Ignacio Machetti

Consorcio de Compensación de Seguros

The 'Consorcio de Compensación de Seguros' (CCS) is an instrument that services the Spanish insurance sector, with an extensive historical background. It is a public business organisation attached to the Ministry of Economic Affairs and Digital Transformation, through the General Directorate for Insurance and Pension Funds. It performs many functions within the insurance field, and amongst which those related to coverage of extraordinary risks, compulsory vehicle insurance, combined agricultural insurance and liquidation of insurance companies stand out. The CCS has its own legal identity and full capacity to work and its specific framework of action is determined by its Legal Status. It has its own assets; independent of those belonging to the State, and its activity does not depend on any State budget. Its highest decision-making body is the Board of Directors, which, chaired by the General Manager for Insurance and Pension Funds, is made up of 14 members, seven of which are senior executives from private insurance companies and the other seven are senior officials from the Administration.