Spanish insurers H1 2026 performance

In the first half of 2026, Spanish insurance groups reported strong financial results. Mapfre posted a 9.4% increase in net profit to €624 million, with revenue modestly up 1.5% and policy volume rising 1.1%. Profit in the Iberian Peninsula grew 16.6% to €279 million, though the value of policies there slipped slightly. The company warned that an earthquake in Venezuela would cost at least €24.8 million and noted losses from recent storms in Portugal and Spain. Mapfre projected a record net profit of €1.079 billion for 2025.

Meanwhile, Avanza Previsión recorded a 26% jump in life‑insurance premiums, reaching over €115 million, far outpacing the sector average of about 10%. Technical provisions rose 26.39% to €413 million, and managed savings exceeded €230 billion, reflecting robust demand for combined security‑return products. The insurer highlighted Spain’s solid economic growth, persistent inflation, and high‑interest‑rate environment as both opportunities and challenges for the second half of the year.