Portugal's Insurance and Pension Funds Supervisory Authority (ASF) has published its Market Conduct Regulation and Supervision Report for 2024, setting out its regulatory output, supervisory and enforcement activity, and consumer support metrics across insurers, pension fund managers and insurance intermediaries. The report also frames key conduct risks and priorities, including value for money, health insurance transparency, natural catastrophe risk gaps and sustainable finance disclosures. In 2024 ASF issued 13 regulatory standards and ran 12 public consultations, highlighting measures on the right to be forgotten and prohibition of discriminatory practices, anti-money laundering and counter-terrorist financing, and enhanced disclosure of fees, performance and risk for Retirement Savings Plans (PPR). Supervision activity totalled 2,860 actions, supported by advertising monitoring (835 adverts, up 26% year on year) and enforcement including 61 recommendations and 250 specific determinations to insurers and pension fund managers and 332 recommendations and 246 determinations to intermediaries. ASF also recorded 249 suspensions and 783 cancellations of intermediary registrations and, in sanctioning activity, issued 40 conviction decisions and opened 22 administrative offence proceedings. On consumer outcomes, ASF closed 2,068 complaints and received 2,314, with claims handling representing 62% of closed cases and motor, fire and other damage, and health insurance the most complained-about products; 29% of closed cases had an outcome favourable to the complainant. ASF also flags follow-through work in 2025, including monitoring implementation of Circular No. 6/2025 on “standard conditions” for health insurance and Recommendations No. 1/2025 on distinguishing health insurance from health “plans”, and planned consumer-facing materials and recommendations linked to conduct risks in credit protection insurance distributed through bancassurance.

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