Asefa Seguros
Asefa Seguros is a Spain-based insurance company specializing in technical insurance products for the construction industry, including decennial damage insurance, surety bonds, and civil liability coverage, distributed through 1,200 brokers and serving construction professionals across Spain.
- Company typePrivate
- Founded1972
- HeadquartersMadrid, Spain
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Asefa Seguros does
Asefa Seguros is a Spanish insurance company founded in 1972 and headquartered in Madrid, specialized exclusively in technical insurance products for the construction industry. Since 2023 the entity has operated as a branch (sucursal) of SMA SA, itself part of the French mutual insurance group SMABTP, which has been the sole shareholder since 2021. With a stated 2025 business volume of EUR 56 million and 106 employees, Asefa focuses on a narrow, technically demanding product set: decennial damage insurance (Seguro Decenal de Daños), triennial rehabilitation coverage, construction all-risk policies for building and civil works, construction and industrial machinery breakdown insurance, surety bonds for public administration and property developers, and civil liability coverage. The company's technical edge is reinforced by an in-house Technical Control Organism (ASEFA OCT) that performs risk assessment and quality-control inspections, and by the ESE-CON expert knowledge platform.
The company distributes exclusively through a network of approximately 1,200 professional insurance mediators and brokers across Spain, supported by six regional offices (Madrid, Barcelona, Valencia, Sevilla, Bilbao, A Coruña). Pricing is determined case-by-case through individual project risk assessment rather than published rate cards. The customer base is entirely B2B enterprise within the Spanish construction value chain: property developers (promotores), contractors (constructores) and technical professionals (técnicos). Revenue is generated via recurring annual and project-based insurance premiums, with no disclosed ancillary or fee streams.
Asefa is recognized for ten consecutive years (2016-2025) as the best-rated company in Technical Insurance Lines by the ADECOSE broker barometer (2025 score: 7.98) and has led the ICEA ranking in decennial damage insurance across multiple years. It carries an A+ stable rating from Fitch Ratings via the SMABTP group, which has EUR 9.45 billion in equity and a 249% solvency ratio. In April 2025 the company appointed a new Director General and Deputy General Director and launched the 'Grandir Ensemble' 2025-2027 strategic plan under the SMABTP umbrella. Asefa has no disclosed AI/ML capabilities, no external funding rounds, and operates as a mid-market, mature, niche specialist within a multinational mutual group.
Asefa Seguros firmographics
Firmographics- Name
- Asefa Seguros
- Legal name
- ASEFA, SMA SA, Sucursal en España
- Website
- https://asefa.es
- Company type
- Private
- Founded year
- 1972
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Asefa Seguros is a Spain-based insurance company specializing in technical insurance products for the construction industry, including decennial damage insurance, surety bonds, and civil liability coverage, distributed through 1,200 brokers and serving construction professionals across Spain.
- Ownership category
- akta.pro rank
Asefa Seguros industry classification
Industry- Product category
- Construction Insurance
- NAICS
- Insurance Carriers and Related Activities (524)
- SIC
- Fire, Marine & Casualty Insurance (6331), Surety Insurance (6351)
- akta.pro primary industry
- Construction Specialty (Wrap-Ups/Builders Risk/Contractors) (FSAJAGAH)
Keywords
Where Asefa Seguros is headquartered
LocationHeadquarters
- HQ city
- Madrid
- HQ country
- Spain
- HQ region
- Europe
Offices6 records
Markets served
Asefa Seguros business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Insurance Premiums: Collection of insurance premiums for construction-specific coverage including decennial damage insurance, civil liability, surety bonds, and machinery insurance. Revenue is generated through periodic premium payments from policyholders.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Custom insurance solutions tailored to project type and risk profile |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Asefa Seguros product offering
Product offeringCore offering
Asefa Seguros is a specialty insurance company providing construction-focused insurance products including decennial damage insurance (mandatory for new housing), triennial rehabilitation insurance, all-risk construction insurance for buildings and civil works, construction machinery breakdown insurance, industrial machinery insurance, surety bonds for public administration, amount bonding for property developers, and civil liability insurance for construction professionals. All products are distributed through professional mediators and backed by SMABTP Group's international expertise.
