The Spanish insurance sector is ending 2025 in better shape: profitable, well-capitalised and back to growth after a temporary 2024 slowdown. This report shows how the Spanish insurance sector is combining cyclical recovery with deep digital, regulatory and climate-related change.
Non-life premiums are expanding strongly while life business rebounds, keeping the Spanish insurance sector’s weight in GDP high and solvency ratios comfortably above Solvency II requirements. Profitability is supported by a sub-100% combined ratio, high-quality fixed-income portfolios and rising returns on equity, even as catastrophe losses and inflation put pressure on claims.
Around eight in ten insurers now use AI across underwriting, pricing and claims, while new cyber rules (NIS2, DORA, EU AI Act) push the Spanish insurance sector to strengthen resilience and governance. At the same time, climate risk, a growing cyber insurance exposure and a persistent trust gap with households mean the Spanish insurance sector must defend margins while rebuilding perceived value. This report will show how IT plays a vital role in the insurance sector’s transformation.
Recommended advisory: PAC Leadership Session – Financial Services Industry – AI Adoption
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