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Life Insurance in Spain, Key Trends and Opportunities to 2020

Life Insurance in Spain, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Life Insurance in Spain, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Spanish life insurance segment, and a comparison of the Spanish insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Spanish economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Life Insurance in Spain, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Spanish life insurance segment, including:

  • An overview of the Spanish life insurance segment
  • The Spanish life insurance segment’s growth prospects by category
  • A comprehensive overview of the Spanish economy and demographics
  • A comparison of the Spanish life insurance segment with its regional counterparts
  • The various distribution channels in the Spanish life insurance segment
  • Details of the competitive landscape in the life insurance segment in Spain
  • Details of regulatory policy applicable to the Spanish insurance industry
Scope

This report provides a comprehensive analysis of the life insurance segment in Spain:
  • It provides historical values for the Spanish life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Spanish life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Spanish life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for life insurance products in Spain.
  • It profiles the top life insurance companies in Spain and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Spanish life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Spanish life insurance segment.
  • Assess the competitive dynamics in the life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Spanish insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • The Spanish public pension system consists of two different programs: non-contributory (Beveridgean), and contributory (Bismarckian).
  • The life segment is better developed than the non-life and personal accident and health segments, and posted a penetration rate of 2.4% in 2015.
  • The life segment recorded a review-period growth in investment income, primarily due to a strong investment portfolio and a mix of equities and bonds.
  • The country’s weak economic conditions affected the sale of life products – particularly endowment, individual life and group superannuation – causing a decline in the written premium.


