ECONOMICS & INSURANCE

In this new edition of Economics and Insurance magazine, we highlight five articles that address key current topics: from the evolution of the insurance markets in Spain and Latin America in 2023, to major demographic trends and changes in the population structure. Then, we delve into the global savings landscape, examining the pivotal role of the insurance industry as a key manager of these assets. We conclude with a comprehensive analysis of geopolitical risks and their implications on the global order.

The summary of the report The Spanish Insurance Market in 2023, in the first article, offers an analysis of the performance and future outlook of the insurance sector in Spain. It provides both a short-term and medium-term structural perspective, illustrating a landscape characterized by robust economic growth and controlled inflation, which have collectively driven an increase in the volume of insurance premiums.

Meanwhile, the article The Latin American Insurance Market in 2023 (Spanish) demonstrates how the strong performance of the insurance industry in 2023 led to a real increase in premiums across nearly all of its markets. It also provides a review of the key metrics of the region’s insurance markets, as well as the most significant structural trends, such as penetration, density, insurance depth, and the coverage gap.

The third article, Savings and Insurance Industry Investments: An Update,  provides an overview of the distribution and risk profile of insurance companies’ investment portfolios, exploring their categories and the impact on their management as institutional investors.

The fourth article, The Impact of Demographics on the Insurance Industry, highlights key demographic trends currently shaping the landscape, including the ongoing decline in fertility and mortality rates, as well as rising life expectancy. These factors are contributing to a shift toward populations with a growing proportion of individuals in retirement age, presenting both challenges and opportunities for the insurance sector. This is a summary of our study Demographics: An Analysis of Their Impact on the Insurance Industry.

Finally, in the fifth article, we have a special collaboration from Julio Burdman, who, in  Contemporary Geopolitical Order and Risk: A Methodological Reflection from Ibero-America, analyzes the transformations in the global geopolitical order. He highlights how the intensification of geoeconomic competition between powers and the rise of nationalism in major players like the United States and Europe are shaping new models of sovereignty in this context of growing uncertainty.

We hope this latest edition of our magazine captures our readers’ interest and provides them with an updated and in-depth perspective on the challenges and opportunities facing the insurance industry in an ever-changing world.