This latest report from the Forum for Insurance Transition (FIT) is the first integrated “total balance sheet” transition plan guide for insurers, reinsurers and brokers.

“A Total Balance Sheet Transition” provides insurance market participants with a comprehensive and practical framework to develop and disclose credible, organisation-wide transition plans that fully link underwriting and investment portfolios. It fills a major gap in existing guidance by defining the essential components of a credible plan and offering clear criteria, frameworks and real-world examples to help insurers strengthen resilience, manage risks and capture opportunities in the net-zero transition.

The report sets out six Total Balance Sheet (TBS) Principles—from unified strategic ambition to coordinated engagement, holistic metrics and integrated governance—that support alignment across the balance sheet while maintaining financial resilience. It explains how insurers can apply a proportionate and pragmatic approach that reflects different business models, geographies, liability profiles and data maturity, and highlights how underwriting and investment levers together can advance interconnected sustainability priorities, including resilience, the just transition, nature and biodiversity, and circularity.

The guidance builds on FIT’s earlier reports—Closing the Gap (COP29, November 2024) and Underwriting the Transition (July 2025). Together, these three deliverables form the most comprehensive roadmap to date for credible, insurance-specific transition planning.

Launched at the COP30 Global Sustainable Insurance Summit in Belém, Brazil, this report is the third and final deliverable of the FIT Transition Plan Project. It marks an important milestone in advancing the insurance industry’s leadership in supporting a just transition to a resilient and inclusive economy.