Life insurance sector market penetration rate in Spain 2005-2023
The market penetration ratio for life insurance in Spain fluctuated significantly between 2005 and 2023. After reaching a peak of 2.8 percent in 2016, the life insurance market penetration rate declined considerably until 2022. By 2023, the market penetration rate rose to 2.28 percent, reversing the negative trend observed since 2016.