AM Best

Best’s Market Segment Report: AM Best Maintains Negative Outlook on Spain’s Non-Life Insurance Segment


Jose Berenguer, CFA
Senior Financial Analyst
+31 20 308 5429

Dr Mathilde Jakobsen
Senior Director, Analytics
+31 20 308 5427
Richard Banks
Director, Industry Research – EMEA
+44 20 7397 0322

Edem Kuenyehia
Director, Market Development & Communications
+44 20 7397 0280


LONDON - MAY 12, 2023 09:04 AM (EDT)
AM Best is maintaining its outlook for Spain’s non-life insurance segment at negative.

In its new Best’s Market Segment Report, “Market Segment Outlook: Spain Non-Life Insurance,” AM Best cites a number of factors supporting its negative outlook, including challenges to growth prospects deriving from economic uncertainty, and inflationary pressures affecting underwriting. At the same time, insurers face the potential for investment volatility. Unpredictable weather conditions also pose a challenge to the segment’s profitability.

However, AM Best recognises that Spain’s non-life segment has a good buffer to absorb some degree of economic volatility, noting that the risk-adjusted capitalisation of Spanish insurers is one of the strongest in Europe.

To access a complimentary copy of this market segment report, please visit .

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.