What SURNE Seguros y Pensiones does

SURNE Seguros y Pensiones (legal name: SURNE Mutua de Seguros y Reaseguros a Prima Fija) is a Spanish mutual insurance company founded in 1905 and headquartered in Bilbao. The company is structured as a Mutua — owned by its policyholders rather than external shareholders — which allows it to offer competitive pricing without profit-distribution obligations. Its product portfolio spans life insurance (SURNEVIDA), guaranteed-return savings products (SURNEAHORRO at 1- and 5-year terms), accident insurance (including the 2025 Accidentes Senior for clients 60+), daily-allowance income protection for the self-employed (Baja Diaria, Baja Diaria Baremo, Baja Plus), personal autonomy/dependence coverage, education protection plans, and pension products (SURNEPENSIÓN and SURNELAN EPSV plans for the Basque Country, and SURNEJUBILACIÓN pension fund for the rest of Spain).

The business is distributed primarily through a nationwide network of independent insurance mediators/brokers operating across all Spanish provinces, supplemented by twelve direct offices (Bilbao, Madrid, Barcelona, Valencia, Sevilla, San Sebastián, Gijón, Pamplona, Vigo, Málaga, Ciudad Real, Valladolid), online quotation tools, and the dedicated Intranet del Mediador broker portal. Underlying technology includes the Intranet del Mediador, the Portal del Cliente (customer self-service), and an AI-powered website chatbot for query handling. Operations are ISO 9001:2015 certified for insurance and pension plan administration, and the firm was recognized by ADECOSE as Spain's top insurer in broker-channel service quality for 2025.

The revenue model is subscription-based recurring premiums on long-duration life, savings, accident, daily-allowance, and pension contracts, supplemented by one-time commissions and fees on intermediated products. Customer segments are predominantly long-tail: individuals and families, self-employed/freelancers, Basque Country EPSV participants, and a smaller B2B exposure to companies and public administrations requiring convention accident and event coverage. Pricing is quote-based, with publicly disclosed starting examples of 78.48 EUR/quarter for the Study Protection Plan and up to 20% savings versus comparable life insurance products.

Name

SURNE Seguros y Pensiones

Legal name

SURNE MUTUA DE SEGUROS Y REASEGUROS A PRIMA FIJA

Website

https://surne.es

Company type

Private

Founded year

1905

Operating status

Operating

Headcount range

11–50 employees

Short description

SURNE Seguros y Pensiones is a Spanish mutual insurance company, founded in 1905 in Bilbao, providing life insurance, accident coverage, savings products, and pension/EPSV plans to individuals, families, self-employed professionals, and businesses across Spain via a nationwide broker network and twelve direct offices.

Ownership category

akta.pro rank

Product category

Life Insurance and Pensions

NAICS

Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411), Pension Funds (525110)

SIC

Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB)

akta.pro secondary industries

Group Disability Income Insurance (Employer-Sponsored) (FSAIAIAB), Pensions & Retirement Benefits Administration (BPAIAKAA), Employee Benefit & Retirement Plan Trust Services (FSAAANAC)

Keywords

• Life insurance products
• Accident insurance coverage
• Pension fund plans
• Savings insurance
• Mutual insurance services

