ESG challenges in insurance: Reale Seguros

Sustainability & Regulation
16/11/2022 interview
Víctor Ugarte Álvarez Reale Seguros Generales Director Marketing

Victor Ugarte Alvarez, Marketing Director at Reale Seguros, shares his vision on climate risk and decarbonization and how they face these crucial challenges.

What are the biggest risks and challenges facing your organization in managing climate change on the asset (investments) side and liability (policies) side? 

Climate change is considered internally as a risk, given the progressive impact it is having on the entity's loss experience, through the increase in the frequency and intensity of extreme events linked to climate change. Therefore, it is a risk that must continue to be closely monitored by the Company from the liability and asset side. On the other hand, climate change is seen as an opportunity, in the sense that it can allow the Company to offer the experience acquired, due to the sector to which it belongs, through the measurement of its effects and allow it to develop new products adapted to the client's needs and thus contribute to climate change.

In line with what has been described above, our main challenges are adapting to a greater social awareness and new regulations, to continue offering effective coverage that responds to the expectations and needs of our clients and to keep on generating value to our stakeholders.

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