• The 15 largest insurance groups in Europe registered 576 billion euros in premiums in 2016, down 1 percent on the previous year
• Seven groups exceed a 200% solvency ratio
MAPFRE holds fifth place in the 2016 ranking of the top insurance companies in Europe in the Non-Life sector, according to the annual study from MAPFRE Economic Research published by Fundación MAPFRE. Last year MAPFRE was in sixth place behind the German company Talanx, but this year the situation is reversed.
The 15 largest European insurance groups issued 250 billion euros in Non-Life premiums, very close to last year’s total.
The Non-Life segment performed better than the Life segment due to a downturn in Life insurance in mature markets, which was not fully compensated for by the rapid growth of emerging countries, particularly China.
Premium income for the 15 largest European insurance groups fell by 1 percent in 2016 over the previous year, to 576 million euros, due to variations in different exchange rates, particularly the depreciation of sterling and Latin American currencies against the euro.
AXA is still at the top of the ranking with 94,220 million euros in premium volume in 2016, showing 2.7 percent growth.
The aggregate net result of the 15 largest European insurance groups grew 6.4 percent against 2015 results, to a total of 30.12 billion euros.
In terms of solvency margins, July 2017 was the deadline for publishing the first Solvency and Financial Condition Report (SFCR) for European Union groups. This is the first full-year report since Solvency II was implemented, in compliance with the new risk-based prudential regulations in force in the European Union since January 1, 2016. It should be noted that the situation of the groups in the ranking is sound; seven of them have admissible shareholders’ equity of over twice the mandatory solvency capital required for the group.
Analysis of market performance
In historic terms, it can be seen that the Non-Life insurance groups with the lowest business volume (measured in 2006 premiums) are those with the highest cumulative growth rates over the decade, and this is particularly evident in the case of MAPFRE.
You can read the full report here.