Life insurance sector market penetration rate in Spain 2005-2022
The market penetration ratio for life insurance in Spain fluctuated significantly between 2005 and 2022. After reaching a peak life insurance market penetration of 2.8 percent in 2016, this figure proceeded to drop dramatically in the following years. As of 2022, the market penetration rate had declined to 1.85 percent - the lowest figure recorded during the time period under observation.
