A sample of the capital ratios of over 200 European insurance groups published for the year end 2025, point to more solvency ratios rising than falling.

Data from Solvency II Wire Data covering the 213 Solvency II and Solvency UK groups that have reported both 2024 and 2025 SCR ratios shows 119 ratios up, 88 down and 6 unchanged, with a median change of +3pp.

A wide spread behind a modest median

The distribution is wide. At the top, Groupe Victor Hugo added 369pp; at the bottom, SDK Gruppe shed 147pp. Most groups sit far from the extremes; the middle of the distribution clusters within roughly 25pp either side of zero.

Of the 213 groups, 174 report under Solvency II and 39 under Solvency UK. Figures are based on data available at the time of publication.

Aggregate SCR ratios diverge

The aggregate SCR ratio (total eligible own funds over total SCR for the groups in the sample) moved in opposite directions in the two regimes.

For the EU sample it rose from 217% in 2024 to 226% in 2025. For the UK sample it fell from 192% to 187%, in contrast to the EU trend and in line with the slightly higher number of UK ratios falling than rising.