Insurance sector market penetration rate in Spain in 2005-2022
The annual penetration rate of the insurance sector in Spain fluctuated significantly between 2005 and 2022. As of 2022, the penetration rate on the total insurance market in Spain was 4.87 percent - a slight decrease from the previous year. After a downward trend that initiated in the year 2011, market penetration in the insurance sector in Spain peaked in 2016, when it stood at over 5.7 percent.
