Santander and BBVA take their rivalry to insurance
The competitiveness between Santander and BBVA goes beyond banking production and moves to the insurance sector, where they have an open dispute to close the top ten of the largest policy distributors in Spain. As of June, the entity chaired by Ana Botín takes the lead, but the dispute promises to continue.
Santander Seguros and BBVA Seguros, the insurance divisions of Spanish banking giants Santander and BBVA, are competing to be among the top ten insurance distributors in Spain. As of June, Santander Seguros leads with 1,404 million euros in premiums, a 13.1% increase from June 2025, placing it in tenth position. BBVA Seguros is close behind in eleventh place with 1,355 million euros in premiums, a 5.8% increase from the same period last year.
Both banks have also formed alliances with other insurance companies, such as Santander's joint venture with Grupo Mapfre and BBVA's partnership with Allianz.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
