Spain has been on our desk for a while — Irish exporters selling into it, Spanish contractors and suppliers asking for cover on this side of the trade. Now we can answer those enquiries instead of declining them on grounds of territory. On 19 July 2026 FDI Insurance obtained its entry in the Spanish administrative register of insurance and reinsurance undertakings, operating under the freedom to provide services, and it continues to be authorised and prudentially supervised by the Central Bank of Ireland.
The register entry is public and worth checking rather than taking on trust: clave L1617, denominación FDI Insurance Designated Activity Company, país de origen Irlanda, situación activa. Under Ramos y Modalidades it carries two lines, each of them a ramo completo with a fecha de alta of 19 July 2026 and an estado of activo: 14, crédito, and 15, caución. The L in the clave is the register’s own code for an undertaking from another member state writing in Spain under the freedom to provide services, with prudential supervision staying at home.
Those two ramos are the two things a business asks a specialist insurer for. Crédito is cover on the money it is owed — one buyer, a group of buyers, or the whole ledger. Caución is a guarantee issued in its place, to a contracting authority, a tax authority, a counterparty or a public body. The seguro de caución is not a second-best aval: it is security from a supervised insurer, and the point of it is that the limit sits outside the banking relationship. The credit line that was going to fund plant, materials and payroll is still there when the award lands.
We know where we want to be. First, public works: alongside the companies that build large infrastructure, from the garantía provisional at tender through the garantía definitiva, advance payments and retentions, lodged with the Caja General de Depósitos or the regional treasury. Second, energy and renewables, where a project posts security to secure grid access, again to the administration granting the permit, and again to the offtaker and the EPC contractor — a sequence that deserves one facility rather than three conversations. Third, guarantees for liabilities to the tax authority: a certificado de seguro de caución securing an aplazamiento or fraccionamiento is an admitted way to secure a deferral, and it leaves the bank facility intact. That is the moment a solvent business most needs an insurer beside it, and we would rather be there than meet it afterwards.
On distribution we have changed position, and would rather state it than let anyone infer it. Spain, together with Italy and Romania, is distributed and administered by our associated managing general agent — an agency we have worked with for years, whose people already know this book. Intermediaries in those three markets are routed there for submissions, issuance and the day-to-day management of guarantees and credit cover in ramos 14 and 15. What does not move is the underwriting: authority, pricing, the paper and the capital stay with FDI Insurance in Dublin, and so do claims. The agency places and administers; we decide and we pay.
Update — 20 October 2026: FDI Insurance now has a representative office at World Trade Centre, Moll de Barcelona, S/N, Edificio Sur - 2nd Floor, Ciutat Vella, 08039 Barcelona, Spain. N.I.F. N9848961J. Telephone: +34 933443200. The office supports representation and administrative case management; it is not a sales office and is not open to the public. Business in Spain continues under the freedom to provide services, with underwriting in Dublin.
Every guarantee is therefore written off the balance sheet we publish in full — filed report by filed report — in the solvency section of this site. Brokers are welcome to read it before they place a risk with us; we would rather be chosen on the numbers.
If you place credit or caución business in Spain, Italy or Romania, start with the broker desk in Dublin. Tell us the market and what you need to secure, and we will introduce you to the agency that handles it — no volume commitment, and no exclusivity in either direction.
Written by the underwriting team at FDI Insurance d.a.c., Dublin. This piece is general information, not advice on any particular transaction — and it is not an offer of insurance.
