ACORD and Alchemy Crew recently conducted an extensive analysis of the leading European-headquartered insurers, representing €1.2T+ in annual revenue. The goal of the analysis was to explore the primary drivers of high performance in the European insurance market. • What did superior performers do differently than their competitors? • What were their strategies and tactics, and how did they approach innovation and change? • What can be learned in terms of leadership and culture? The study identified superior performers by applying a proprietary operating cash flow return model, and examined these high-performing insurers across a variety of quantitative and qualitative dimensions in order to answer these questions.