The agricultural insurance sector in Spain saw a 16% growth in 2023, reaching over one billion euros in premiums, according to Agroseguro. This is the first time the premium receipts have surpassed one billion euros, with insured capital reaching almost seventeen billion euros. The increase in insurance contracting was seen in main agricultural productions, leading to a total of six million insured hectares, thirty-seven million tons, and over four hundred million insured animals, with compensations expected to exceed one billion two hundred million euros in 2023.