What are the largest insurers in Spain?
Within the world of
insurance companies, the competition to develop the best possible products and
services translates into a constant struggle to respond to new customer requirements.
Winning and, therefore, growing in such a competitive market, depends on being
aware of these changes and responding to them efficiently. If the homework is
done well, the prize will not be long in coming.
To chart the evolution of the insurance market
in Spain, at Acierto.com we want to share a report with the top 10 insurers in
Spain by turnover. In it, he realizes an irrefutable reality: achieving growth
and competitiveness objectives will depend on decision makers constantly
testing their ability to react to changes. The needs of customers mutate with
dizzying speed and demand satisfactory answers. In this context, whoever does
not demonstrate sufficient adaptability will be giving ground to their
competition.
The needs of customers mutate with dizzying
speed and demand satisfactory answers.
The largest insurers in Spain
The results that have
been obtained for each group include that of the insurers that make up each of
said groups. For example, those of Vertie are incorporated into those of MAPFRE
since it is part of the latter; the same is the case with Adesola’s, which
belongs to Mutua Madrilene, and with Fenix, which is owned by Allianz.
When drawing up the
ranking, it has been important not to overlook the internal change experienced
by these groups compared to the same period in 2015. Specifically, in relation
to the ownership of the insurers that shape the conglomerates.
This element is of
absolute relevance for the final result of the study, since it determines the
variation in the market volume and the billing of the different insurers during
January and June of last year, compared to what they have obtained during the
same period of 2016. On the other hand, other of the main parameters that have
been taken into account to prepare the ranking are: Written premiums (euros)
and Market Share.
Do you want to know
which is the top 10 insurers? Take note:
Insurance Group: Vida
Caixa
Its headquarters are
in Barcelona and it has CaixaBank as its sole shareholder. It is the entity
that manages the insurance sales and mediation operations of the La Caixa
group.
Written premiums
(euros): 4,555,485,821.28
Market share: 13.87%
Insurance Group:
MAPFRE Group
It is one of the most
powerful in the Spanish market. It is present in the markets of 49 countries.
It owns Global Risks, a company dedicated to the management of global insurance
programs.
Written premiums
(euros): 3,537,123,722.58
Market share: 10.77%
Insurance Group:
Zurich Insurance Group
It is the largest
insurance group in Switzerland. It is structured around three business lines:
General Insurance, Global Life and Farmers. It has a presence in more than 170
countries.
Written premiums
(euros): 2,582,515,421.38
Market share: 7.86%
Insurance Group:
Mutua MadrileΓ±a Group
It is a mutual
insurance company, so it is not for profit. It was founded in 1930 and
currently its customer base is more than 10 million people.
Written premiums
(euros): 2,441,383,707.17
Market share: 7.43%
Insurance Group:
Allianz
Of German origin, its operations are carried
out in more than 70 countries. It has more than 70 million customers, spread
over five continents.
Written premiums
(euros): 1,904,605,395.77
Market share: 5.80%
Insurance Group:
Grupo Catalana Occidente
It was founded in
1864. Its headquarters are in San Cugat del VallΓ©s, in Barcelona. It has
offices in more than 50 countries and is the 2nd worldwide when it comes to
credit insurance.
Written premiums
(euros): 1,496,626,228.00
Market share: 4.56%
Insurance Group: Axa
Group
Company of French
origin, it was created in 1917. Its headquarters are in the VIII District of
Paris. It is one of the largest insurers in the world.
Written premiums
(euros): 1,455,306,117.26
Market share: 4.43%
Insurance Group: Generali
Of Italian origin, its
name is Grupo Assicurazioni Generali. It is the second insurance group in the
world.
Written premiums
(euros): 1,309,224,699.45
Market share: 3.99%
Insurance Group: BBVA
Seguros
Strictly speaking, it
is an Insurance and Reinsurance company. It belongs to Banco Bilbao Vizcaya
Argentaria.
Written premiums
(euros): 1,099,627,525.68
Market share: 3.35%
Insurance Group:
Caser
It belongs to the
Caser Group. It has some 12,000 points of sale and more than 2,200 professional
mediators.
Written premiums
(euros): 801,407,372.37
Market share: 2.44%
