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Market Guide: Life Insurance and Pensions in Spain 2006

Datamonitor
April 17, 2007
37 Pages - SKU: DFMN1489330

Abstract Table of Contents Search inside this report Related Reports

Countries covered: Spain

Introduction

This report is most appropriate for companies looking for an overview of the life insurance and pensions markets in order to assess the level of market opportunity (using our market data and forecasts), regulatory barriers and opportunities, and level of competition in the market. For more detailed market data please refer to Datamonitor's European Life and Pensions Interactive Database 2006.

Scope

Presents competitor market data for life insurance and pensions companies; Assesses regulatory barriers and opportunities; 5 years historic data from 2001-5 and 5 year forecast to 2010.

Highlights

The new income tax law introduced systematic savings plans - PIAS (Planes Individuales de Ahorro Sistemático). Industry practitioners predict that PIAS will replace other types of life insurance for retirement and that, in some cases, contributions previously made to pension plans will be split between these and PIAS. In 2005, banks were the primary distribution channel for life insurance, when considered in terms of total premium income. However, insurance brokers and agents together accounted for the majority of new life premiums (36.32% and 35.44%, respectively). This represents a reduced proportion attributable to brokers and agents, when compared to 2004. Mapfre Vida is the largest life insurance company in Spain, measured by premium income. The company falls under the Mapfre-Caja Madrid Holding de Entidades Aseguradoras, S.A, which was created out of a strategic alliance between the Mapfre Group and Caja Madrid in 2000. The insurer reaches its customers through Mapfre and Caja Madrid branches.

Reasons to Purchase

Get an overview of the life and pensions market, including past growth and forecast growth; Assess regulatory barriers and opportunities affecting life insurance and pensions in this country; Analyze competition from life insurance compan

EXECUTIVE SUMMARY - MARKET HIGHLIGHTS: Market overview; Market forecasts; Market regulation; Competitive market structure; Market leaders
INTRODUCTION: What is this report about?; Who is the target reader?; How to use this report
CHAPTER 1 MARKET OVERVIEW: Introduction; Key findings; In the last five years, the Spanish life and pensions market has experienced negative compound year-on-year growth; Since 2003, the proportion of premium income attributed to individual policies has increased to roughly 80%; Between 2003 and 2005, premium income from non unit-linked insurance recovered, following the decline of the previous two years; Bonds consistently account for more than 60% of the investment assets of life and pensions insurance companies
CHAPTER 2 MARKET FORECASTS: Introduction; Key findings
CHAPTER 3 MARKET REGULATION: Introduction; Key findings
CHAPTER 4 COMPETITIVE MARKET STRUCTURE: Introduction 25; Key findings 25
CHAPTER 5 MARKET LEADERS: Introduction; Key findings
APPENDIX: Definitions; Further reading; Wealth, Investments & Protection writing team
LIST OF TABLES: Table 1: Life and pensions insurance premium income, segmented by product, EURm, 2001-2005; Table 2: Life and pensions insurance premium income, segmented by product, in percentages, 2001-2005; Table 3: Life and pensions insurance premium income, segmented by buyer, EURm, 2001-2005; Table 4: Life and pensions insurance premium income, segmented by buyer, in percentages, 2001-2005; Table 5: Life and pensions insurance premium income, segmented by investment risk, EURm, 2001-2005; Table 6: Life and pensions insurance premium income, segmented by investment risk, in percentages; Table 7: Investment assets of life and pensions insurance companies, EURm, 2001-2005; Table 8: Investment assets of life and pensions insurance companies, in percentages, 2001-2005; Table 9: Life and pensions insurance premium income, segmented by product, EURm, 2006-2010; Table 10: Life and pensions insurance premium income, segmented by product, in percentages, 2006-2010; Table 11: Number of life insurance and pensions providers, segmented by type, as at Dec 2005; Table 12: Top 5 life insurers by premium income, as at Dec 2005; Table 13: Life insurance premium income, segmented by distribution channel, in percentages, Jan-Dec 2005
LIST OF FIGURES: Figure 1: Negative compound annual growth in pensions premiums has counteracted growth in the life insurance market; Figure 2: Individual policies account for the majority of life and pensions premium income.; Figure 3: The decline in premium income from unit-linked insurance has exceeded that for non unit-linked policies; Figure 4: Since 2003 the proportion of the portfolio of investments of life and pensions insurance companies held in cash has declined significantly; Figure 5: The market will be split almost equally between life and pensions, with pensions premiums growing at a slightly faster rate; Figure 6: Spanish life insurance companies represent 57% of the life & pensions market, by number; Figure 7: Mapfre Vida leads the Spanish life insurance sector; Figure 8: Banks & savings banks account for roughly 70% of premium income

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Market Guide: Life Insurance and Pensions in Spain 2006

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