The Spanish insurance sector won 5,456 million of euros in 2023, a 1.3% less than the previous year, according to ICEA data. Most of the benefit came from technical result of the Life branch, which earned 3,245 million, 2.4% more. It was also important 52.5% increase in the operating result of Health insurance, which totaled 934 million. The Non-Life, Non-Auto and Non-Multi-risk lines also performed well, earning 1.8 billion, 10.7% more.
On the other side of the coin, total collapse of Autos’ technical resultwhich only earned 170 million, a 66.6% less than in 2022. And The results of Multirisks were also badwhich fell 12.2%, to 349 million.
The result of the non-technical sector account fell to 7.6% of the retained business, compared to 9.1% the previous year.
Strong rise in accidents
The deterioration of sectoral results was due to the sharp increase in accidents, which in Autos rose three and a half points, until representing the 80.2% of premiums. In Multirriesgosalso rose a little more than 3 points, until the 66,3%. The Health accident rate improved a few tenths, to 79.2%, and in the rest of the Non-Life lines it increased by one point, to 49.5%.
2024-02-21 11:07:49
#Spanish #insurance #earned #million #previous #year #Seguros #News
