The world’s natural capital has been declining globally at rates unprecedented in human history. The global insurance 
sector is beginning to take a wider view of nature-related risks,1 expanding beyond climate and natural hazard risks. In 
2020, the SIF members agreed to build on existing work by exploring how losses in nature can translate into financial risks 
for the insurance sector. The SIF Secretariat has produced this report with input from SIF members, experts and industry 
participants to support insurance supervisors and insurance companies in better understanding and responding to these 
risks