The emergence of financial capital in the health insurance business in Europe: The case of Spain in the last fifty years
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The emergence of financial capital in the health insurance business in Europe: The case of Spain in the last fifty yearsData
2024Cita bibliográfica
Vilar-Rodríguez, M. & Pons-Pons, J. (2024). The emergence of financial capital in the health insurance business in Europe: The case of Spain in the last fifty years. Revista de Historia Económica / Journal of Iberian and Latin American Economic History 1–26. https://doi.org/10.1017/S0212610924000016
Resumo
[Abstract]: Sickness insurance companies were developed in Spain by doctors and healthcare professionals,
remaining outside the interests of general insurance companies. Their management was hardly professional, with limited actuarial techniques and they only accounted for a small percentage of total
insurance business premiums. From the 1970s onwards, various factors changed this situation, driving processes of concentration, with numerous takeovers and mergers, first reducing the number of
local and regional companies to the benefit of companies of national scope. Subsequently, the
growth in demand for this type of coverage sparked the interest of national general insurance companies and multinationals, leading to a restructuring of the sector which has progressively acquired
greater weight within the insurance business and become increasingly internationalised. This last
stage immersed the health sector in Spain in the great processes of globalisation of the sector, characterised by a financialisation of capital promoted by the bank investment funds. These processes
are little known and are the focus of analysis of this paper, with the aim of enabling comparison
at international level.
Palabras chave
Health
Business
Insurance
Spain
XX-XXI centuries
Business
Insurance
Spain
XX-XXI centuries
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Dereitos
Atribución 4.0 Internacional
ISSN
0212-6109