In 2020, reinsurance companies had the highest solvency capital requirement (SCR) ratio of the different kinds of insurance companies, coming in at 2.25, however the ratio was above 2.15 for all insurance company types. This means that European reinsurance companies held 2.25 times more 'eligible own funds' than was required by to meet their SCR obligations.
Median solvency capital requirement (SCR) ratio of insurance companies in Europe in 2020, by company type
The source added the following information "Insurance undertakings are required by the Solvency II regulation to hold a certain amount of capital of sufficient quality in addition to the assets they hold to cover the contractual obligations towards policyholders. The amount of capital (called eligible own funds) required is defined by the Minimum Capital Requirement (MCR) and the Solvency Capital Requirement (SCR), which depend on the risks to which the undertaking is exposed. If the amount of eligible own funds falls below the MCR, the insurance license should be withdrawn if appropriate coverage cannot be re-established within a short period of time."
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EIOPA. (September 29, 2021). Median solvency capital requirement (SCR) ratio of insurance companies in Europe in 2020, by company type [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1268971/non-life-insurance-solvency-capital-requirement-ratio-company-type-europe/
EIOPA. "Median solvency capital requirement (SCR) ratio of insurance companies in Europe in 2020, by company type." Chart. September 29, 2021. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1268971/non-life-insurance-solvency-capital-requirement-ratio-company-type-europe/
EIOPA. (2021). Median solvency capital requirement (SCR) ratio of insurance companies in Europe in 2020, by company type. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1268971/non-life-insurance-solvency-capital-requirement-ratio-company-type-europe/
EIOPA. "Median Solvency Capital Requirement (Scr) Ratio of Insurance Companies in Europe in 2020, by Company Type." Statista, Statista Inc., 29 Sep 2021, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1268971/non-life-insurance-solvency-capital-requirement-ratio-company-type-europe/
EIOPA, Median solvency capital requirement (SCR) ratio of insurance companies in Europe in 2020, by company type Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1268971/non-life-insurance-solvency-capital-requirement-ratio-company-type-europe/ (last visited November 10, 2024)
Median solvency capital requirement (SCR) ratio of insurance companies in Europe in 2020, by company type [Graph], EIOPA, September 29, 2021. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1268971/non-life-insurance-solvency-capital-requirement-ratio-company-type-europe/
