Life Insurance & Pension in Spain
Summary
Life Insurance & Pension in Spain industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Life insurance & pension is the financial cover for a contingency linked with human life, like death, disability, accident, retirement etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is loss of income to the household.
- The Spanish life insurance & pension market recorded gross written premiums of $39.9 billion in 2023, representing a compound annual growth rate (CAGR) of 3.1% between 2018 and 2023.
- The life insurance segment accounted for the market's largest proportion in 2023, with total gross written premiums of $34.9 billion, equivalent to 87.4% of the market's overall value.
- The growth in the Spanish life insurance & pension market is driven by the increasing population of individuals aged 65 and above. This demographic shift is fuelling demand for retirement savings plans and income protection policies as people seek financial security for their post-retirement years. According to Eurostat, the population of individuals aged 65 and above in Spain stood at 9.9 million in 2023, an increase of 3.3% from the previous year.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance & pension market in Spain
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance & pension market in Spain
- Leading company profiles reveal details of key life insurance & pension market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Spain life insurance & pension market with five year forecasts by both value and volume
- What was the size of the Spain life insurance & pension market by value in 2023?
- What will be the size of the Spain life insurance & pension market in 2028?
- What factors are affecting the strength of competition in the Spain life insurance & pension market?
- How has the market performed over the last five years?
- What are the main segments that make up Spain's life insurance & pension market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market share
- 1.6. Market rivalry
- 1.7. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Market share
- 7.2. Who are the leading players?
- 7.3. What are the strategies of the leading players?
- 7.4. What are the strengths of the leading players?
- 8 Company Profiles
- 8.1. Santander Seguros y Reaseguros, Compania Aseguradora SA
- 8.2. Mapfre SA
- 8.3. Zurich Insurance Group Ltd
- 8.4. VidaCaixa, S.A.U. de Seguros y Reaseguros
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: Spain life insurance & pension market value: $ billion, 2018-23
- Table 2: Spain life insurance & pension market category segmentation: % share, by value, 2018-23
- Table 3: Spain life insurance & pension market category segmentation: $ billion, 2018-23
- Table 4: Spain life insurance & pension market geography segmentation: $ billion, 2023
- Table 5: Spain life insurance & pension market value forecast: $ billion, 2023-28
- Table 6: Spain life insurance & pension market share: % share, by value, 2023
- Table 7: Santander Seguros y Reaseguros, Compania Aseguradora SA: Key Facts
- Table 8: Santander Seguros y Reaseguros, Compania Aseguradora SA: Key Employees
- Table 9: Mapfre SA: Key Facts
- Table 10: Mapfre SA: Annual Financial Ratios
- Table 11: Mapfre SA: Key Employees
- Table 12: Mapfre SA: Key Employees Continued
- Table 13: Zurich Insurance Group Ltd: Key Facts
- Table 14: Zurich Insurance Group Ltd: Annual Financial Ratios
- Table 15: Zurich Insurance Group Ltd: Key Employees
- Table 16: Zurich Insurance Group Ltd: Key Employees Continued
- Table 17: VidaCaixa, S.A.U. de Seguros y Reaseguros: Key Facts
- Table 18: VidaCaixa, S.A.U. de Seguros y Reaseguros: Key Employees
- Table 19: Spain Size of Population (million), 2019-23
- Table 20: Spain Real GDP (Constant 2010 Prices, $ Billion), 2019-23
- Table 21: Spain GDP (Current Prices, $ Billion), 2019-23
- Table 22: Spain Inflation, 2019-23
- Table 23: Spain Consumer Price Index (Absolute), 2019-23
- Table 24: Spain Exchange Rate, 2018-23
- List of Figures
- Figure 1: Spain life insurance & pension market value: $ billion, 2018-23
- Figure 2: Spain life insurance & pension market category segmentation: $ billion, 2018-23
- Figure 3: Spain life insurance & pension market geography segmentation: % share, by value, 2023
- Figure 4: Spain life insurance & pension market value forecast: $ billion, 2023-28
- Figure 5: Forces driving competition in the life insurance & pension market in Spain, 2023
- Figure 6: Drivers of buyer power in the life insurance & pension market in Spain, 2023
- Figure 7: Drivers of supplier power in the life insurance & pension market in Spain, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the life insurance & pension market in Spain, 2023
- Figure 9: Factors influencing the threat of substitutes in the life insurance & pension market in Spain, 2023
- Figure 10: Drivers of degree of rivalry in the life insurance & pension market in Spain, 2023
- Figure 11: Spain life insurance & pension market share: % share, by value, 2023
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook