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Heatwave-related claims could pressure European insurers’ earnings, S&P warns

Reported · Written up by our desk · Industry & Deals

S&P warns that Europe’s increasingly intense heatwaves may weigh on insurers’ earnings as heat-related deaths and worsening health conditions drive higher claims, particularly for older people, according to Guardian Business.

The rating agency also links the risk to the broader damage from extreme summer heat, including more claims tied to drought and wildfires, as insurers may face rising costs and financial pressure.

As insurers respond to higher claim volumes, the potential impact runs through pricing and underwriting outcomes in affected markets, S&P’s assessment implies, the outlet reports.

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