Strong half-year results for Europe's leading reinsurers

According to Fitch Ratings, the four leading European reinsurers, namely Hannover Re, Munich Re, SCOR and Swiss Re, have reported solid financial results for the first half of 2023.

Profits have progressed considerably as at 30 June 2023, thanks to better pricing on recent renewals, improved general conditions, lower loss experience and higher investment income.

The life insurance business results have regained their pre-pandemic levels following a significant drop in excess mortality linked to Covid-19.

The average return on equity (ROE) of the companies concerned amounted to 21% in the first half of 2023, exceeding their cost of capital.