The results of the Bank of England’s (BoE) Climate Biennial Exploratory Scenario (CBES) exercise will be published on 24 May, insurers have learned.
The CBES explores the financial risks posed by climate change for the largest UK insurers and banks.
The first phase of the CBES was launched in June 2021 that assessed exposures across three scenarios – ‘early action’ beginning in 2021, ‘delayed action’ beginning in 2031, and ‘no additional action’ beyond measures already in place in 2021.
A total of 10 insurers and 10 Lloyd’s managing agents participated.