Spain Insurance Report - Q2 2025

Abstract

The prospects for Spain’s insurance industry – particularly the life insurance market – are bright over the medium term. The affluence of households and their high savings capacity mean that affordability is not an issue and life insurance is increasingly being incorporated into retirement planning portfolios to plug gaps in the state pension programme. Issues in the public healthcare system are driving uptake of private health and personal accident insurance. A benign macroeconomic backdrop will stimulate business investment and private consumption, underpinning insurance demand from both businesses and individuals.