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Madrid, Feb 9 (.) .- Insurers operating in Spain managed 242,388 million of their clients at the end of 2020, which not only managed to maintain the savings under their responsibility in the middle of the pandemic but also grew 0.61% compared to the previous year, according to ICEA data published this Tuesday by the Unespa employer.
Of that amount, 194,110 million were life insurance products, 0.35% less in the interannual rate, while the remaining 48,278 million correspond to the equity of the pension plans managed by insurers, which increased by 4.57% .
Unit-linked insurance, those in which the policyholder assumes the investment risk, were the products that grew the most, by 12.5%, to 16,016 million euros.
The following are the individual long-term savings insurance (Sialp), known as Savings Plans 5 because the profits are exempt from tax if the participant maintains his investment for five years, which moved 4,397 million at the end of 2020, a 1, 70% more.
Individual systematic savings plans (PIAS) remained stable and ended at 14,441 million, 0.16% less.
Unespa explains in a statement that the paralysis of economic activity due to the coronavirus pandemic and a prolonged situation of low interest rates have been felt in the evolution of the life business.
Many business lines have reduced savings under management in 2020. The decreases have occurred in the transformation of assets into annuities (-6.83%), in deferred capital (-2.61%), in plans of pension insurance policy (-1.95%), as well as life and temporary annuities (-1%).
Premium income from the life-risk business stood at 4,840 million euros, practically the same as a year ago.
Regarding the classification of insurers by their volume of provisions, VidaCaixa ranked first, with 58,810 million, 3.79% more and a market share of 29.27%.
He then stood Mapfre (MC :), with 16,972 million, 3.55% less and a share of 8.74%, followed by Santander (MC 🙂 Seguros, which accumulated 13,648 million (-8.17%, and 7.03% share) and BBVA (MC 🙂 Seguros, with 12,089 million (-5.61% and a 6.23% share).
In fifth position is Zurich, with 10,224 million in provisions, 2.61% less and a share of 5.27%.
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