Analysis of group Solvency II and Solvency UK Solvency and Financial Condition Reports (SFCRs) shows group solvency ratios are down in 2024 relative to 2023.
The sample, which totals just over one trillion Euro in Eligible Own Funds to meet the group SCR (S.23.01.04_R0660_C0010 in Solvency, IR.23.01.04_R0660_C0010 in Solvency UK), had an average solvency ratio of 218% in 2024 (222% in 2023).
According to the official EIOPA insurance statistics, the average solvency ratio for the whole EU group market in 2023 was 221%.
The sample includes most major groups in Europe and the UK; the left axis shows the proportion coverage of the number of groups relative to 2023 on Solvency II Wire Data.
Although most country averages in the sample were down, there is some variation amongst markets (see chart below).
The UK is one of the few markets that exhibited a higher average group ratio in 2024 (194% in 2024 compared to 190% in 2023).
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