That could ultimately translate to higher premiums for customers, as insurers try to cover increased payouts to policyholders.<\/p>\n
Europe\u2019s heatwaves, paired with its ageing population, have created a perfect storm, with the health impacts of high temperatures falling disproportionately on older people. That fact has resulted in a wave of life insurance claims over heat-related deaths, and increased demand for private medical services, at a time when rising temperatures have not yet been fully reflected in original contracts.<\/p>\n
Between 2004 and 2024, the share of people aged 65 and over in the EU rose from 16.4% to 21.6%, while the proportion of those aged 80 and over rose from 3.8% to 6.1%. \u201cThe increasing share of elderly people \u2013 who are particularly vulnerable to heat stress \u2013 suggests that heat-related mortality in Europe is likely to rise,\u201d the S&P report said .<\/p>\n
About 9,000 of the 10,650 excess deaths recorded during the 22-28 June heatwave were among those 65 and over, as rising heat exacerbated underlying conditions such as heart disease and dehydration.<\/p>\n
\u201cBeyond heat-related deaths, it\u2019s also deteriorating health conditions and the resulting increase in treatment and hospitalisations that might weigh on re\/insurers\u2019 financials and, subsequently, increase premiums,\u201d the report said.<\/p>\n
A study<\/a> in The Lancet Planetary Health recently found that people aged 60 and over face dangers<\/a> from exposure to heat at much lower temperatures than previously thought. Older adults sweat less, their hearts work harder in the heat, and their blood vessels are less able to widen, limiting their capacity to stay cool.<\/p>\n In the UK alone, the four-day heatwave in May and eight-day heatwave in June together caused 2,877 excess deaths, compared with the 1,504 seen during the summer of 2025<\/a>.<\/p>\n There has been little reprieve, with the mercury rising beyond 40 degrees Celsius across Europe earlier this month, breaking records in countries including Slovakia, Austria and Hungary<\/a> earlier this month. And given heatwaves can affect large regions and last for weeks, they could end up compounding financial risks for insurers.<\/p>\n
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