OLDWICK, N.J.--(BUSINESS WIRE)--This A.M.BestTV episode spotlights A.M. Best Financial Analyst Pablo Vasquez, who discusses a recent Best Special Report on Spain’s insurance industry. Click on http://www.ambest.com/v.asp?v=spain1215 to view the entire program.
Spain’s insurance market has continued to show its resilience with companies focusing on profitability as the country’s economy shows further signs of recovery.
“The Spanish insurance sector is very traditional, and the business in Spain is based on traditional roots and sticking to the basics,” said Vasquez. “Insurers have been able to maintain profitable margins as they have invested in enhancing productivity. Spanish insurers like assets that are familiar to them and with the market environment having extremely low yields, insurers are facing pressures on their bottom lines, so they are trying to increase their investment incomes.”
In 2016, the automobile industry’s new rules regarding personal injury claims will take effect, and Vasquez regards these new rules as a positive for the market. Vasquez believes these new rules will bring Spain’s automobile insurance market closer to European standards; reduce the uncertainty on large claims; and although premiums will increase, the increase will be tempered by the competitive market conditions in Spain.
For the full copy of this special report, titled, “Sticking to the Basics Ensures Resilience of the Spanish Insurance Sector,” please visit http://www3.ambest.com/bestweek/purchase.asp?altsrc=108&record_code=242745.
Recent episodes of A.M.BestTV include:
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A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.
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