The good news: H1 2010 showed stabilization of capital and earnings for European insurers. The bad news: The challenges these insurers will face for the remainder of 2010 will make it difficult for them to restore profitability levels to those witnessed pre-crisis, according to Moody’s report "European Insurers' H1 2010 Results: Capital and Earnings Stabilise, but Market Conditions Remain Challenging." This reinforces the negative outlook from the rating agency on the wider European insurance industry.
"Moody's considers that European insurers' H1 2010 results represent a period of contrasting quarters, at least for the investment markets,” says David Masters, Moody's analyst and author of the report. “Q1 generated generally positive investment results, which was offset by significant market volatility in Q2."
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