9th May 2021

S&P Global latest EMEA Insurance Monitor says the market will continue stabilizing In 2021
Trend

S&P Global Ratings said this week that the EMEA insurance market is normalising in 2021, following a volatile 2020.
"We expect economic recovery will improve insurance companies' toplines over 2021," said S&P Global Ratings credit analyst Mark Nicholson in the report "EMEA Insurance Monitor: May 2021".
That said, we note the differing pace of recovery among European regions, which is partly due to the varying success of vaccination and testing.
The recovery of the bond and equity markets helped restore much of the capital surplus that European insurers lost in 2020. Full-year 2020 results also showed limited asset impairments, and we expect this risk to reduce further in 2021.
Looking at the breakdown of the outlooks, 82% were stable, 12% negative, 4% positive and 2% were on CreditWatch. Although there remains a high proportion of stable outlooks, there has been a marginal decline, from 87% as of April 2020.

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