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APRIL 20, 2021 11:43 AM (EDT)

Best's Market Segment Report: AM Best Maintains Stable Outlook on Spain's Non-Life Insurance Segment


CONTACTS:
 Giannina Carbajal Ortiz
Financial Analyst
+31 20 308 5428
giannina.carbajal@ambest.com

Victoria Ohorodnyk
Associate Director
+31 20 308 5432
victoria.ohorodnyk@ambest.com

Richard Banks
Director, Industry Research – EMEA
+44 20 7397 0322
richard.banks@ambest.com

Edem Kuenyehia
Director, Market Development & Communications
+44 20 7397 0280
edem.kuenyehia@ambest.com

FOR IMMEDIATE RELEASE

AMSTERDAM - APRIL 20, 2021 11:43 AM (EDT)
AM Best has maintained its stable market segment outlook on the Spanish non-life insurance segment. Key supporting factors include an expected recovery in premium growth, continued strong and stable underwriting performance, due to limited exposure to catastrophe and COVID-19 losses, and strong risk-adjusted capitalisation.

A new Best’s Market Segment Report, “Market Segment Outlook: Spain Non-Life Insurance”, states that despite the uncertainty and volatility caused by the pandemic, the performance of this segment has remained resilient. Insurers have produced consistently solid underwriting results despite competitive market conditions, a turbulent political landscape and economic disruption following the outbreak of COVID-19. In the near term, AM Best expects insurers to maintain underwriting discipline and report strong technical results, despite the challenges posed by the economic downturn.

To access a complimentary copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=307814 .

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.