Studies

Estudios

The analysis and research work of MAPFRE Economic Research focuses on topics related to insurance and complementary social security, macroeconomic and financial variables and regulatory frameworks. With the aim to foster analysis, different types of reports will be produced:

Reports related to research projects carried out by MAPFRE Economic Research. These are reports of a technical nature whose aim is to share ideas on different topics related to the economy, the financial system and the insurance sector.

Insurance industry investment: an analysis of the placement of insurance industry investment in selected markets

Inversiones del sector asegurador

This report analyzes the dimension and role of the insurance sector as a relevant and stable investor for financing economies. In order to have a representative group of markets, the kinds of assets insurers invest in, in what proportions, and the variations thereof in the last decade have been studied. It is shown how investment decisions depend in large part on the need for asset and liability matching, on capital charges from solvency regimes and on their intrinsic risk.


Insurance industry investment (English)
Insurance industry investment (Spanish)

Insurance solvency regulation systems

Regímenes de regulación de solvencia en seguros

Insurers and their groups are entities that, without exception, due to the key role they play in the workings of the financial system and of economic activity in general, are subject to systems of prudent regulation. In this context, the recent financial crises have opened a process of progressive and asymmetric convergence towards risk-based regulations on a global scale. This study analyzes the progress of this process, and the complexity associated with it, taking into account the outlook in large, mature markets like the United States and the Eurozone, as well as in other emerging markets like Latin America and Asia-Pacific. This report also deals with the efforts the International Association of Insurance Supervisors (IAIS) is making in the development of globally consistent supervision frameworks for large international insurance groups.

Insurance solvency regulation systems (English)
Insurance solvency regulation systems (Spanish)
Insurance solvency regulation systems (English) (ePub)
Insurance solvency regulation systems (Spanish) (ePub)

Pension Systems

Sistemas de pensiones

The main objective of this research is to help diagnose one of the most important pillars of today’s social organization, pension systems, by emphasizing the risks which they are exposed to and identifying the elements that can contribute to their long-term sustainability and stability.


Pension Systems (English)
Pension Systems (Spanish)
Pension Systems (English) (ePub)
Pension Systems (Spanish) (ePub)

Elements for the expansion of insurance in Latin America

Elementos para la expansión del seguro en América Latina

The main objective of this study is to analyze the key determinants of the level of insurance penetration in Latin America, in order to outline the general lines that could be considered in the design of public policies whose aim is to increase their penetration in the economies of the region. Thus, the conceptual framework used in the preparation of this work has been focused on the analysis of the main factors that can boost the penetration level (premiums / GDP) from the point of view both of the offer (factors that affect the creation of insurance services), as well as the demand (factors that explain the intensity of consumption of those services).


Elements for the expansion of insurance in Latin America (English)
Elements for the expansion of insurance in Latin America (Spanish)
Elements for the expansion of insurance in Latin America (English) (ePub)
Elements for the expansion of insurance in Latin America (Spanish) (ePub)