Fitch: solid 2025 results for leading European reinsurers

According to Fitch Ratings, the four leading European reinsurers achieved an average return on equity (ROE) of 19.6% in 2025, exceeding the previous record of 17.1% set in 2023.

The strong profitability of Munich Re, Swiss Re, Hannover Re, and SCOR is driven by robust underwriting performance across most segments, along with stable investment returns.

Fitch also noted that the ongoing conflict in the Middle East is expected to generate limited and manageable losses for reinsurers.