This report does not constitute a rating action. Most major rated insurers and reinsurers in Europe, the Middle East, and Africa (EMEA) reported robust operational and financial results in the first half of 2026. Re/insurers have demonstrated that they can consistently deliver on their financial targets even when facing economic uncertainty and geopolitical instability. EMEA re/insurers are likely to continue performing robustly in the full year, judging by their strong discounted combined ratios of around 89% in the first half of 2026. In this report, S&P Global Ratings outlines performance trends for 50 rated EMEA-based publicly listed or debt-issuing re/insurers. Of these, 46 have reported operating and financial results for the first half of 2026. The 50 rated re/insurers in
