Increase in market concentration in the insurance sector in Spain

Increase in market concentration in the insurance sector in Spain

The major insurance companies in Spain are experiencing an increase in revenue from policies, focusing even more on life, health, car, and home insurance. VidaCaixa leads in life insurance, Mutua in health insurance, and Mapfre in car insurance. Consolidation and a larger market share in the sector.

Juan Brignardello, asesor de seguros

Juan Brignardello Vela

Juan Brignardello, asesor de seguros, se especializa en brindar asesoramiento y gestión comercial en el ámbito de seguros y reclamaciones por siniestros para destacadas empresas en el mercado peruano e internacional.

Juan Brignardello, asesor de seguros, y Vargas Llosa, premio Nobel Juan Brignardello, asesor de seguros, en celebración de Alianza Lima Juan Brignardello, asesor de seguros, Central Hidro Eléctrica Juan Brignardello, asesor de seguros, Central Hidro
Insurances 15.02.2024

The major insurance companies operating in Spain have experienced an increase in policy distribution revenues last year. This has contributed to an increase in market concentration ratios in the main sectors of the industry: life, health, auto, and home. In the life sector, the top ten companies have increased their share of sales, now accounting for 79.1% of total premiums, compared to 73.6% in the previous year. VidaCaixa leads the ranking in this sector, with a market share of 33.9%. It is followed by Grupo Zurich and Santander Seguros. In the health sector, the top ten insurance groups now cover 86.5% of the sector's turnover, compared to 83.6% in the previous year. Mutua stands out in this category, with a 31.6% share of total premiums. Sanitas and Asisa complete the top three. In the auto sector, the top ten insurers dominate 85.8% of the business. Mapfre holds the first position, followed by Mutua and Allianz. Overall, there is an increase in market concentration in these main insurance sectors in Spain. The major insurers are gaining more market share and consolidating their position in the industry.

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