This is one of the conclusions from the “Spanish Insurance Market 2018” report presented today by Economic Research and published by the MAPFRE Foundation.
However, the insurance industry in Spain still has a way to go to reach the optimal size and to provide the coverage that is economically necessary and beneficial to society, the study concluded.
In order to understand in its entirety this and other aspects that surround the evolution of the Spanish insurance market in fiscal year 2018 and over the decade, MAPFRE Economic Research created this report which analyzes the economic and demographic context globally and in Spain, as well as specific sectors of the economy that are strongly linked to insurance activity.
Furthermore, it describes the structure of the market, with data on its concentration, Spanish companies’ operations in other markets, foreign capital in the Spanish insurance sector, the activity of mutual provident societies, and distribution channels, including an analysis on the evolution of the main lines of business.
Additionally, it provides updated information on the structural growth trends in insurance in Spain and analyzes the solvency ratios published for a sample of the main insurance companies that operate on this market. Finally, it concludes with a general overview of regulatory changes on the global, European, and Spanish levels.