Product overview
Asefa Seguros operates as a specialized insurance company for the construction industry, offering a comprehensive portfolio of technical insurance products organized into three main categories: Construction Insurance (Seguros de Construcción), Surety Insurance (Seguros de Caución), and Civil Liability Insurance (Seguros de Responsabilidad Civil). The Construction Insurance portfolio includes the core Seguro Decenal de Daños (mandatory decennial damage insurance), the Seguro de Rehabilitación Trienal (triennial rehabilitation insurance), Todo Riesgo Construcción for both building and civil works projects, and machinery breakdown insurance for construction and industrial equipment. The Surety Insurance offerings comprise Fianzas ante la Administración (administrative bonds) and Afianzamiento de Cantidades (amount bonding for property developers). The Civil Liability Insurance range includes RC Construcción and the RC Pack Producto Plus. All products are distributed through mediators and backed by the international Group SMABTP, with over 50 years of experience in the Spanish market.
Differentiator
Problem solved
Functional benefit
Products and services
- Seguro Decenal de Daños (Decennial Damage Insurance) Mandatory insurance for new housing promotions in Spain covering structural damage for 10 years, protecting buyers against defects that compromise building stability and safety. Required by Spanish law for new residential construction.
- Seguro de Rehabilitación Trienal (Triennial Rehabilitation Insurance) Insurance protecting for 3 years against material damage from rehabilitation or renovation work on existing buildings, with no waiting periods. Designed for projects where decennial insurance is not required.
- Seguro Todo Riesgo Construcción - Edificación (All-Risk Construction Insurance - Building) All-risk insurance covering all accidental and unforeseeable material damage to building construction projects from start to completion, excluding specified items. Targeted at construction projects of buildings.
- Seguro Todo Riesgo Construcción - Obra Civil (All-Risk Construction Insurance - Civil Works) Insurance for infrastructure and public works projects such as bridges, tunnels, and highways, protecting against material damage from unforeseen events during execution.
- Seguro de Avería de Maquinaria de Construcción (Construction Machinery Breakdown Insurance) Insurance covering damage to construction machinery such as excavators and cranes during a fixed period or while in use at a specific construction site.
- Seguro de Avería de Maquinaria Industrial (Industrial Machinery Breakdown Insurance) Insurance protecting fixed equipment in the construction industry sector against accidental, mechanical, electrical damage and external phenomena such as fires, theft, or weather events.
- Fianzas ante la Administración (Administrative Bonds / Surety Insurance) Surety insurance guaranteeing compliance with legal and contractual obligations when bidding or contracting with public administration bodies. Ensures contract fulfillment in public procurement processes.
- Afianzamiento de Cantidades (Amount Bonding Insurance) Mandatory surety insurance for property developers protecting home buyers by guaranteeing refund of advance payments if construction is not completed or delivered on time.
- RC Construcción (Construction Civil Liability Insurance) Civil liability insurance covering a wide range of contingencies including property damage, bodily injury, or other situations arising during construction project execution. Targeted at construction companies and professionals.
- RC Pack Producto Plus (Product Plus Liability Pack) Combined insurance product protecting business assets against claims from defective products, combining product warranty policy with general/company liability coverage.
Quantifiable outcome
- 10 consecutive years as best-valued company in Technical Ramos according to ADECOSE barometer (2025 score: 7.98)
- +2 more outcomes
Companies that use Asefa Seguros
Customer profileNamed customers3 records
Segments1 record
Ideal customer profiles1 record
Asefa Seguros technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Asefa Seguros partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- Colegio de Mediadores de A CoruñacoreRenewed alliance with the College of Insurance Mediators of A Coruña, reinforcing collaboration with the professional mediator community in the Galicia region.
- ASPRIMA UPM (Universidad Politécnica de Madrid)minorEducational partnership where approximately 40 students from the Real Estate Degree program visited Asefa headquarters for a training session on risk management in insurance and its impact on real estate activity. Includes masterclass by General Director Isabel de Jorge.
- VICTORIA (Portugal)minorSister company of ASEFA within SMABTP Group, operating in the Portuguese insurance market.
