Premia UK Holdings 2 Ltd

Climate Impact & Sustainability Data (2022)

Potential for additional claims if underlying liability of any of the Groups’ insured is established and deemed covered under policies written by Dominion or Trent.
Potential for the value of investments to become impaired if the issuing counterparty is itself exposed to climate change risk or operates in an industry which will be affected by regulations designed to mitigate climate risk (ie potential “stranded assets”).

Monitoring of potential climate-related financial risks continued during 2022 and was subsumed within a broader approach to ESG (Environment, Social, and Governance) that was developed during the year.
An ESG Framework and ESG Strategy were put in place in 2022 and a number of feasibility studies conducted to further understand the extent and nature of the Company’s risk profile in these areas.
Such feasibility studies have informed a detailed ESG Plan for 2023 which will be implemented during the year.
ESG including climate-change risk has been included in the risk register ensuring on-going review, assessment, and reporting of the risk, the status of its associated controls and metrics to the key stakeholders.
Ownership of ESG – and the financial risks of climate change as part of that – has been assigned to David Roberts, an appropriate SMF (Senior Management Functions) holder.
Climate change related risk has been the subject of regular Board-level engagement during 2022.
Board training on the risks associated with climate change and ESG more broadly took place in 2022.
The Group’s investment policies, including limits placed on investments in specific issuers or industries, mitigate potential exposure to climate change risk.

Frameworks Used: Solvency II