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Insurance industry in Spain - statistics & facts

Spain, as part of the European market, employs a multitude of different types of insurance policies, and any individual or business can find an insurance company offering services tailored to their specific needs.

Generally speaking, the insurance market consists of two main segments: life insurance and non-life insurance. A life insurance contract means that a beneficiary will receive a payment in the event of the policyholder’s death or terminal illness, whereas non-life insurance covers the multitude of other areas of activity, including car insurance, property and casualty insurance, and homeowner insurance.

When it comes to premiums written in Spain, the annual volume of life insurance in Spain fluctuated greatly in the most recent years, registering its lowest figures in 2014 at approximately 24.8 billion euros and peaking in 2016 at 31.1 billion euros. Similarly, life insurance annual claims varied considerably across the same period, with approximately 28 billion euros worth of benefits paid out in 2016.

The annual volume of non-life insurance premiums written, on the other hand, has only increased constantly, according to latest figures, registering a record high of 36.6 billion euros in 2019, of which approximately 11.3 billion euros corresponded to vehicle insurance. In this regard, about 8.2 billion euros worth of claims were paid out through motor insurance in Spain in 2018.

Key figures

The most important key figures provide you with a compact summary of the topic of "Insurance industry in Spain" and take you straight to the corresponding statistics.

Leading insurance groups

Premiums and claims

Interesting statistics

In the following 4 chapters, you will quickly find the 21 most important statistics relating to "Insurance industry in Spain".

Insurance industry in Spain

Dossier on the topic

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Insurance industry in Spain - statistics & facts

Spain, as part of the European market, employs a multitude of different types of insurance policies, and any individual or business can find an insurance company offering services tailored to their specific needs.

Generally speaking, the insurance market consists of two main segments: life insurance and non-life insurance. A life insurance contract means that a beneficiary will receive a payment in the event of the policyholder’s death or terminal illness, whereas non-life insurance covers the multitude of other areas of activity, including car insurance, property and casualty insurance, and homeowner insurance.

When it comes to premiums written in Spain, the annual volume of life insurance in Spain fluctuated greatly in the most recent years, registering its lowest figures in 2014 at approximately 24.8 billion euros and peaking in 2016 at 31.1 billion euros. Similarly, life insurance annual claims varied considerably across the same period, with approximately 28 billion euros worth of benefits paid out in 2016.

The annual volume of non-life insurance premiums written, on the other hand, has only increased constantly, according to latest figures, registering a record high of 36.6 billion euros in 2019, of which approximately 11.3 billion euros corresponded to vehicle insurance. In this regard, about 8.2 billion euros worth of claims were paid out through motor insurance in Spain in 2018.

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