group reporting to focus on the parent company’s main business instead of weighted averages across all business segments. The joint proposals also exclude introducing voluntary reporting on the Taxonomy alignment of investments based on operational expenditure. The consultation responds to 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 invited until 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 EU Taxonomy insurance 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, including revisions to the underwriting KPI and a possible new Green Insured Activities KPI. The proposals also simplify templates, remove some gas and nuclear breakdown disclosures and streamline group reporting with the other European Supervisory Authorities. Responses are due by 12 August 2026.