The Portuguese Insurance and Pension Funds Supervisory Authority has published the latest ASEL Insurance and Pension Funds Sector Bulletin, a cross-market report on 2024 developments across Portuguese-speaking insurance and pension fund markets. It shows total insurance premiums of USD 54.2 billion, down 5.5 percent from 2023, as a 10.1 percent fall in non-life business outweighed 1.6 percent growth in life. Technical provisions rose 4.6 percent, driven by life business, but technical results fell 20.1 percent and net results dropped 25.4 percent to USD 6.973 billion. Pension fund assets under management fell 14.9 percent in USD terms. Across the insurance market, the number of insurers increased to 296, while insurance penetration slipped to 2.0 percent and average premium density fell to USD 182 per person. Closed-end pension funds drove most of the declines in assets, contributions and pension payments, while the number of insurance agents increased 6.3 percent. The bulletin also provides country-level data on claims, reinsurance, investments, solvency, pension funds, intermediation and the main national legal acts issued in 2024.
Portuguese Insurance Regulator (ASF)2026-05-25
Portuguese Insurance and Pension Funds Supervisory Authority publishes ASEL bulletin showing USD 54.2 billion in 2024 premiums and weaker sector results
The Portuguese Insurance and Pension Funds Supervisory Authority’s 2024 ASEL Bulletin reports a 5.5 percent decline in total insurance premiums to USD 54.2 billion, driven by a 10.1 percent fall in non-life business, and a 14.9 percent drop in pension fund assets under management. Technical provisions rose 4.6 percent, but technical results fell 20.1 percent and net results declined 25.4 percent to USD 6.973 billion, while insurance penetration slipped to 2.0 percent and premium density to USD 182 per person. The bulletin also notes more insurers (296), a 6.3 percent rise in insurance agents, and country-level data on market metrics and 2024 legal acts.