Motor Insurance in Spain industry profile provides top-line qualitative and quantitative summary information including: market size (value 2010-14, and forecast to 2019). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Spain motor insurance market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.
Save time carrying out entry-level research by identifying the size, growth, and leading players in the motor insurance market in Spain Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the motor insurance market in Spain Leading company profiles reveal details of key motor insurance market players’ global operations and financial performance Add weight to presentations and pitches by understanding the future growth prospects of the Spain motor insurance market with five year forecasts Macroeconomic indicators provide insight into general trends within the Spain economy
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What was the size of the Spain motor insurance market by value in 2014? What will be the size of the Spain motor insurance market in 2019? What factors are affecting the strength of competition in the Spain motor insurance market? How has the market performed over the last five years?
The motor insurance market consists of motor insurance for personal and commercial vehicles, including cars, light & heavy trucks, vans, motorcycles and mopeds. The value of the motor insurance market reflects gross premium incomes. Gross premium income is defined as the insurer’s premium income for the year from its policies, calculated without reduction for reinsurance premiums paid or payable by the insurer. Any currency conversions used in the creation of this profile have been calculated using constant 2013 annual average exchange rates. The motor insurance market depends on a variety of economic and non-economic factors, and future performance is difficult to predict. The forecast given in this report is intended as a rough guide to the direction in which the market is likely to move. This forecast is based on a correlation between past market growth and the growth of base drivers, such as population numbers, GDP growth, and long-term interest rates.
The Spanish motor insurance market is forecast to generate total gross premium income of $8,348.6m in 2014, representing a compound annual rate of change (CARC) of -11.5% between 2010 and 2014.
The personal segment is expected to be the market's most lucrative in 2014, with total gross premium income of $6,583.2m, equivalent to 78.9% of the market's overall value.
The performance of the market is forecast to decline further but at a slower pace, with an anticipated CARC of -4.6% for the five-year period 2014 - 2019, which is expected to drive the market to a value of $6,602.8m by the end of 2019.