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  "documentTitle": "Sustainability Risk Under Solvency II",
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  "authorName": "Oliver Wyman",
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  "notes": "The slide uses donut charts to visualize portfolio composition, regional concentration, and credit quality.",
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      "text": "Since the vast majority of assets of European insurers are typically also from European issuers, the primary exposure is the impact of climate policy on European markets.",
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      "text": "We consider two sample insurers: Classic insurer: No specific ESG investment focus; ESG-oriented insurer: Investment tilted towards positive ESG-characteristics. The tilt is realized by assuming that every issuer is qualifies as ESG leaders for index providers. Apart from the ESG tilt, both carry the same baseline attributions.",
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      "text": "The majority of assets are fixed income (83%). The remaining mainly consists of real estate, equity and funds. For simplicity, we differentiate only by broad regions and not by sector in this case study. Hence, economic impact assessment for scenarios only at regional level as well.",
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      "text": "THE SAMPLE LIFE INSURER UNDER CONSIDERATION HAS ITS PRIMARY EXPOSURE TOWARDS EUROPEAN FIXED INCOME",
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