Decoding (Re)Insurance Regulations in Spain: What You Need to Know

The Spanish insurance and reinsurance sector is governed by a robust regulatory framework, ensuring financial stability and consumer protection.

Our Chapter of the 2025 edition of the ICLG Insurance & Reinsurance Spain provides an in-depth guide to insurance regulations in Spain, covering everything from regulatory bodies, litigation procedures, arbitration, and emerging trends.

Key Highlights:

• Regulatory Oversight: The General Directorate of Insurance and Pension Funds (DGSFP) is the primary regulatory body overseeing the sector.
• Setting Up a (Re)Insurance Company: Detailed requirements, including legal forms, capital requirements, and governance obligations.
• Foreign Insurers' Access: Guidelines for non-EU and EU-based insurers looking to operate in Spain.
• Legal Framework for Contracts: Essential terms and obligations imposed by Spanish insurance law.
• Claims and Litigation: Rights of third parties, subrogation rules, and court procedures in insurance disputes plus an update on new legislation coming into effect in April 2025.
• Arbitration: Court’s approach, arbitration clauses, interim forms of relief, right of appeal.
• Hot Topics: The growing impact of AI, climate change, cyber risks, and the rise of embedded insurance in Spain.

This information was originally published in the Spain Insurance and Reinsurance chapter of the 2025 International Comparative Legal Guide (ICLG).