The Spanish insurance market in 2023
In a year in which a global economic slowdown was anticipated due to the effect of a restrictive monetary policy by the main central banks in their fight against inflation, the macroeconomic environment turned out to be more favorable than initially expected, which favored the development of insurance activity in most countries in the world. Within this framework, this report presents an evaluation of the performance of, and prospects for, insurance activity in Spain, from both a conjunctural and a medium-term structural viewpoint, considering parameters such as premium growth, technical performance, the evolution of investments and technical provisions, results and profitability, penetration, density and depth of insurance penetration, and levels of the insurance protection gap.
The Spanish insurance market in 2023 (English)
The Spanish insurance market in 2023 (Spanish)
The Spanish insurance market in 2022
Against the backdrop of a slowdown in economic activity, brought on by the implementation of a restrictive monetary policy implemented to combat further inflationary pressures, this report reviews, from both a short and medium-term perspective, the recent performance of insurance activity in Spain. In the short-term analysis, the report examines the behavior of the sector’s main lines of business, looking at premium growth, technical performance, investments and technical provisions, as well as results and profitability. The medium-term perspective focuses on the main structural trends of insurance, considering penetration levels, density and the overall acceptance of insurance in Spanish society, in addition to updating the measurement of the insurance gap in the country’s market.
The Spanish insurance market in 2022 (English)
The Spanish insurance market in 2022 (Spanish)
The Spanish insurance market in 2021
As in the previous year, this new edition of The Spanish Insurance Market report offers an overview that continues to be marked by the effects of the Covid-19 pandemic on both the society and economy in Spain and, by extension, on the insurance sector. The report, from both a short-term and medium-term structural viewpoint, presents the analysis prepared by MAPFRE Economics to assess the performance and prospects of insurance activity in Spain in aspects such as: the structure of the insurance sector, the analysis of the main lines of business, structural and growth trends, and the behavior of the capital requirements, own funds and solvency ratios of a representative group of insurance companies.
The Spanish insurance market in 2021 (Spanish)
The Spanish insurance market in 2021 (English)
The Spanish insurance market in 2021 (Spanish) (ePub)
The Spanish insurance market in 2020
The Spanish insurance market in 2020 aims to show the performance of insurance activity that year, from both a short-term and medium-term perspective, through its usual sections on the economic and demographic context, the structure of the insurance sector, the analysis of the main lines of business, structural growth trends, the behavior of capital requirements, equity and solvency ratios of a representative group of insurance companies, and a brief description of the recent development of the regulatory landscape. This edition is of particular interest insofar as it analyzes the performance of the insurance sector in Spain in a year like 2020, which was marked by the economic and social impact of the Covid-19 pandemic.
The Spanish insurance market in 2020 (English)
The Spanish insurance market in 2020 (Spanish)
The Spanish insurance market in 2020 (Spanish) (ePub)
The Spanish insurance market in 2019
This edition of The Spanish Insurance Market report aims to provide a panoramic of the sector’s performance in 2019. To this end, the analysis looks at the structure and concentration of the sector, and the performance of the main lines of business. Further, this report provides a review of the market’s key structural trends (penetration, density and depth) in the 2009-2019 period, as well as an update of the Insurance Protection Gap estimates for the Spanish market. Finally, as in previous editions, this report provides information regarding the behavior of capital requirements, own funds and solvency ratios for a representative set of insurance entities.
The Spanish insurance market in 2019 (English)
The Spanish insurance market in 2019 (Spanish)
The Spanish insurance market in 2019 (English) (ePub)
The Spanish insurance market in 2019 (Spanish) (ePub)
The Spanish insurance market in 2018
This report aims to provide a perspective on the performance of the Spanish insurance industry in 2018, looking at its structure and concentration, as well as provide a review of the performance of the most relevant lines of business. Additionally, the report shows the main structural trends of the Spanish insurance market, which includes behavior of insurance penetration, density and depth over the course of the last decade, and gives an updated estimate of the Insurance Protection Gap. Finally, the study offers information regarding the behavior of solvency capital requirements, own funds and ratios, for a representative selection of insurance entities in this market.
The Spanish insurance market in 2018 (English)
The Spanish insurance market in 2018 (Spanish)
The Spanish insurance market in 2018 (English) (ePub)
The Spanish insurance market in 2018 (Spanish) (ePub)
The Spanish insurance market in 2017
This report analyses the Spanish insurance market in 2017 and its economic context. In general terms, the positive economic behavior led to growth in the majority of lines in the insurance business The low interest rate environment, however, slowed premium growth in the Life line, though managed savings increased. Further, profitability and high aggregate solvency levels are noteworthy in the Spanish insurance sector in 2017.
The Spanish insurance market in 2017 (English)
The Spanish insurance market in 2017 (Spanish)
The Spanish insurance market in 2017 (English) (ePub)
The Spanish insurance market in 2017 (Spanish) (ePub)
The Spanish insurance market in 2016
This report looks at the Spanish Insurance Market in 2016 and the underlying economic environment. It confirms the turning point marked by the nascent pick-up in global economic growth, led by emerging economies, amid the shift from an easy monetary policy to a looser fiscal policy stance. The year featured uncertainties surrounding geopolitics and regional governance in the EU, reaching a crunch point with Brexit in the UK. Spanish GDP grew by 3.2 percent in 2016, extending the positive momentum seen the year before. Improved household and business consumption drove growth in all business lines in the insurance market, with aggregate premium volume up 12.4 percent. Life insurance stood out, supported by negligible or zero returns on bank deposits. The Spanish insurance sector showed gains in profitability and, in general, high solvency levels under the new Solvency II metric.
The Spanish insurance market in 2016 (English)
The Spanish insurance market in 2016 (Spanish)
The Spanish insurance market in 2016 (English) (ePub)
The Spanish insurance market in 2016 (Spanish) (ePub)
The Spanish insurance market in 2015
This report prepared by MAPFRE Economic Research offers an overview of the Spanish Insurance Market in 2015. A general review of the economic context is used as the starting point to analyze the insurance market structure, general premium growth, and investment performance, among other relevant aspects of the sector. Additionally, the report includes a section that analyzes the main structural trends of the Spanish insurance market over the last decade, allowing efficient comparisons to be made in order to study the evolution of insurance as a financial product in the country.
The Spanish insurance market in 2015 (English)
The Spanish insurance market in 2015 (Spanish)
The Spanish insurance market in 2015 (Spanish) (ePub)