Our initiatives
Sustainable Insurance Forum
Established by the UN with the support of the International Association of Insurance Supervisors (IAIS) in 2016, the UNDP’s Sustainable Insurance Forum (SIF) is a global network of 40 insurance supervisors and regulators. SIF catalyses international collaboration among insurance supervisors, facilitating knowledge sharing, design and uptake of policy innovations in support of the global insurance sector. SIF looks to ensure effective climate risk management, and other relevant sustainability factors, are effectively integrated into the regulation and supervision of insurance companies.
Flagship initiatives
| Capital frameworks: Incorporating climate-related financial risk considerations into regulatory capital settings is a key driver of the prudent management of climate risks. The consideration of such risks into regulatory capital considerations has been a key focus of the SIF’s work programme in 2022. This work is divided into two related and concurrent streams. |
| Capacity building – Climate Training Alliance (CTA): The CTA is a collaboration between UNDP SIF, the Bank for International Settlements (BIS), the International Association of Insurance Supervisors (IAIS), and the Central Banks and Supervisors Network for Greening the Financial System (NGFS). It aims to enhance the availability of training resources for authorities responding to climate risks, by bringing together authorities at the cutting-edge of climate risk management so they can share their experience with the rest of the central banking and supervisory community. The CTA will make the relevant training on climate-related financial risks more accessible around the world, including emerging markets and developing economies (EMDEs) to support an equitable transition. |
| Nature-related risks: During COP26, SIF published the ‘SIF Scoping Study: Nature-related Risks in the Global Insurance Sector’. This study marks a pioneering effort to explore and understand the global insurance sector’s dependence on nature, what nature-related risks could be, and whether and how nature-related risks are financially material to the sector’s underwriting and investing business. Funded by the Executive Office of the Secretary-General of the United Nations and Sustainable Finance Ireland, this report has been developed into an online training module for use by international regulators and supervisors. |
Governance
SIF is currently chaired by Ms. Fundi Tshazibana (South African Reserve Bank Deputy Governor and Prudential Authority Chief Executive Officer). Since 2016, its leadership has rotated across jurisdictions: California Department of Insurance, Australian Prudential Regulation Authority, Bank of England, Monetary Authority of Singapore. SIF is hosted by the United Nations Development Programme and benefits from a dedicated Secretariat. Members meet twice a year.
Members
As of January 2026, the 40 SIF members are
| ARGENTINA | Superintendencia de Seguros de la Nación (SSN) |
| AUSTRALIA | Australian Prudential Regulation Authority (APRA) |
| BAHAMAS | Insurance Commission of The Bahamas |
| BELGIUM | National Bank of Belgium (NBB) |
| BERMUDA | Bermuda Monetary Authority (BMA) |
| BRAZIL | Superintendência de Seguros Privados (SUSEP) |
| CANADA | Office of the Superintendent of Financial Institutions (OSFI) |
| COSTA RICA | Superintendencia General de Seguros de Costa Rica (SUGESE) |
| EGYPT | Financial Regulatory Authority |
| EUROPE | European Insurance and Occupational Pensions Authority (EIOPA) |
| FINLAND | Finanssivalvonta – Finnish Financial Supervisory Authority (FIN-FSA) |
| FRANCE | Autorité de contrôle prudentiel et de résolution (ACPR) |
| GERMANY | Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) |
| GHANA | National Insurance Commission (NIC) |
| GUERNSEY | Guernsey Financial Services Commission (GFSC) |
| INDONESIA | Otoritas Jasa Keuangan (OJK) |
| IRELAND | Central Bank of Ireland (CBI) |
| ITALY | Istituto per la Vigilanza Sulle Assicurazioni (IVASS) |
| ISLE OF MAN | Isle of Man Financial Services Authority |
| JAPAN | Financial Services Agency (FSA) |
| MOROCCO | L’Autorité de contrôle des assurances et de la prévoyance sociale (ACAPS) |
| NETHERLANDS | De Nederlandsche Bank (DNB) |
| NEW ZEALAND | Reserve Bank of New Zealand (RBNZ) |
| SINGAPORE | Monetary Authority of Singapore (MAS) |
| SOUTH AFRICA | South African Reserve Bank (SARB) |
| SWEDEN | Finansinspektionen (FI) |
| SWITZERLAND | Swiss Financial Market Supervisory Authority (FINMA) |
| UAE - DUBAI | Dubai Financial Services Authority (DFSA) |
| UAE - CENTRAL BANK | Central Bank of the UAE (CBUAE) |
| UNITED KINGDOM | Bank of England (BoE) |
| USA - CALIFORNIA | California Department of Insurance (CDI) |
| USA - CONNECTICUT | Connecticut Insurance Deptartment |
| USA - ILLINOIS | Illinois Department of Insurance |
| USA - MARYLAND | Maryland Insurance Administration (MIA) |
| USA - MASSACHUSETTS | Massachusetts Division of Insurance |
| USA - MINNESOTA | Minnesota Department of Commerce |
| USA - NAIC | National Association of Insurance Commissioners (NAIC) |
| USA - NEW YORK | New York State Department of Financial Services (NYDFS) |
| USA - VERMONT | Department of Financial Regulation |
| USA - WASHINGTON | Washington State Office of the Insurance Commissioner (OIC) |
Contact us
We welcome questions and proposals for collaboration from supervisors, industry experts, and international partners. Reach out to SIF secretariat here.
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