The insurance industry in modern Spanish history has not practically yet been studied, notwithstanding die considerable significance of this financial activity which is not only a reflection of economic development but also in itself motive power thereof. It may also be used as an indicator of the evolution of other sectors since, in the capitalist system everything of value is always insured. This paper is intended as a first approach to the insurance industry in Spain from 1800 to 1934 and as such it has been given a maximum of generality so as to present a framework which may be used for further investigation.