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Norma de Carácter General No 408

General Regulation No. 408

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Summary

Norma de Carácter General No. 408 was issued by the Superintendence of Securities and Insurance of Chile in 2016. It establishes guidelines for insurance companies in Chile to identify, assess, manage, and report risks associated with environmental, social, and governance factors. The focus is on promoting responsible investment practices and considering the impact of such factors on the insurance company's investments. The norm also requires insurance companies to disclose their environmental, social, and governance policies and practices in their annual reports. This norm creates an obligation for insurance companies to incorporate environmental, social, and governance considerations into their investment decisions and to disclose their policies and practices in this regard.

Thumbnail image for Norma de Carácter General No. 408 was issued by the Superintendence of Securities and Insurance of Chile in 2016. It establishes guidelines for insurance companies in Chile to identify, assess, manage, and report risks associated with environmental, social, and governance factors. The focus is on promoting responsible investment practices and considering the impact of such factors on the insurance company's investments. The norm also requires insurance companies to disclose their environmental, social, and governance policies and practices in their annual reports. This norm creates an obligation for insurance companies to incorporate environmental, social, and governance considerations into their investment decisions and to disclose their policies and practices in this regard.
Issuer

Chile

Year

2016

Region

South America

Issuer (type)

Securities and Insurance Superintendency (Superintendencia Valores y Seguros) (Financial Regulator)

Policy Type

Disclosure

Geographical scope

National

Mandatory or voluntary

Mandatory


Main industries targeted
  • Finance & Insurance
  • Transportation & Warehousing
Restrictiveness

Very Low

Sustainable Development Goals (SDGs)
  • SDG 5: Gender Equality
  • SDG 6: Clean Water and Sanitation
  • SDG 14: Life Below Water

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