  • Key Facts and Highlights
    • Table Spanish Life Insurance - Key Facts, 2015
    • Table Spanish Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Spanish Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Spanish Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2011-2015
        • Table Spanish Life Insurance - Penetration (%), 2011-2015
        • Table Spanish Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2015-2020
        • Table Spanish Life Insurance - Penetration (%), 2015-2020
        • Table Spanish Life Insurance - New Business Direct Written Premium (EUR Billion and US$ Billion), 2011-2015
        • Table Spanish Life Insurance - New Business Direct Written Premium (EUR Billion and US$ Billion), 2015-2020
        • Table Spanish Life Insurance - Premium per Capita (EUR and US$), 2011-2015
        • Table Spanish Life Insurance - Premium per Capita (EUR and US$), 2015-2020
      • Policies sold
        • Table Spanish Life Insurance - Number of Policies Sold (Million), 2011-2015
        • Table Spanish Life Insurance - Number of Policies Sold (Million), 2015-2020
      • Claims
        • Table Spanish Life Insurance - Paid Claims (EUR Billion and US$ Billion), 2011-2015
        • Table Spanish Life Insurance - Paid Claims (EUR Billion and US$ Billion), 2015-2020
      • Assets and investments
        • Table Spanish Life Insurance - Total Assets (EUR Billion and US$ Billion), 2011-2015
        • Table Spanish Life Insurance - Total Assets (EUR Billion and US$ Billion), 2015-2020
        • Table Spanish Life Insurance - Total Investment Income (EUR Billion and US$ Billion), 2011-2015
        • Table Spanish Life Insurance - Total Investment Income (EUR Billion and US$ Billion), 2015-2020
        • Table Spanish Life Insurance - Investment Portfolio (EUR Billion), 2011-2015
        • Table Spanish Life Insurance - Investment Portfolio (EUR Billion), 2015-2020
  • Outlook by Category
    • Table Spanish Life Insurance - Direct Written Premium by Category (EUR Billion), 2011-2015
    • Table Spanish Life Insurance - Direct Written Premium by Category (EUR Billion), 2015-2020
    • Individual Life Insurance
      • Premium
        • Table Spanish Individual Life Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2011-2015
        • Table Spanish Individual Life Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2015-2020
      • Policies sold
        • Table Spanish Individual Life Insurance - Number of Policies Sold by Sub-Category (Million), 2011-2015
        • Table Spanish Individual Life Insurance - Number of Policies Sold by Sub-Category (Million), 2015-2020
      • Penetration
    • Group Life Insurance
      • Premium
        • Table Spanish Group Life Insurance - Direct Written Premium by Category (EUR Billion), 2011-2015
        • Table Spanish Group Life Insurance - Direct Written Premium by Category (EUR Billion), 2015-2020
      • Policies sold
        • Table Spanish Group Life Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015
        • Table Spanish Group Life Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020
      • Penetration
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Table Spanish Life Insurance - New Business Direct Written Premium by Distribution Channel (EUR Billion), 2011-2015
      • Table Spanish Life Insurance - New Business Direct Written Premium by Distribution Channel (EUR Billion), 2015-2020
      • Table Spanish Life Insurance - Percentage of New Business Direct Written Premium, by Distribution Channel, 2011-2020
  • Competitive Landscape
    • Table Spanish Life Segment - Market Shares of Leading Insurers (%), 2015
    • Company Profiles
      • VidaCaixa - company overview
        • Table VidaCaixa - Key Facts
        • Table VidaCaixa - Key Financials (EUR Billion), 2011-2014
      • BanSabadell Vida - company overview
        • Table BanSabadell Vida - Key Facts
        • Table BanSabadell Vida - Key Financials (EUR Million), 2011-2014
      • BBVA Seguros - company overview
        • Table BBVA Seguros - Key Facts
        • Table BBVA Seguros - Key Financials (EUR Million), 2011-2014
      • Mapfre Vida - company overview
        • Table Mapfre Vida - Key Facts
        • Table Mapfre Vida - Key Financials (EUR Million), 2011-2014
      • Ibercaja Vida - company overview
        • Table Ibercaja Vida - Key Facts
        • Table Ibercaja Vida - Key Financials (EUR Million), 2011-2014
  • Governance, Risk and Compliance
    • Table Spain - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Spain - Life Insurance Regulatory Framework
      • Property insurance
        • Table Spain - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Spain - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Spain - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Marine liability insurance
      • Marine passenger liability insurance
      • Social insurance system
      • Air carriers and aircraft operators insurance
        • Table Spain - Minimum Coverage for Aircraft Third-Party Liability per Accident Per Aircraft
      • Professional indemnity insurance for alternative investment fund managers
      • Liability for ships with respect to oil pollution
    • Supervision and Control
      • International Association of Insurance Supervisors
      • European Insurance and Occupational Pensions Authority
      • Federation of European Risk Management Associations
      • Directorate General of Insurance and Pension Funds
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
        • Table Spain - Insurance Premium Taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Spain - Corporate Tax Rates for the Financial Year 2017
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table Spanish Life Insurance - Policies and Premium, 2011-2015
      • Table Spanish Life Insurance - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Spanish Life Insurance - Claims and Expenses, 2011-2015
      • Table Spanish Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Spanish Life Insurance - Assets and Investments, 2011-2015
      • Table Spanish Life Insurance - Assets and Investments, 2015-2020
    • Direct Marketing and E-Commerce
      • Table Spanish Life Insurance - Direct Marketing and E-Commerce, 2011-2015
      • Table Spanish Life Insurance - Direct Marketing and E-Commerce, 2015-2020
    • Insurance Brokers and Agencies
      • Table Spanish Life Insurance - Insurance Brokers and Agencies, 2011-2015
      • Table Spanish Life Insurance - Insurance Brokers and Agencies, 2015-2020
    • Bancassurance and Other Distribution Channels
      • Table Spanish Life Insurance - Bancassurance and Other Distribution Channels, 2011-2015
      • Table Spanish Life Insurance - Bancassurance and Other Distribution Channels, 2015-2020
    • Individual Life Insurance
      • Table Spanish Life Insurance - Individual Life Insurance, 2011-2015
      • Table Spanish Life Insurance - Individual Life Insurance, 2015-2020
    • Individual Life Insurance by Product
      • Table Spanish Life Insurance - Individual Life Insurance by Product, 2011-2015
      • Table Spanish Life Insurance - Individual Life Insurance by Product, 2015-2020
    • Group Life Insurance
      • Table Spanish Life Insurance - Group Life Insurance, 2011-2015
      • Table Spanish Life Insurance - Group Life Insurance, 2015-2020
    • Group Life Insurance by Product
      • Table Spanish Life Insurance - Group Life Insurance by Product, 2011-2015
      • Table Spanish Life Insurance - Group Life Insurance by Product, 2015-2020
    • Individual Life - Single vs Non-Single Premium
      • Table Spanish Life Insurance - Individual Life Insurance by Premium, 2011-2015
      • Table Spanish Life Insurance - Individual Life Insurance by Premium, 2015-2020
    • Group Life - Single vs Non-Single Premium
      • Table Spanish Life Insurance - Group Life Insurance by Premium, 2011-2015
      • Table Spanish Life Insurance - Group Life Insurance by Premium, 2015-2020
    • Linked vs Non-Linked Policies
      • Table Spanish Life Insurance - Linked vs. Non-Linked Policies, 2011-2015
      • Table Spanish Life Insurance - Linked vs. Non-Linked Policies, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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