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

During the review period (2008–2012), the Spanish non-life segment was adversely affected by recession. The segment declined at a review-period CAGR of -3.5%, but critically remained competitive. The segment’s combined ratio remained at 92.2% in 2012, lower than other European nations such as the UK and France which registered respective combined ratios of 103.4% and 106.6%.

Collectively, the motor and property insurance categories accounted for 93.1% of the segment’s gross written premiums in 2012. During the review period, both the life and non-life insurance segments registered negative growth due to the financial crisis. This affected the demand for motor insurance products, which registered a review-period CAGR of  4.7%. Property insurance posted a review-period CAGR of -0.5% on account of the nation’s weak property and construction markets. As the economy gradually recovers, an increase in disposable income and the implementation of Solvency II will support the non-life segment, which is projected to post a forecast-period (2012−2017) CAGR of 1.4% to value EUR23.0 billion (US$29.4 billion) in 2017. Recovery in the automobile market and rising awareness of cover against natural disasters is expected to increase demand for motor and property insurance.

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

• The Spanish non-life insurance segment’s growth prospects by non-life insurance categories
• Key trends and drivers for the non-life insurance segment
• The various distribution channels in the Spanish non-life insurance segment
• The detailed competitive landscape in the non-life insurance segment in Spain
• Regulatory policies of the Spanish insurance industry
• A description of the non-life reinsurance segment in Spain
• Porter's Five Forces analysis of the non-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 non-life insurance segment in Spain:

• It provides historical values for Spain’s non-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 categiories in Spain’s non-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 non-life insurance products in Spain.
• Using Porter’s industry-standard 'Five Forces' analysis, it details the competitive landscape in Spain for the non-life insurance segment.
• It provides a detailed analysis of the reinsurance segment in Spain and its growth prospects.
• It profiles the top non-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 non-life insurance segment and each category within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the Spanish non-life insurance segment
• Assess the competitive dynamics in the non-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:

• The Spanish non-life insurance segment declined at a review-period CAGR of -3.5%, but critically remained competitive.
• Following the global financial crisis in 2008–2009 and the European debt crisis of 2010–2011, smaller insurers may not be able to compete and will be forced to merge with larger insurers.
• Spain’s average premium per capita declined from EUR541.8 (US$793.6) in 2008 to EUR464.2 (US$596.8) in 2012, at a review-period CAGR of -3.8%.
• Mandatory civil liability insurance supplements third-party liability insurance.
• The volume of natural disasters during the review period increased the public’s awareness of the benefits of non-life insurance products, especially in the property insurance category.

Spanning over 280 pages, 176 tables and 196 figures “Life Insurance in Spain, Key Trends and Opportunities to 2017” report covering the Regional Market Dynamics, Non-Life Insurance Segment – Regional Benchmarking, Spanish Insurance Industry Attractiveness, Non-Life Insurance Outlook, Analysis by Distribution Channel, Porter’s Five Forces Analysis – Spanish Non-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- Mapfre Familiar, Segurcaixa Adeslas, Axa Seguros Generales, Allianz Seguros, Generali Seguros, Sanitas, Mutua, Madrileña, Santalucia, Zurich Insurance, Grupo Caser.

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