Insurance industry and country risk assessment: Spain life

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<rdf:Description>
<dc:creator>S&P Global Ratings</dc:creator>
<dc:creator>Standard & Poor's Financial Services LLC</dc:creator>
<dc:date>2026</dc:date>
<dc:description xml:lang="es">Sumario: S&P Global Ratings assesses the Spanish life insurance sector's industry and country risk as supportive, expecting strong profitability to continue. Return on assets was about 1.25% in 2025 and is projected to decline only marginally in 20262027 amid average interest rates slightly above 3%. Higher rates support margins on guaranteed products and have spurred demand for savings and protection policies, with GPW rebounding 23% in 2025 and forecast to grow 2%3% in 20262027. The market benefits from strict assetliability matching, lowering interestrate and surrender risks. Governance is robust under the Dirección General de Seguros y Fondos de Pensiones and Solvency II, with ongoing integration of AI and data governance. Capitalization remains strong, with a sector Solvency II ratio near 240% (Sep. 2025). Despite progress, limited tax incentives constrain market development.</dc:description>
<dc:identifier>https://documentacion.fundacionmapfre.org/documentacion/publico/es/bib/191062.do</dc:identifier>
<dc:language>eng</dc:language>
<dc:publisher>Standard & Poor's Financial Services LLC</dc:publisher>
<dc:rights xml:lang="es">InC - http://rightsstatements.org/vocab/InC/1.0/</dc:rights>
<dc:subject xml:lang="es">Mercado de seguros</dc:subject>
<dc:subject xml:lang="es">Gerencia de riesgos</dc:subject>
<dc:subject xml:lang="es">Perspectivas del seguro</dc:subject>
<dc:subject xml:lang="es">Tipos de interés</dc:subject>
<dc:subject xml:lang="es">Primas</dc:subject>
<dc:subject xml:lang="es">España</dc:subject>
<dc:type xml:lang="es">Books</dc:type>
<dc:title xml:lang="es">Insurance industry and country risk assessment: Spain life</dc:title>
<dc:format xml:lang="es">4 p.</dc:format>
<dc:coverage xml:lang="es">España</dc:coverage>
<dc:description xml:lang="es">Current interest rates spur premium growth -- We expect profitability will remain robust -- Spain life: Forecast summary -- Related Criteria -- Related Research</dc:description>
</rdf:Description>
</rdf:RDF>