• The premiums of the sector grow thanks to the improvement of the economy and are already at levels similar to those of 2012
  • The supervisor processed more than 111,000 documents last year and answered 39,000 user queries

The General Directorate of Insurance and Pension Funds (DGSFP) has published its 2015 Sector Report, which includes the main data of the insurance market and pension plans obtained from the information provided by the entities. In addition, the report includes a detailed study of the different functions developed by the DGSFP, the activities of collaboration and participation in the different international forums and an analysis of the national and international regulatory framework of the insurance market.

During 2015, the insurance and pension plan sector has continued to demonstrate its strength. There has been a recovery in the volume of premiums that are already at levels similar to those of 2012, with an increase of 1.89% compared to 2014, after a series of years of decline. This recovery is more pronounced for the Life sector, with an increase of 1.86% in year-on-year terms after the fall of -2.29% recorded the previous year. In the Non-Life sector, the volume of premiums has also increased, from 1.14% in 2014 to 1.91% in 2015.

In relation to the investments of insurers, the trend of progressive reduction of the weight of private fixed income in favor of public fixed income continues, this effect being accentuated in the life sector.

In the sector of pension plans and funds, during 2015 the process of decreasing the number of management entities (82 versus 84) and depository entities (47 versus 51), as well as the number of pension plans (2,857 versus 2,914). Also in this year the number of pension funds has been reduced from 1,716 in 2014 to 1,688 in 2015.

Regarding the degree of development of pension plans and funds, it should be noted that the growth of managed assets continues, which reached 104,000 million euros in 2015 (increase of 3.28%) as a result of the improvement of financial markets and the economy in general. The contributions to pension plans have decreased (-3.85% compared to 2014) while the benefits paid continue with the trend of increase of the previous year (9.73%).

Finally, the work of the DGSFP has been intense in 2015. More than 111,000 documents have been processed and more than 39,000 calls received by the call center which is available for inquiries and complaints from citizens. In the past year, more than 10,000 claims against insurance, mediators and pension plan managers have been submitted to the General Directorate of Insurance and Pension Funds.

See the full report at:

http://www.dgsfp.mineco.es/sector/informesdelsector.asp



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