image credit: Adobe Stock

Europe’s big four see P&C reinsurance underwriting performance deteriorate: Moody’s

August 26, 2022

Europe’s big four average net combined ratio from property and casualty (P&C) reinsurance deteriorated to 98.9% from 95.5% a year earlier, with only Munich Re reporting a stronger P&C combined ratio, says Moody’s.

The report suggests that the group’s weaker P&C underwriting performance partly reflects several small to mid-sized natural catastrophe events during the first half of the year.

This includes storm Zeynep in Europe during February, rain and floods in Australia from February to march, floods in South Africa in April, and hailstorms in France throughout June.

Read More on Reinsurance News