Headquarters

HQ city

Bilbao

HQ country

Spain

HQ region

Europe

Offices12 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Life Insurance: SURNEVIDA life insurance covering death and permanent disability caused by illness or accident, with optional double capital for accidental death or absolute permanent disability.
2. Savings Insurance: SURNEAHORRO life-savings insurance offering attractive returns at fixed terms (1 year and 5 years) combined with life coverage.
3. Accident Insurance: SURNEACCIDENTES provides coverage for disability or death due to accident, available 24 hours worldwide with both occupational and non-occupational options.
4. Daily Allowance Insurance: Coverage for illness or accident resulting in inability to work, with customizable daily indemnity amounts, waiting periods, and coverage durations up to 18 months.
5. Baja Plus (Combined Product): Combines daily allowance with absolute disability income coverage until age 65.
6. Personal Autonomy Protection Plan: Coverage for dependency situations providing lifetime annuity for severe or major dependency, with maximum insured capital of 4,000 euros/month for severe dependency and 2,000 euros/month for major dependency.
7. Study Protection Plan: Annual life annuity insurance protecting children's education in case of parent death, paying annual pension until age 23.
8. EPSV (Voluntary Social Welfare Entity) Plans: Individual and employment EPSV plans for Basque Country residents, providing pension savings with tax advantages.
9. Pension Funds: SURNEJUBILACION pension fund available in fixed income and variable income modalities for residents of the rest of Spain.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

SURNE Seguros y Pensiones is a Spanish mutual insurance company that underwrites and distributes life insurance, accident insurance, savings-insurance products, and pension/EPSV plans. It operates through a nationwide network of insurance mediators (brokers) and its own regional offices, providing financial protection for individuals, families, self-employed workers, and companies across Spain.

Product overview

SURNE Seguros y Pensiones is a mutual insurance company founded in 1905, offering a comprehensive portfolio of life insurance, savings, and pension products distributed through a network of mediators across Spain. The core insurance products include Vida (life insurance), Accidentes (accident coverage), and specialized offerings like Accidentes Senior (for clients 60+) and Plan de Protección de Autonomía Personal (dependence coverage). Savings products include SURNEAHORRO (1-year and 5-year terms) with guaranteed returns. Daily allowance products cover Baja Diaria, Baja Diaria Baremo, and Baja Plus (combining daily allowance with disability income). Education protection is provided through Plan Protección de Estudios. On the pension side, SURNE offers SURNEPENSION and SURNELAN EPSV plans for Basque Country residents, and SURNEJUBILACIÓN pension fund for the rest of Spain. Additional services include Online Testament (via ONLYGAL partnership), customer Defensor del Cliente, and web portals for both customers (Portal del Cliente) and mediators (Intranet del Mediador).

Differentiator

Problem solved

Functional benefit

Brands

• SURNEVIDA: Life insurance product offering death and disability coverage with additional features like digital life deletion and breast cancer advance payment.
• SURNE AURREZKIA/AHORRO
• SURNEJUBILAZIOA
• SURNEPENSIÓN
• SURNELAN
• Baja Plus
• Plan Protección de Autonomía Personal
• Plan Protección de Estudios

Products and services

• Vida (SURNEVIDA) Life insurance covering death and permanent disability due to illness or accident, with optional double capital for accidental death or total permanent disability. Includes additional coverages such as digital life deletion and breast cancer advance payment for insured women. Targeted at individuals and families.
• SURNEAHORRO 1 AÑO One-year life-savings insurance that provides guaranteed returns on invested capital combined with a life insurance component for death cases. Targets individuals seeking short-term savings with insurance coverage.
• SURNEAHORRO 5 AÑOS Five-year life-savings insurance with guaranteed returns and an early redemption option available from the first year, combined with life insurance coverage for death cases.
• Baja Diaria Daily allowance insurance covering illness or accident contingencies, with customizable daily indemnity amounts, franchise days, and a coverage period of up to 18 months. Primarily designed for self-employed workers and liberal professionals needing income protection.
• Baja Diaria Baremo Barcoded daily allowance insurance where the insured receives payment at the beginning of sick leave based on a standardized pathology-specific scale rather than at the end. Covers up to 365 days.
• Baja Plus Combined product that pairs Baja Diaria with absolute disability income coverage until age 65. Can be contracted alone or as a complement to daily allowance products from other insurers.
• Accidentes (SURNEACCIDENTES) Accident insurance providing coverage for disability or death due to accident, available in 24-hour or work-related versions with worldwide coverage. Also includes convention insurance and temporary accident insurance for training, social, cultural, and sports activities.
• Accidentes Senior Accident insurance specifically designed for senior clients over 60, covering bone fractures with maximum contracting age of 75 and coverage up to 85 years. Only requires a health declaration for contracting.
• Plan de Protección de Autonomía Personal Dependence insurance covering expenses when the policyholder reaches dependence status (severe or major), providing a lifetime annuity or guaranteed capital. Maximum entry age of 69, with up to 4,000 euros/month for severe dependence and 2,000 euros/month for major dependence.
• Plan Protección de Estudios Annual life income insurance designed to protect children's education in case the parent or insured parent passes away. Children receive an annual pension until age 23, with a maximum insured annual income of 10,000 euros per child.
• SURNEPENSION, EPSV Individual Voluntary Social Welfare Entity (EPSV) plan for Basque Country residents, offering retirement savings with multiple investment modalities including variable income, mixed, guaranteed, and fixed income options.
• SURNELAN, EPSV

