Sabadell and Zurich strengthen their alliance with new insurance products

Banco Sabadell and Zurich have strengthened their alliance by launching new home and life insurance products. Both entities have a joint venture (joint ventureEstablished 17 years ago, the insurer was one of those that supported the Vallès-based bank in BBVA's takeover bid. After BlackRock, plus one financial investor, the insurance group is the bank's largest shareholder, with 4.947%. The current agreement represents a further step in the "joint strategy" and strengthens their alliance "with the launch of new products on the market and the new Zenit product range, to continue expanding its position as a leader in insurance and boost the insurer's strategy of maintaining strong growth through this life and home insurance." The home and life insurance offering launched on the market incorporates new coverages and a new contracting model: a fixed premium for three years, with no increases based on age, claims history, or inflation, and with the option of monthly payments at no extra charge. Strategic Plan

This move by the Catalan bank aligns with its 2025-2027 strategic plan, which positions the insurance business as one of its growth drivers. The roadmap, presented last July, projected insurance growth exceeding 15%, thanks precisely to the alliance with Zurich.

BanSabadell Life, General Insurance and Pensions is a joint venture Founded in 2008 as a result of Zurich's alliance to market insurance through Banc Sabadell's network for over fifteen years, BanSabadell Vida has increased its market share from 11% in the second quarter to 12.7% in the third. Total premiums reached €3.471 billion, representing a 178.2% improvement compared to the same period last year. Meanwhile, BanSabadell Seguros Generales grew by 11.6%, compared to the market's 7.3% growth, primarily due to the growth experienced in multi-risk home insurance, with a 14% increase in premiums, and health insurance, with a 27% increase.