Name

BBVA Seguros

Legal name

BBVA SEGUROS, S.A., DE SEGUROS Y REASEGUROS

Website

https://bbvaseguros.com

Company type

Private

Founded year

1968

Operating status

Operating

Headcount range

5,001–10,000 employees

Ownership category

akta.pro rank

Product category

Bancassurance (Life, Health, Savings, and Collective Insurance)

NAICS

Direct Life Insurance Carriers (524113), Direct Health and Medical Insurance Carriers (524114), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Agencies and Brokerages (524210)

SIC

Life Insurance (6311), Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331), Hospital & Medical Service Plans (6324)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Group Universal Life (GUL) (FSAIADAC), Individual Health Insurance Administration (TPA/ASO) (FSAIAEAK)

Keywords

• Life insurance products
• Health insurance plans
• Savings insurance policies
• Corporate collective insurance
• Bancassurance distribution

Headquarters

HQ city

Bilbao

HQ country

Spain

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Insurance Premiums (Life): BBVA Seguros collects recurring premiums from life insurance policies (Seguro Vida BBVA, BBVA Vida Prima Segura) on an annual-renewable basis with monthly, quarterly, semi-annual, or annual payment options. Premiums are priced based on the insured's age and selected modality.
2. Insurance Premiums (Health): BBVA Seguros co-insures health insurance products (BBVA Salud, BBVA Salud Contigo, BBVA Salud Senior, BBVA Salud Autónomos) at 50% co-insurance with Sanitas. Premiums are collected monthly or annually with optional payment via the Plan EstarSeguro card.
3. Insurance Premiums (Savings): BBVA Seguros generates revenue from savings insurance products including SIALP, PIAS, PPA, Rentas Aseguradas, Rentas Vitalicias Seguridad, and BBVA Plan Ahorro Garantizado (PAG), where single or periodic premiums are invested and generate returns.
4. Plan EstarSeguro Payment Plan Fees: The Tarjeta BBVA Plan EstarSeguro generates revenue through the bundling of multiple insurance policies under one monthly payment plan, with bonuses applied based on policy count. The card itself carries no interest, commissions, or additional costs.
5. Previsión Colectiva (Corporate Insurance): BBVA Seguros provides corporate insurance products for companies including employee retention plans, retirement savings capitalization, variable compensation, flexible remuneration, enterprise social security plans, excess policies, and pre-retirement arrangements. Revenue is generated through premiums paid by companies.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

BBVA Seguros sells life, health, savings, and corporate insurance products to Spanish individuals and businesses, distributed primarily through BBVA bank's 3,000+ branch network and digital channels. Products include life insurance (Seguro Vida BBVA, BBVA Vida Prima Segura), private health insurance co-insured with Sanitas (BBVA Salud and variants), tax-advantaged savings and annuity products (SIALP, PIAS, PPA, PAG, Rentas), and corporate collective insurance (Previsión Colectiva, Keyman). The Plan EstarSeguro card enables bundling of multiple insurance policies under one interest-free monthly payment with loyalty discounts.

Product overview

BBVA Seguros is an insurance company belonging to the BBVA Group (Banco Bilbao Vizcaya Argentaria) offering a comprehensive portfolio of insurance products through banking distribution channels. The product portfolio spans three main categories: (1) Life insurance including Seguro Vida BBVA and BBVA Vida Prima Segura with coverage for death, serious illness, and disability, plus Teladoc Health additional services; (2) Health insurance including BBVA Salud, BBVA Salud Autónomos, BBVA Salud Contigo, and BBVA Salud Senior, all co-insured with Sanitas offering access to a network of 56,000+ professionals and 4,200+ medical centers; (3) Savings and pension products including SIALP, PIAS, PPA, Rentas Aseguradas, Rentas Vitalicias Seguridad, and PAG for retirement planning with various tax advantages; (4) Corporate solutions under Previsión Colectiva covering executive compensation systems, social pension plans, and employee benefits. The company also offers BBVA Plan EstarSeguro as a payment management service for bundling multiple insurance policies.

Differentiator

Problem solved

Functional benefit

Brands

• Tarjeta BBVA Plan EstarSeguro: A bundled payment card service that groups BBVA insurance premium payments into monthly installments with up to 15% savings on eligible policies.
• BBVA Vida
• BBVA Vida Prima Segura
• BBVA Plan de Ahorro 5 Garantizado (SIALP)
• BBVA Plan Ahorro Garantizado (PAG)
• PPA Acumulacion BBVA
• Plan Individual de Ahorro Sistematico (PIAS)
• Rentas Aseguradas BBVA
• Rentas Vitalicias Seguridad BBVA
• Rentas PPA
• BBVA Salud
• BBVA Salud Contigo
• BBVA Salud Senior
• BBVA Salud Autonomos
• BBVA Keyman
• Prevision Colectiva
• BBVA Allianz Hogar

Products and services

• Seguro Vida BBVA

Quantifiable outcome

• Up to 15% bonus on insurance premiums through the Plan EstarSeguro card when bundling 10 or more policies
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature3 records

Partnerships

Five partnerships are on record, tiered core and supporting.