- SMA BelgiumminorSister company of ASEFA within SMABTP Group, operating in the Belgian insurance market.
- DUPI and Woningborg (Netherlands)minorSister companies of ASEFA within SMABTP Group, operating in the Dutch insurance market.
- SMABTP Côte d'Ivoire SAminorSister company of ASEFA within SMABTP Group, operating in the Ivorian insurance market.
- SMABTP Germany GmbHminorSister company of ASEFA within SMABTP Group, operating in the German insurance market.
Scale indicators3 records
Recent moves9 records
Expansion highlights6 records
Asefa Seguros competitors and assessment
Company assessmentBroad incumbents
- Mapfre: Spain's largest insurance group with a dedicated construction-insurance line. Competes with Asefa in decennial, all-risk, and civil liability products across the same broker channel.
- Mutua Madrileña: Large Spanish mutual insurer offering construction, civil liability, and surety products through Spanish mediators. Direct overlap in the broker channel for technical lines.
- AXA: Global P&C insurer with construction and engineering specialty lines serving Spanish corporate and broker customers; broad incumbent competitor in technical insurance.
- Zurich Insurance: Global P&C carrier with a strong European construction-insurance franchise competing in Spanish decennial, all-risk, and surety segments through broker networks.
- SMABTP: French mutual insurance parent of Asefa and the original pioneer of construction insurance in France. Operates the same decennial, all-risk, and surety lines across Europe, making it both parent and direct model peer.
- Allianz: Global insurer with construction, engineering, and surety lines active in Spain via brokers and direct channels, providing scale-driven competition in non-mandatory products.
Regional players
- VICTORIA Seguros: Sister SMABTP entity operating in Portugal with the same construction-insurance specialization (decennial, surety, civil liability). Closest geographic and product-model peer to Asefa.
- SMA Belgium: Belgian SMABTP subsidiary offering construction and decennial insurance. Comparable niche specialization in another European market under the same group playbook.
- DUPI: Dutch SMABTP subsidiary active in construction and warranty insurance. Peer via shared parent model and similar product mix focused on the building sector.
Direct peers
- Musaat: Spanish mutual insurer specializing in civil liability and technical coverage for architects, engineers, and construction professionals — Asefa's core 'Técnicos' customer segment.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Asefa Seguros social profiles
Digital presenceAsefa Seguros financial estimates
Financial estimateRevenue estimate
Valuation estimate
Asefa Seguros leadership team
Management profileNumber of profiles
Profiles8 records
Asefa Seguros funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Asefa Seguros M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Asefa Seguros
What does Asefa Seguros do?
Asefa Seguros is a specialty insurance company providing construction-focused insurance products including decennial damage insurance (mandatory for new housing), triennial rehabilitation insurance, all-risk construction insurance for buildings and civil works, construction machinery breakdown insurance, industrial machinery insurance, surety bonds for public administration, amount bonding for property developers, and civil liability insurance for construction professionals. All products are distributed through professional mediators and backed by SMABTP Group's international expertise.
Is Asefa Seguros a public or private company?
Asefa Seguros is a private company. It is classified as corporate owned and is currently operating.
When was Asefa Seguros founded?
Asefa Seguros was founded in 1972. It employs 101 to 250 people.
Where is Asefa Seguros based?
Asefa Seguros is headquartered in Madrid, Spain, in the Europe region.
How does Asefa Seguros make money?
One revenue line is on record: insurance Premiums.
Who are Asefa Seguros's main competitors?
Broad incumbents on record are Mapfre, Mutua Madrileña, AXA, Zurich Insurance, SMABTP and Allianz. Regional players are VICTORIA Seguros, SMA Belgium and DUPI. Musaat is listed as a direct peer.
Does Asefa Seguros have an API?
No public API is recorded for Asefa Seguros.
What industry is Asefa Seguros in?
Asefa Seguros's product category is Construction Insurance. Its primary akta.pro industry code is FSAJAGAH, Construction Specialty (Wrap-Ups/Builders Risk/Contractors). Its NAICS code is 524 and its SIC code is 6331.