Non-life insurance drives growth in Spain

Mutuals and commercial insurers recorded combined premium income of €56bn, up 3.3%, in 2007 according to Mapfre

The Spanish insurance market grew by 3.1% last year to €53.97bn (US$78.04bn), according to figures published by Fundacion Mapfre, the nonprofit making shareholder of the demutualised insurance group. This included €30.96bn ($44.77bn) of non-life business (up 5.1% on the year), and €23.01bn ($33.27bn) of life business (up 0.4% on the year).