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Insurance Intelligence

Providing expert analysis, independent market insight and company data on the insurance industry.

Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.

Axco’s Portugal Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.

The Life & Benefits Report for Portugal includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics

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Information for Portugal can be seen in:

Insurance Market Reports (Non-Life) Insurance Market Reports (Life & Benefits) Employee Benefits Reports Global Statistics Regulatory Alerts Market Profiles Insight Compliance Insight EB Compliance Point Clinical Trials Axco API

Country Information

Capital city
Real GDP growth (%)
Inflation (%)
latest GWP
Insurance Penetration (%)
GMT +0
10.20 mn (2020)
235,771.87 mn
10,623.71 (mn)

Portugal is located at the western end of the Iberian Peninsula, bordering Spain. 

The insurance 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 recovery from its economic woes following the 2008 financial crisis.

In 2018 gross written premiums for non-life business including personal accident (PA) and healthcare rose by 1.4% to EUR 4.81bn.  Excluding PA and healthcare business the non-life written premiums fell by 1% to EUR 3.37bn.


In October 2019 there were 53 companies licensed to operate in the Portuguese non-life insurance market, of which 25 were branches of foreign insurers. Many other companies operate under freedom of services legislation.

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