MAY 12, 2023 09:05 AM (EDT)
Best’s Market Segment Report: AM Best Maintains Negative Outlook on Spain’s 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
Director, Market Development & Communications
+44 20 7397 0280
FOR IMMEDIATE RELEASE
LONDON - MAY 12, 2023 09:05 AM (EDT)
AM Best is maintaining its outlook for Spain’s life insurance segment at negative.
In its new Best’s Market Segment Report, “Market Segment Outlook: Spain Life Insurance,” AM Best cites a number of factors supporting its negative outlook, including economic uncertainty, which presents a challenge to premium growth, and the need for insurers to navigate rising inflation and hikes in interest rates.
However, AM Best notes that despite the economic situation Spanish life insurers have continued to report healthy profits over recent years. Spain’s life segment has also seen a shift toward capital-light products, which AM Best views positively.
To access a complimentary copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=331527 .
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.