Europe's Heatwaves Threaten Insurers' Earnings, S&P Warns

Europe’s heatwaves threaten insurers’ earnings, rating agency S&P says

Rise in claims linked to heat-related deaths and illness, especially among older people, could drive up premiums Europe’s intense heatwaves could hit insurers’ earnings as companies face a rise in claims linked to heat-related deaths and worsening health conditions, the rating agency S&P has said. While a long summer of extreme heat will have increased drought and wildfire-related claims, the rating agency said there would also be fallout for life and health insurers, and for the reinsurers w...

By Kalyeena Makortoff Banking correspondent