Life Insurance in Spain, Key Trends and Opportunities to 2017, New Report Launched

During the review period (2008–2012), the Spanish life insurance segment, as compared to other developed European countries, was moderately affected by the global financial crisis and declined by a CAGR of -0.7%. In comparison, the UK’s life insurance segment declined by a CAGR of -3.9% and that of France declined by -2.4% during the same period. High demand for guaranteed return products and the increasing need for pension products supported the segment during the review period. The fast aging population and reduced public spending by government are expected to drive growth in the Spanish life insurance segment over the forecast period (2012–2017). Overall, the segment is expected to grow at a forecast-period CAGR of 3.1%.

The report provides in-depth market analysis, information and insights into the Spanish life insurance segment, including:

• The Spanish life insurance segment’s growth prospects by life insurance categories
• Key trends and drivers for the life insurance segment
• The various distribution channels in the Spanish life insurance segment
• The detailed competitive landscape in the life insurance segment in Spain
• Regulatory policies of the Spanish insurance industry
• A description of the life reinsurance segment in Spain
• Porter's Five Forces analysis of the life insurance segment
• A benchmarking section on the Spanish life insurance segment in comparison with other countries with US$60–US$150 billion in gross written premium

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 2008–2012 review period and forecast figures for the 2012–2017 forecast period.
• It offers a detailed analysis of the key categories in the Spanish life insurance segment, along with market forecasts until 2017.
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
• It analyses the various distribution channels for life insurance products in Spain.
• Using Porter’s industry-standard 'Five Forces' analysis, it details the competitive landscape in Spain for the life insurance business.
• It provides a detailed analysis of the reinsurance segment in Spain and its growth prospects.
• 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 within the Spanish  life insurance segment
• Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment
• Identify the growth opportunities and market dynamics within key product categories
• Gain insights into key regulations governing the Spanish insurance industry and its impact on companies and the market's future

Key Highlights

• Compared to other European countries, the Spanish life insurance segment was only moderately affected by the global financial crisis, declining at a review-period CAGR of -0.7%, compared to the UK with a decline in CAGR of -3.9% and France’s decline of -2.4%.
• The demand for guaranteed-return products following the 2008 crisis supported the life insurance segment during the review period.
• However, after the sovereign debt crisis in Spain, the repayment of these products is posing a challenge for life insurers.
• Spain underwent major pension reforms, such as an increase in the number of contribution years to calculate pension benefits and a fixed rise in the annual pensions to regulate the pension category.
• Solvency II, the proposed new European regulatory framework for insurers, aims to change capital requirements in the insurance industry and introduce new risk management standards for insurers. The directive is expected to be implemented in January 2016.

Spanning over 282 pages, 170 tables and 201 figures “Life Insurance in Spain, Key Trends and Opportunities to 2017” report covering the Regional Market Dynamics, Life Insurance Segment – Regional Benchmarking, Spanish Insurance Industry Attractiveness, Life Insurance Outlook, Analysis by Distribution Channels, Porter’s Five Force Analysis – Spanish Life Insurance, Reinsurance Growth Dynamics and Challenges, Governance, Risk and Compliance, Competitive Landscape and Strategic Insights, Business Environment and Country Risk, Appendix. The report covering 10 companies- Vidacaixa, Santander Seguros, BBVA Seguros, Mapfre Vida, Ibercaja Vida, Grupo Caser, Generali Seguros, Allianz, Bansabadell Vida, Unicorp Vida

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