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.