The market penetration ratio for life insurance in Spain fluctuated significantly between 2005 and 2023. After reaching a peak of 2.8 percent in 2016, the life insurance market penetration rate declined considerably until 2022. By 2023, the market penetration rate rose to 2.28 percent, reversing the negative trend observed since 2016.
Market penetration rate in the life insurance sector in Spain from 2005 to 2023
Characteristic
Penetration rate
2023
2.28%
2022
1.82%
2021
1.93%
2020
1.95%
2019
2.21%
2018
2.41%
2017
2.53%
2016
2.8%
2015
2.37%
2014
2.41%
2013
2.5%
2012
2.55%
2011
2.71%
1.8%2%2.2%2.4%2.6%2.8%3%
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Mapfre. (September 23, 2024). Market penetration rate in the life insurance sector in Spain from 2005 to 2023 [Graph]. In Statista. Retrieved May 05, 2025, from https://www.statista.com/statistics/772816/penetration-in-he-sector-insurer-from-lifetime-in-spain/
Mapfre. "Market penetration rate in the life insurance sector in Spain from 2005 to 2023." Chart. September 23, 2024. Statista. Accessed May 05, 2025. https://www.statista.com/statistics/772816/penetration-in-he-sector-insurer-from-lifetime-in-spain/
Mapfre. (2024). Market penetration rate in the life insurance sector in Spain from 2005 to 2023. Statista. Statista Inc.. Accessed: May 05, 2025. https://www.statista.com/statistics/772816/penetration-in-he-sector-insurer-from-lifetime-in-spain/
Mapfre. "Market Penetration Rate in The Life Insurance Sector in Spain from 2005 to 2023." Statista, Statista Inc., 23 Sep 2024, https://www.statista.com/statistics/772816/penetration-in-he-sector-insurer-from-lifetime-in-spain/
Mapfre, Market penetration rate in the life insurance sector in Spain from 2005 to 2023 Statista, https://www.statista.com/statistics/772816/penetration-in-he-sector-insurer-from-lifetime-in-spain/ (last visited May 05, 2025)
Market penetration rate in the life insurance sector in Spain from 2005 to 2023 [Graph], Mapfre, September 23, 2024. [Online]. Available: https://www.statista.com/statistics/772816/penetration-in-he-sector-insurer-from-lifetime-in-spain/
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