Combined insurance ratios in Europe 2018, by country

The combined ratio, which is the sum of claims and expenses incurred divided by premiums earned is a measure of profitability used by insurance companies to see how efficiently they are running their business. The combined ratio can be displayed as a measure of 1 or as a percentage of 100. Insurance markets with a ratio of over 1 means that companies are paying out more in claims than they are receiving through premiums earned.

Combined ratios

The United Kingdom (UK), which is Europe's largest insurance market in terms of gross written premiums, was the only country that saw combined ratios of above one in both life and non-life insurance categories. France and Germany, which make up the remainder of the three largest insurance markets in Europe, saw combined ratios just below one.

SCR Ratio and MCR Ratio

As of the end of 2018, the German insurance industry had Solvency Capital Requirement (SCR) ratio of 352 percent. The United Kingdom (UK), had a SCR ratio half of that of the German insurance sector. In addition to the SCR ratio, insurers must also calculate minimum capital requirement (MCR). The MRC is essentially a tipping point in which, if an insurer falls below, the authorization of an insurer could be withdrawn.

Combined ratios for life and non-life insurance in Europe in 2018, by country

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Supplementary notes

As defined by the source "The Combined Ratio is defined as the sum of claims and expenses divided by premiums earned."

Combined ratios for life insurance were calculated by Statista.
Sample includes insurers with financial year end within the calendar year. Exchange rate conversions to EUR using ECB exchange rates as of reference date.

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