11/24/2021 | Press release | Distributed by Public on 11/24/2021 07:19
NOVEMBER 24, 2021 08:08 AM (EST)
Best's Market Segment Report: European Insurers' Earnings Down but Regulatory Solvency Ratios Remain Strong
+31 20 308 5427
Director, Industry Research - EMEA
+44 20 7397 0322
FOR IMMEDIATE RELEASE
LONDON - NOVEMBER 24, 2021 08:08 AM (EST)
AM Best's annual ranking of the largest European insurers shows that while the Top 10 remained unchanged from the previous year, nearly every company changed position further down the ranking. Also notable was the appearance of three newcomers, two of which are domiciled in the Netherlands.
The new Best's Market Segment Report, "European Insurers - Earnings Down But Regulatory Solvency Ratios Remain Strong," notes that COVID-19-related losses had a negative impact on earnings, with overall profit after tax significantly lower. However, insurers have continued to benefit from strong Solvency Capital Requirement ratios, with more than half above 200%.
The three newcomers to the ranking - ASR and NN Group (both domiciled in the Netherlands) and Bâloise (Switzerland) - were just outside last year's ranking and moved up because of their acquisition activity and organic growth in their gross written premium.
To access a complimentary copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=315013 .
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.