The end of the Spanish Civil War paved the way for a new regime in Spain, where autarky, interventionism and isolation from the international market were the most significant characteristics of economic policy. During the 1940s there was a fall in the standard of living of the Spanish population and in levels of national income. The 1935 per caput income was not recovered until the 1950s. Autarky also meant that the Spanish economy was isolated from abroad, with the entry of foreign capital denied. The Spanish Institute for Exchange Control (IEME) was created, which controlled the buying and selling of foreign currency. Any international transaction and payment had to have the Institute's authorization and concession of the corresponding foreign currency. By the late 1940s the autarkic model had collapsed, Spain's economic situation had become unsustainable and was further aggravated by international isolation. This situation started to undergo modifications in 1947 with changes in international policy, the start of the Cold War and the American administration's interest in having closer relations with the Franco regime. Changes to the policy of autarky began with a government reshuffle in 1951 and with the signing of the Treaty of Madrid with the US in 1953.

As far as the insurance sector was concerned, and in fact all other economic sectors as well, the end of the Civil War and the establishment of the Franco dictatorship led to significant changes.