Among the key findings of the report are the following:
- Robust premium growth continued with an average increase of 8% for the full-year and 11% for Q4. Growth was fueled by both the improving economic environment and favorable pricing for commercial lines in particular;
- Combined ratios were stronger in 2021, improving from an average 98% at FY 20 to 95%, driven by better attritional loss ratios and natural catastrophes having less impact than last year's COVID losses;
- Capital positions in Europe strengthened further in 2021, with Solvency II capital ratios expanding from 209% to 226%;
- While the tracked group saw small but persistently positive earnings per share (EPS) estimate revisions following previous quarterly results last year, EPS estimates for 2022 were kept broadly unchanged following Q4 results;
- Inflation remains a hot topic.