Near to 97% of auto insurance premiums in Spain it is found in the hands of 20 insurance groups at the end of September 2023. Tops the classification Mapfre Groupwith 1,704 million in premiums, which grew by 5.14%, with a market share of 18.91%.
The industry is very concentrated, since The first 5 groups hold 62.32% of the business; and the first 10, 85.29% of the premiums.
Those who grow the most
Within the top 20 insurance groups, the one that grew the most in the first three quarters of 2023 is Toyota Insurance, which advances 50.15%, to 36.6 million. Next, Admiral grows 15.25%, up to 94.2 million; Pelayo11.61%, up to 222.7 million; Friend Aro, 11.29%, up to 53 million; and Helvetia9.11%, up to 258.3 million.
It should be noted that a good part of the growth of Auto insurers this year comes from rate increases to its policyholders, to try to compensate for the strong impact of inflation on claim costs.
2023-11-03 05:06:13
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