{
  "id": 3197547,
  "title": "Europe’s heatwaves threaten insurers’ earnings, rating agency S&P says",
  "url": "https://urgent.news/2026/08/25/europes-heatwaves-threaten-insurers-earnings-rating-agency-s-p-says-3197547",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-25T04:00:48.000Z",
  "source": {
    "name": "Guardian Business",
    "slug": "guardian-business",
    "url": "https://www.theguardian.com/business/2026/aug/25/europe-heatwaves-insurance-companies-earnings"
  },
  "original_language": "en",
  "account": "Europe is bracing for potential financial impacts from record-breaking heatwaves, according to S&P Global Ratings. The agency warns that heat-related deaths and illness, especially among the aging population, could lead to increased claims and higher premiums for insurers. Between 2004 and 2024, the proportion of people aged 65 and over in the EU rose from 16.4% to 21.6%, while the percentage of those aged 80 and over increased from 3.8% to 6.1%. During the recent heatwave from June 22 to 28, about 9,000 of the 10,650 excess deaths occurred in individuals aged 65 or older, as rising temperatures exacerbated pre-existing health conditions like heart disease and dehydration. In addition to heat-related fatalities, the prolonged period of extreme heat has resulted in a surge in demand for private medical services, potentially straining insurers' financial resources. S&P's report highlights the growing vulnerability of older adults to heat stress, as they sweat less, experience harder heartbeats in high temperatures, and have less effective blood vessels to regulate body temperature. Recent studies suggest that even lower temperatures can pose significant risks to the elderly. While no immediate negative effects on company ratings have been observed, S&P cautions that as heatwaves become more frequent and intense across Europe, combined with the aging population, insurers may face mounting financial risks in the medium to long term. The agency will continue to monitor the situation and its potential impact on the performance of rated reinsurers.",
  "summary": "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…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Guardian Health",
        "title": "Europe’s heatwaves threaten insurers’ earnings, rating agency S&P says",
        "url": "https://urgent.news/2026/08/25/europes-heatwaves-threaten-insurers-earnings-rating-agency-s-p-says",
        "published": "2026-08-25T04:00:48.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}