The insurers' income from the sale of policies at the end of 2019 amounted to 64,155 million euros, 0.42% less than a year ago. Of this amount, 36,629 million euros corresponded to the branch of non-life and the remaining 27,526 million to life, as shown by the provisional data collected by Cooperative Investigation of Insurance Entities (ICEA).
The turnover of the non-life branch increased by 3.39% in year-on-year terms. The improvement of this activity is based on the pull of all business lines, with special mention of health and multi-risk policies. The health insurance item picked up 4.77%, to 8,923 million. While, insurance that protects real estate (whether housing, shops, industries or neighborhood communities) grew by 3.96%, to 7,521 million. The so-called "various insurance" and the automobile industry also had an outstanding performance.
The first insurance group increased its annual turnover by 3.95%, almost the same as multi-risks, to 8,879 million. Under the term "various insurance" are the protections most linked to economic activity. The car business increased its income by another 1.52%, to 11,307 million, and it is still the activity that reports more revenue in the entire non-life block.
The turnover of the life business, reflected in premium income, decreased 5.06% during the year. This has not prevented, however, that the savings managed in life insurance products, measured through technical provisions, reached 194,685 million euros at the end of 2019. This amount represents an interannual increase of 3.30%, according to ICEA estimates.