• SanitascoreStrategic or Co-development PartnerBBVA Salud health insurance products are co-insured at 50% between BBVA Seguros S.A. de Seguros y Reaseguros (DGSFP key C-0502) and Sanitas S.A. de Seguros (DGSFP key C-0320). Sanitas provides access to its network of more than 56,000 medical professionals and more than 4,200 private medical centers throughout Spain. The partnership extends to multiple health products including BBVA Salud (for individuals), BBVA Salud Contigo, BBVA Salud Senior, and BBVA Salud Autónomos.
• Allianz SeguroscoreStrategic or Co-development PartnerBBVA Allianz Seguros y Reaseguros S.A. (DGSFP key C-0807) offers home/housing insurance and accident/income protection products under the BBVA brand. BBVA Allianz handles home insurance (Hogar) and Baja Laboral Autónomos/Accidentes products distributed through BBVA bank channels. Allianz is a joint venture entity specifically created for BBVA's non-health property and casualty insurance distribution.
• Generali EspañacoreStrategic or Co-development PartnerGenerali Seguros y Reaseguros S.A.U. (CIF A48037642, DGSFP key C-0467) co-insures at 50% the auto/motorcycle insurance products distributed by BBVA with BBVA Seguros. This co-insurance arrangement enables BBVA to offer motor insurance through its branch network under the BBVA brand while leveraging Generali's expertise in auto insurance.
• Teladoc HealthsupportingTechnology or IntegrationTeladoc Health provides additional health services included in BBVA life insurance products (Seguro Vida BBVA and BBVA Vida Prima Segura). Services include medical consultation, nutritional consultation, psychological guidance, health check-ups, second medical opinion (national and international), and the 'ponte en forma' wellness program. Available to the insured, their spouse, and children under 23 years of age. Access via dedicated portal or telephone 900 108 617 (24 hours).
• BBVA Mediación, Operador de Banca-Seguros Vinculado S.A.coreChannel Partner/ Reseller/ DistributorBBVA Mediación (DGSFP key OV-0060) is the official insurance intermediary/broker for BBVA Seguros products. It is a tied insurance broker registered with the Dirección General de Seguros y Fondos de Pensiones. It has a professional liability insurance policy in place, as required by regulation.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Mapfre: Spain's largest insurance group with full-stack life, health, auto, and home products. Overlaps BBVA Seguros across most product lines but is an incumbent carrier rather than a bancassurance distributor.
• Mutua Madrileña: Large Spanish mutual insurer offering auto, home, life, and health products. Broad incumbent competitor across multiple lines where BBVA Seguros distributes insurance through bank channels.
• Caser Seguros: Spanish multi-line insurer with strong bancassurance partnerships of its own (notably with several regional banks). Competes with BBVA Seguros across life, home, and health products distributed via banking channels.

Direct peers

• Santander Seguros: Insurance arm of Banco Santander distributed through its Spanish branch network. Closest comparable in scale, product breadth, and bancassurance model, including life, home, auto, and savings products.
• VidaCaixa: Insurance subsidiary of CaixaBank, Spain's largest domestic bank. Direct bancassurance peer offering life, health, savings, and pension products through CaixaBank's branch network with similar co-insurance and partnership models.
• Ibercaja Seguros: Insurance subsidiary of Ibercaja Banco, focused on life, savings, and pension products distributed through regional bank branches in Spain. Comparable bancassurance business model with smaller scale.
• BBVA Allianz Seguros y Reaseguros: Joint venture between BBVA and Allianz distributing home and motor insurance through BBVA's branch network. Operates alongside BBVA Seguros as a co-insurance and distribution partner for property & casualty lines.
• Sanitas: Spain's leading private health insurer and BBVA Seguros' 50% co-insurance partner for the BBVA Salud family of products. Direct overlap on health insurance distribution and shared economics on BBVA's health book.
• Bankinter Seguros: Insurance subsidiary of Bankinter distributed through its Spanish branch and digital channels. Competes head-to-head in life, health, and savings products with a similar premium bundling approach.

Emerging players

• Línea Directa Aseguradora: Spain's largest direct-to-consumer digital insurer focused on motor and home. Represents the digital-first competitive threat to BBVA Seguros' traditional bancassurance distribution model for P&C products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/bbva-seguros

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries4 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 BBVA Seguros