Estandard & Poor´s: “The situation of the Spanish Insurance Sector is more positive compared with previous year and it is stable”

In a meeting held on November 13th in Madrid the specialized press, the agency remarked the stability of the Spanish insurers with a stable perspective . The rating for insurers is between two or three steps below the situation on the year 2010 due to Sovereign Risk registered in these years. Nevertheless, this decrease in rating is more moderate compared with Bank Sector or even the Sovereign Debt. According to Peter McClean, Insurance Director for S&P,  the Insurance Sector has survived very well on this crisis.

For the year 2015, S&P anticipated a growth of 1%-2% in Non-Life and a return of growth for Life Insurance. The Insurance sector will remain profitable besides the pressure in Life Insurance due to the low interest rate. This low interest will be compensated with positive returns on investments.