Nueva etapa en el pacto de bancaseguros con la suiza Zurich

Sabadell and Zurich have revived their partnership to expand the insurance business after a failed takeover attempt by BBVA. The new phase of collaboration began with a boost from the insurance alliance between the two firms. The partners, who joined forces to counteract BBVA's hostile offer, introduced a new strategy focused on strengthening their product portfolio with higher-value offerings, as stated by the bank.

Sabadell has incorporated this roadmap into its Group Strategy Plan for 2025-2027, positioning the insurance business as one of its primary growth avenues. Zurich Insurance, the Swiss group's parent company, holds a 4.95% stake in Sabadell. The Swiss firm acquired a 3% stake in the bank five months after BBVA launched its takeover bid in May 2024.

Since then, Zurich's ownership in Sabadell has steadily increased to 4.95% in September 2025, shortly before the failed takeover. The Swiss insurer had much to stake in the outcome of the takeover, as it would have been excluded from the agreement with Sabadell if BBVA had succeeded. Such alliances are typically formed to ensure the insurer sells its policies exclusively through the allied bank's network.

This exclusivity would have been unattainable if Sabadell had merged with BBVA, which has Allianz as its banking insurance partner, potentially expanding its agreement to incorporate Zurich's business. The bank- insurer partnership propelled Sabadell's business by 122.7% in 2025, reaching 4,140 million euros in premiums captured by its joint venture, Bansabadell Vida.

This growth allowed Zurich to rise to the fourth position in the rankings by premiums since its eighth-place ranking in 2024, after a 15% decline in 2024 due to a 28% reduction in Bansabadell Vida's premiums. During the first half of 2026, Bansabadell Vida's premiums fell by 22% to 1,671 million euros. Zurich Vida had a net result of 136 million euros in the previous year, down from 184 million in the previous year, a 26% decline.

Zurich also manages two pension funds, one in collaboration with Sabadell and another with Deutsche Bank, and operates in Spain through two entities, Zurich Vida and Zurich Insurance, jointly owned by the bank at 10%.