AMSTERDAM--(BUSINESS WIRE)--Mergers, divestments and fluctuations in foreign exchange brought more volatility to the ranking of Europe's 30 largest insurers. While the order of the top 10 remained unchanged in AM Best’s latest assessment, there was more movement further down the table than is usually the case. Two companies also broke into the top 30 for the first time.
In a new Best’s Market Segment Report, “Higher Profits for Many European Insurers as COVID-19-related Losses Not Repeated,” AM Best also notes that earnings improved overall, and a number of players saw materially higher profit after tax as the adverse effect from COVID-19-related losses on profits in the previous year was not repeated.
The European insurers in AM Best’s ranking also continued to benefit from strong regulatory solvency ratios. Of the groups for which Solvency II ratios are available, three quarters of them have ratios above 200%.
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