Forecast: Value Added of Insurance, Reinsurance and Pension Funding in Spain

Analyzing the value added of insurance, reinsurance, and pension funding in Spain between 2013 and 2028 reveals fluctuations, with a notable peak in 2018 and the lowest value in 2019. In 2023, it stood at 7.46 billion euros. Year-on-year variations showcase significant volatility: 2015 had a sharp decline of 17.28%, while 2016 saw a robust recovery of 30.37%. The compound annual growth rate (CAGR) over the last five years (2019-2023) shows an average decrease of 0.5% per year. The forecasted CAGR from 2024 to 2028 predicts a continued decline at an average annual rate of -0.5%, leading to an overall decrease of 2.47% over five years.

Future trends to watch for:

• Potential impacts of economic instability and regulatory changes on the insurance sector.
• Digital transformation in insurance, reinsurance, and pension funding, enhancing customer experience and operational efficiency.
• Growth in demand for more personalized insurance products and pension services driven by changing demographics and consumer preferences.
• Integration of sustainability and ESG factors within the strategic framework of insurance and pension funds.