Penetration in the auto insurance sector in the Spanish market 2005-2021
The penetration rate of vehicle insurance in the Spanish market decreased year-on-year from 2005 to 2021, except in the years 2016 and 2020, when slight increased were observed. As of 2021, the annual penetration rate in the Spanish auto insurance sector stood at 0.9 percent - same as the figure recorded in 2019. The year 2020 marked the highest increase during the period under observation, although the rate of penetration remains significantly below the rates obtained prior to 2009.
