European insurers : the moment before the moment

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<title>European insurers</title>
<subTitle>: the moment before the moment</subTitle>
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<namePart>A.M. Best Company</namePart>
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<dateIssued>2020</dateIssued>
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<abstract displayLabel="Summary">AM Best's ranking of the 30 largest European insurers based on 2019 gross written premium (GWP) presents the picture as it stood before the onset of the COVID-19 pandemic and the subsequent financial market volaility and accompanying economic downturn that followed in its wake. The pandemic will also afffect the profitability of non-life insurers in 2020, with the impact greatly depending on the lines of business written. Insurers for which motor business dominate will see a positive effect on technical performance due to lower claims frequency during the periods of lockdown and semi-lockdown that took place in most European countries throughout 2020. On the other hand, commercial lines insurers are likely to see a hit to underwriting profitability, in particular from non-property damage business interruption claims in some European countries. While the final outcome of COVID-19 lockdown-related claims is still highly uncertain, the severity is expected to be manageable.</abstract>
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<title>Best's Market Segment Report</title>
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