Climate change has a direct cost to insurance companiesThe figures are clear: in 2025, insurance companies in Spain paid €492 million for claims directly related to climate change; specifically, 628,800 claims, according to data released this Monday by the industry association, Unespa. However, this figure is below the average of recent years, which amounts to around €800 million annually. According to the association, last year the equivalent of 1,723 incidents and €1.34 million in costs were recorded every day, with an average cost per incident of €783, according to data collected by Unespa. Various institutions participate in managing damages caused by natural phenomena. Most claims—such as those resulting from snow, hail, rain, or winds below 120 km/h—are covered by private insurers. For its part, the Insurance Compensation Consortium intervenes when floods, storm surges, sustained winds exceeding 120 km/h – known as atypical cyclonic storms (ACS) – or geological events such as earthquakes or volcanic eruptions occur. These events are considered "extraordinary phenomena." Unespa's data refers exclusively to weather-related claims that correspond to insurance payouts. The breakdown by insurance sector indicates that homes were the most affected, accounting for two-thirds of weather-related claims (407,885 incidents), followed by homeowners' associations (123,024 claims) and automobiles (43,265). Households also accounted for the largest share of payouts, with €213 million (43.3% of the total), followed by industries, with €114 million, and automobiles, with another €77 million. Although multi-risk insurance has the highest volume of policies for homes, the most expensive claims, from an economic standpoint, were registered in industries, according to Unespa. In this sector, the average cost amounted to €3,532 per claim, compared to an average of €523 for households. If the comparison is made based on the natural phenomenon causing the damage, hail stands out—with an average cost of €1,814—and wind, with an average of €739. In absolute terms, however, the impact of rain is significant. This atmospheric phenomenon accounted for more than 58% of all claims and more than 36% of total payouts (€178 million). Hail damage was also significant, representing 17.7% of claims and 41.1% of payouts (€202 million). Wind, meanwhile, accounted for slightly less than a quarter of claims and payouts (€111 million). The impact of snow was minimal in 2025.

Gonzalo Gortázar, CEO of CaixaBank, has been appointed non-executive chairman of VidaCaixa, the insurance company owned by the bank. The decision was made by the financial institution's executive committee. Gortázar, who previously held this position from 2014 to 2021, remains CaixaBank's chief executive and replaces Jordi Gual at VidaCaixa due to the expiration of his term.