Insurers with nowhere to go : most Spanish insurers are too small to compete internationally, and their home market is becoming increasingly tough

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<title>Insurers with nowhere to go</title>
<subTitle>: most Spanish insurers are too small to compete internationally, and their home market is becoming increasingly tough</subTitle>
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<name type="personal" usage="primary" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080065515">
<namePart>Clark, Janina</namePart>
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<dateIssued encoding="marc">1999</dateIssued>
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<abstract displayLabel="Summary">The legal change and the intensification of already strong competition as Spain embraces European Monetary Union create the very real possibility that some of the small and medium-sized Spanish companies could be forced out of business. Total premiums for the top 10 insurance groups exceeded P1500bn in 1997, an increase of 8% over 1996. MAPFRE is the dominant force in Spanish reinsurance: MAPFRE RE and its subsidiaries achieved consolidated premiums of P81 847m in 1997, an increase of 13% on the previous year. The fragmented nature of the domestic market has limited the opportunities for overseas expansion for Spain's insurers and MAPFRE is the only Spanish insurer to have truly made a mark on the international insurance scene: last year MAPFRE reorganised its overseas arm, MAPFRE International, to form MAPFRE America and MAPFRE America Vida to look after its Latin American non-life and life interests respectively, and MAPFRE Exterior to oversee the group's non-Latin American interests. Tables: Spanish premiums by line of business 1997; Spanish premium growth; top 10 insurance groups in Spain-non life; top 10 insurance groups in Spain life; MAPFRE in Latin America</abstract>
<note type="statement of responsibility">Janina Clark</note>
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<namePart>MAPFRE RE, Compañía de Reaseguros S.A.</namePart>
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<namePart>MAPFRE América</namePart>
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<topic>Mercado de seguros</topic>
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<topic>Empresas de seguros</topic>
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<topic>España</topic>
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<topic>Reaseguro</topic>
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<topic>Internacionalización del seguro</topic>
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<title>En: Reinsurance</title>
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<publisher>London</publisher>
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<part>
<text>Mars 1999 ;  2 h.  </text>
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