The ACPR published the results of its second climate stress test, the first one to be dedicated solely to insurance undertakings. The ACPR commends the involvement of the industry (15 insurance groups), which made it possible to cover almost 90% of total activity in this exercise carried out on a voluntary basis. The results show that insurers are significantly exposed, which has consequences both on their balance sheet and for policyholders (rising prices in some areas and insurance gap risk). The ACPR takes note of progress made since the first edition, and encourages insurers to keep up their efforts towards the swift and forward-looking integration of climate risk in their strategy, governance and internal models.