TOWARDS SUSTAINABLE INSURANCE: CHALLENGES, PRACTICES, AND PERSPECTIVES FOR DEVELOPMENT

In the context of the intensification of climatic, social, and economic risks, the insurance sector is increasingly expected to play a strategic role in the transition toward a sustainable development model. This article examines the integration of environmental, social, and governance (ESG) criteria into insurance activities, highlighting their effects on risk management, underwriting policies, investment strategies, and the overall performance of insurers. Through a review of recent literature and an analysis of international practices, the study demonstrates that the adoption of ESG criteria enhances financial resilience, improves governance, and supports product innovation tailored to emerging societal needs. The article also emphasizes persistent challenges, including the complexity of ESG reporting, the risk of greenwashing, and the heterogeneity of regulatory frameworks. Finally, a case study provides concrete evidence of how the structured integration of ESG criteria can generate measurable economic, social, and environmental impacts, thereby confirming that sustainable insurance represents a key driver of long-term value creation.