Non-Life Insurance in Spain
Summary
Non-Life Insurance in Spain industry profile provides top-line qualitative and quantitative summary information including: market size (value 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
- Non-life insurance is defined as any insurance not determined to be life insurance. It includes automobile and homeowners' policies and provides payments depending on the loss from a particular financial event. The market value is measured by the written premium generated by market players within a given year.
- The Spanish non-life insurance market recorded written premiums of $46.8 billion in 2023, representing a compound annual growth rate (CAGR) of 2.1% between 2018 and 2023.
- The motor segment accounted for the market's largest proportion in 2023, with total written premiums of $13.4 billion, equivalent to 28.6% of the market's overall value.
- The Spanish non-life insurance market is experiencing significant growth, driven by rising awareness of the importance of insurance in safeguarding assets and mitigating financial risks. This heightened awareness has led to an increase in the number of active non-life insurance policies. According to the Directorate General of Insurance and Pension Funds of Spain, in 2023, the number of active non-life insurance policies in the country reached 126.3 million, an increase of 2.9% from the previous year.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in Spain
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in Spain
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Spain non-life insurance market with five year forecasts
- What was the size of the Spain non-life insurance market by value in 2023?
- What will be the size of the Spain non-life insurance market in 2028?
- What factors are affecting the strength of competition in the Spain non-life insurance market?
- How has the market performed over the last five years?
- What are the main segments that make up Spain's non-life insurance 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. Grupo Mutua Madrilena
- 8.2. Mapfre SA
- 8.3. AXA SA
- 8.4. Allianz SE
- 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 non-life insurance market value: $ billion, 2018-23
- Table 2: Spain non-life insurance market category segmentation: % share, by value, 2018-23
- Table 3: Spain non-life insurance market category segmentation: $ billion, 2018-23
- Table 4: Spain non-life insurance market geography segmentation: $ billion, 2023
- Table 5: Spain non-life insurance market value forecast: $ billion, 2023-28
- Table 6: Spain non-life insurance market share: % share, by value, 2023
- Table 7: Grupo Mutua Madrilena: Key Facts
- Table 8: Grupo Mutua Madrilena: 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: AXA SA: Key Facts
- Table 14: AXA SA: Annual Financial Ratios
- Table 15: AXA SA: Key Employees
- Table 16: AXA SA: Key Employees Continued
- Table 17: Allianz SE: Key Facts
- Table 18: Allianz SE: Annual Financial Ratios
- Table 19: Allianz SE: Key Employees
- Table 20: Allianz SE: Key Employees Continued
- Table 21: Spain Size of Population (million), 2019-23
- Table 22: Spain Real GDP (Constant 2010 Prices, $ Billion), 2019-23
- Table 23: Spain GDP (Current Prices, $ Billion), 2019-23
- Table 24: Spain Inflation, 2019-23
- Table 25: Spain Consumer Price Index (Absolute), 2019-23
- Table 26: Spain Exchange Rate, 2018-23
- List of Figures
- Figure 1: Spain non-life insurance market value: $ billion, 2018-23
- Figure 2: Spain non-life insurance market category segmentation: $ billion, 2018-23
- Figure 3: Spain non-life insurance market geography segmentation: % share, by value, 2023
- Figure 4: Spain non-life insurance market value forecast: $ billion, 2023-28
- Figure 5: Forces driving competition in the non-life insurance market in Spain, 2023
- Figure 6: Drivers of buyer power in the non-life insurance market in Spain, 2023
- Figure 7: Drivers of supplier power in the non-life insurance market in Spain, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in Spain, 2023
- Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in Spain, 2023
- Figure 10: Drivers of degree of rivalry in the non-life insurance market in Spain, 2023
- Figure 11: Spain non-life insurance market share: % share, by value, 2023
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