Wednesday, 28 May 2025 Reading time : 2 minutes

European insurance companies are performing well in what has been a challenging year for the stock market so far. At the beginning of May, shares in French insurance giant Axa climbed to a record high, making up for the setback caused by the market turmoil the previous month.
 
Its competition is also performing well. The Stoxx Europe 600 Insurance index, which comprises 30 European insurers, has risen by more than 23% (including dividends, as of May 27, 2025) over the course of the year, significantly outperforming the overall market (+11.4%).

Alongside Axa, the German group Allianz and the Italian insurance company Generali are among the most important players in the European insurance industry. Insurers typically offer a broad portfolio of products, including life and health insurance, as well as property and liability insurance. This diversification can stabilise revenues when individual market segments come under pressure. Thanks to their stable business model, insurers are considered reliable dividend payers, making their shares ideal underlyings for yield enhancement returns.

Barrier Reverse Convertible on European Insurers
7.50% p.a. BRC on Allianz, Axa and Generali
Barrier: 70%
Valor: 144 651 175

Indicative terms

 

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