Sam Burgess

Our analysis covering Europe and the UK dives into life insurer SFCRs for year-end 2023, including key financial information from the quantitative reporting templates.

Our 2024 annual summary of Solvency II-based metrics details last year’s results and gives insight on key themes in reporting.

Globally, 80 life and health insurance mergers and acquisitions were announced in 2023, down from 131 in 2022. However, total publicly announced deal values rose from US$20.4 billion in 2022 to US$21.5 billion in 2023.

This report summarises the annual research performed by Milliman which looks at Solvency II based metrics for a sample of over 20 firms in Europe based on disclosures at year-end 2022.

U.K. life insurers disclosed healthy results in the year-end 2022 SFCRs, while those in Europe reported an overall increase in the level of SCR coverage ratio.

In 2022, life and health insurance transaction activity was down sharply. Our research points to the likely causes and projects the landscape for future mergers and acquisitions.

We consider what key themes can be drawn from how European insurers have reported their performance over 2021 in a post-COVID environment.

Our analysis covering Europe and the U.K. dives into SFCRs from year-end 2021, including key financial information contained in the reports’ QRTs.

We consider the impact of the pandemic to firms’ supplementary reporting metrics, and their level of Solvency II Own Funds and solvency positions.

Average SCR coverage ratio was 223% at year-end 2020, down from 232% in 2019, but the European life insurance market remains well capitalised.