S&P Warns Europe's Heatwaves Threaten Insurer Earnings as UK Excess Deaths Nearly Double 2025 Total

S&P warns that Europe's heatwaves could hit life and health insurers' earnings as heat-related mortality surges. The UK recorded 2,877 excess deaths from just two heatwaves in May and June 2026 — nearly double the 1,504 across all of summer 2025. S&P says rising claims may translate into higher premiums, though ratings remain unaffected for now.