Europe Insurance Earnings Tracker 1H'26 earnings are now in the books for our coverage

Equity Research 8 September 2026 | 8:13AM BST

Europe Insurance: Earnings Tracker: 1H’26 earnings are now in the books for our coverage

Andrew Baker, CFA | Goldman Sachs International

Vash Gosalia, CFA | Source: Goldman Sachs International

With M&G and Standard Life results now in the books, all 22 of our companies under Ankitha Giridhar | coverage (excluding those on which we are restricted) have now reported 1H’26 Goldman Sachs India SPL earnings. This final edition of our 1H’26 earnings tracker tool summarises: (1) Alice Palumbo reported results vs. company-collected consensus; (2) yoy KPI development; and (3) | stock performance on the day of the results. Goldman Sachs International

Overall, the average share price reaction on results days was 0.8% vs. the Stoxx 600, underpinned by an average operating profit, P&C COR and Solvency II beat of 2.3% / -0.8 ppts / 1.6 ppts, respectively. However, P&C Insurance Revenue was slightly weaker at -0.4%.

Download the latest earnings tracker here.

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Goldman Sachs Europe Insurance

September 8, 2026 Reporting Stats Based on the sample of European Insurance companies tracked

0.8% 22 100% 100% Price reaction relative to # companies reported companies reported market cap reported Stoxx 600*

Key Metrics For the latest half-yearly period for all tracked companies that have reported to date

Operating Profit Net Income DPS Solvency II

+2.3% vs. Consensus +0.9% vs. Consensus -1.1% vs. Consensus +1.6pp vs. Consensus +6.2% YoY +47.1% YoY +2.1% YoY +1.6pp YoY

P&C Insurance Revenue P&C Combined Ratio Life & Health CSM Life & Health NBM

-0.4% vs. Consensus -0.8pp vs. Consensus +1.3% vs. Consensus +0.1pp vs. Consensus +5.2% YoY -1.0pp YoY +7.1% YoY -0.0pp YoY

Consensus aggregates exclude companies that do not provide company-collected consensus Operating Profit and Net Income figures exclude Mandatum

Source: Company data, Goldman Sachs Global Investment Research