Business · Companies · 2 hrs ago
CaixaBank, Santander and Ibercaja expand their insurance businesses
CaixaBank, Santander and Ibercaja sharply increased insurance premiums in the first nine months of the year in Spain.
The growth was led by life insurance products that help customers save over time.
Higher interest rates made these savings policies more profitable to offer, while insurance premiums across the sector rose by an average of 16.89%.
CaixaBank’s premiums reached €11.023 billion, up 44.5%, and its VidaCaixa unit held 15% of the Spanish market.
Santander’s premiums rose 32.65% to €2.204 billion, while Ibercaja’s grew 31.6% to €1.051 billion.
The gains contrast with Sabadell Vida, whose premiums fell 31.4%, to €2.387 billion.
The figures cover the first nine months; no further steps are stated.
CaixaBank, Santander and Ibercaja sharply increased insurance premiums in the first nine months of 2026, helped by higher interest rates.
CaixaBank’s premiums rose 44.5% to €11.023 billion, the biggest increase among Spain’s 15 largest insurers.
Santander’s premiums rose 32.65% to €2.204 billion, while Ibercaja’s rose 31.6% to €1.051 billion.
The sector’s premiums grew 16.89% over the same period, according to Icea.
The higher interest rates improved the returns offered by savings life insurance products.
- Who
- CaixaBank, Santander and Ibercaja.
- What
- The three banks increased their insurance premiums. Their growth was driven mainly by savings life insurance.
- When
- The first nine months of 2026.
- Where
- Spain.
- Why
- Higher interest rates improved the returns offered by savings life insurance products.
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- CaixaBank premiums
- €11.023 billion, up 44.5%
- Santander premiums
- €2.204 billion, up 32.65%
- Ibercaja premiums
- €1.051 billion, up 31.6%
- Sector growth
- 16.89% in the first nine months of 2026
- CaixaBank market share
- VidaCaixa held 15% of the Spanish market