The European Insurance and Occupational Pensions Authority (EIOPA) has launched a consultation on proposed changes to insurance corporate disclosures under the EU Taxonomy framework for environmentally sustainable activities. EIOPA’s draft proposals aim to increase transparency, simplify reporting, and better align insurers’ Taxonomy-related reporting requirements with other sustainable finance frameworks as well as with requirements applicable to other financial institutions.
Among the key amendments in the Consultation Paper, EIOPA suggests revising 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 KPI to ‘Adaptation Underwriting KPI’. These changes aim to improve the accuracy of disclosures and provide clearer insights into insurers' contributions to environmental sustainability. Regarding the Eligibility ratio, EIOPA proposes to standardise how eligible activities are calculated in the numerator, namely by requiring a split of premiums that cover only natural catastrophe perils and by only including contracts with such coverage.
The consultation paper explores the potential introduction of a new ‘Green Insured Activities KPI’ to measure the ratio of Taxonomy-aligned insured activities. The ’Green Insured Activities KPI’ would cover all policies sold to companies that report under the Taxonomy Regulation, as well as retail insurance policies for housing and transport. This KPI would show the amount of green insured business and ensure consistency with the look-through approach used in banking and investments for disclosures.
Furthermore, EIOPA suggests simplifying reporting templates by removing disclosures on the breakdown of gas and nuclear activities and give more prominence to Taxonomy disclosures within insurance undertakings’ annual reports.
Finally, together with EBA and ESMA, EIOPA proposes streamlining group reporting to focus on the parent company’s ‘main business’ rather than reporting weighted averages for all business segments and not introducing a voluntary reporting on the Taxonomy-alignment of investments based on Operational Expenditure.
Consultation Process
EIOPA invites stakeholders to provide their feedback on the Consultation Paper by responding to the questions via the online survey no later than 12 August 2026. All responses will be published on EIOPA’s website unless otherwise requested.
A public hearing on the Consultation Paper will take place on 16 July from 09.00 to 12.30. Registrations are open here.
Notes
In March 2026, the European Supervisory Authorities (ESAs) received a request from the European Commission for technical advice on simplifying and improving the Disclosures Delegated Act (DDA) under the Taxonomy Regulation. The consultation launched today comes in response to this request.
The ESAs are requested to address specific issues within their remit, as well as horizontal topics of common interest on which they have coordinated their respective proposals.
The corresponding consultation papers by the European Banking Authority and the European Securities and Markets Authority can be accessed here and here, respectively.
Details
- Publication date
- 1 July 2026