A practical guide developed by Zenith Actuarial to support Maltese insurers
We have developed this guide to support Maltese insurers in integrating climate-related risks into their Own Risk and Solvency Assessments (ORSA), as required under Solvency II. Recognising Malta’s unique vulnerabilities as a small island nation, the paper presents seven plausible climate scenarios -ranging from deadly heatwaves and rising sea levels to disease migration and new pandemics. Each scenario is grounded in scientific data and tailored to the Maltese insurance market, offering structured narratives, risk exposures, and business implications across life, health, and non-life insurance sectors.
The paper aims to stimulate internal dialogue, enhance regulatory compliance, and strengthen insurers’ resilience to climate change. It provides a flexible framework for scenario analysis, encouraging insurers to adapt the content to their own business models and exposures. Drawing on local and international data sources, the paper balances rigour with accessibility, making it a valuable tool for actuaries, risk managers, and decision-makers. As climate science and regulation evolve, this document is intended to evolve with them - serving as both a foundation and a catalyst for ongoing industry engagement with climate risk.
Climate Change Scenarios Guide
For more information or to discuss with our team, please contact us on enquiries@zenithactuarial.com
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