Spain Insurance Report - August 2025

Abstract

Spain's economy is highly developed, currently experiencing robust growth and outperforming many European counterparts, which will underpin growth in the insurance industry. Following several years of volatility, life insurance premiums will maintain a stable and sustainable growth trajectory from 2025 onwards. A benign macroeconomic backdrop will stimulate business investment and private consumption, underpinning insurance demand from businesses and individuals. Issues in the public healthcare system are driving uptake of private health and personal accident insurance in the non-life subsector.