Quantifiable outcome

• Up to 20% savings compared to similar life insurance products
• +2 more outcomes

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability2 records

Feature4 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Walk On ProjectminorOthersSURNE provides support to the Walk On Project association as part of its corporate social responsibility initiatives, contributing to social, cultural, and sports projects.
• Bilbao BasketminorOthersSURNE sponsors Bilbao Basket basketball team as part of its corporate social responsibility and regional sports support initiatives.
• Guggenheim Museum BilbaominorOthersSURNE provides support to the Guggenheim Museum Bilbao as part of its corporate social responsibility and cultural sponsorship initiatives.
• Insurance Brokers/MediatorscoreChannel Partner/ Reseller/ DistributorSURNE works with an extensive network of insurance mediators/brokers distributed throughout Spain. These intermediaries provide independent, professional, and impartial advice to customers and assist with policy contracting under legal mandate (Ley 26/2006).

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• VidaCaixa (CaixaBank Seguros): Spanish life insurance and pension specialist with bancassurance reach through CaixaBank. Competes directly with SURNE on EPSV-adjacent pension and life-savings products, but at much larger distribution scale.
• Mapfre: Largest Spanish insurer globally with full life, accident, and pension offerings plus a vast international footprint. Comparable on product breadth and Mediterranean market focus but far larger scale.
• SegurCaixa Adeslas: Major Spanish life and health insurer (subsidiary of CaixaBank/Mutua Madrileña). Comparable product set but vastly larger scale and bancassurance distribution moat.

Direct peers

• Santalucía: Spanish specialist in life, accident, and dependency insurance for families and seniors. Closely matches SURNE's product mix (death, disability, dependence, savings) and household target customer.
• Mutualidad de la Abogacía: Spanish mutual alternative for lawyers covering life, disability, and retirement/savings products. Comparable mutual governance, similar product architecture, similar small-scale professional focus.
• Pelayo Mutua de Seguros: Spanish mutual insurer that has expanded from auto into home, life, and accident. Highly comparable mutual structure and Spanish multi-line personal insurance positioning.
• Ocaso Seguros: Spanish insurance company specializing in death/savings insurance (Decesos), with strong broker and direct distribution. Closely aligned to SURNE on life-savings product focus.
• Mutua Madrileña: Spain's largest mutual insurer (originally Auto, but expanded into Life, Accident, Health, Pensions). Most directly comparable to SURNE on mutual structure, multi-line personal lines offering, and Spanish-only mutual ownership.
• Previsión Sanitaria Nacional (PSN): Spanish mutual insurer focused on healthcare professionals, offering life, accident, and pension products through a dedicated advisor network. Highly comparable mutual structure and personal-line insurance focus.
• Caser Seguros: Spanish mutual insurance company offering life, health, accident, and pension products via a multi-channel distribution model. Highly comparable on mutual governance and product portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/surneseguros?lang=es
• YouTubeyoutube.com/channel/UCX8yyeOlMWzOawJDjBWlDwg
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/surne-seguros-y-pensiones
• Instagraminstagram.com/surneseguros

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SURNE Seguros y Pensiones