Best's Market Segment Report: AM Best Revises Outlook on Spain’s Life Insurance Segment to Stable
May 17 2024 - 3:00AM
Business Wire
AM Best is revising its market segment outlook on Spain’s
life insurance segment to stable from negative.
In its new Best’s Market Segment Report, “Market Segment
Outlook: Spain Life Insurance”, AM Best notes that the segment’s
growth is supported by the higher interest rate environment, which
is expected to continue at least in the medium term.
The report also notes that while the segment’s profitability
levels are expected to remain healthy, benefiting mainly from
higher returns on insurer’s own portfolios, potential volatility in
financial markets could impact the segment’s results at any given
time.
On the other hand, the spike in production of guaranteed savings
products is generally well managed by the segment from a risk
perspective and has not had a detrimental impact on capital light
products, as unit-linked products continued growing in 2023.
AM Best notes that insurers will need to navigate this new
environment with the objective of maintaining a well-balanced
business mix, which will be a challenge considering that strong
demand for guaranteed savings products is expected to continue in
coming years.
To access a complimentary copy of this market segment report,
please visit
http://www3.ambest.com/bestweek/purchase.asp?record_code=342962.
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. For more information,
visit www.ambest.com.
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Jose Berenguer Associate Director, Analytics +31 20 808
2276 jose.berenguer@ambest.com Juan Villaescusa Financial
Analyst +31 20 808 1162 juan.villaescusa@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