Best's Market Segment Report: AM Best Revises Outlook to Negative for Spain’s Non-Life Insurance Market
AM Best is revising its outlook for the Spanish non-life insurance segment to negative from stable.
There has historically been a direct relationship between Spain’s real gross domestic product (GDP) development and non-life premium growth in the country. In recent years, sustained economic growth has supported the development of the non-life insurance segment.
However, a new Best’s Market Segment Report, “Market Segment Outlook:
In addition to the potential emergence of COVID-19 variants, the threat of further inflation and supply chain disruption following Russia’s invasion of
Moderating these negatives are the segment's good underwriting fundamentals: Spain’s non-life insurance segment benefits from strong underlying technical performance and has been resilient through past challenging macroeconomic conditions. It is also one of the most profitable non-life segments in
AM Best notes that the segment’s good underlying fundamentals provide a buffer to absorb some volatility from both increased climate risk and inflation.
To access a complimentary copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=319066.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in
Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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Source: AM Best
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