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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Portuguese non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Portugal's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Portugal non-life (P&C) market as well as trends by line of business. Axco analysts also report on Portugal's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Portugal's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Portugal, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Portugal, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Portugal with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
In 2020 Portugal was ranked 35 in the world for all classes of business, according to Axco Global Statistics. For non-life business it ranked 31. The market is characterised by relatively stable insurance penetration, a high degree of concentration at the top end of the market, significant foreign ownership, the lack of a domestic reinsurance market and some exposure to earthquake, all set against a background of a slow but gradual economic recovery.
When this report was in preparation there were 49 companies licensed to operate in the Portuguese non-life insurance market ....
This is a brief extract of information; more updated information may be available in the latest published report.