The Portuguese Insurance and Pension Funds Supervisory Authority published its second-quarter 2026 insurance market report, showing that direct insurance production in Portugal rose 18.1% year on year to EUR 9.42 billion. Life production increased 27.5%, while non-life production grew 9.2%. Amounts paid rose 25.8% to EUR 5.58 billion, driven by a 35.2% increase in non-life payments following storm-related claims, alongside a 16.8% rise in life payments. Fire and other damage payments nearly tripled, rising 195.1% to EUR 920.6 million, as insurers settled claims arising from storms in the first months of 2026. At the end of June, investment portfolios totaled EUR 59 billion and technical provisions reached EUR 50.7 billion. Estimated Solvency Capital Requirement and Minimum Capital Requirement coverage ratios remained above required minimums at 198% and 523%, respectively, but declined by 14 and 37 percentage points from the end of 2025.
2026-08-21Portuguese Insurance Regulator (ASF)
Portuguese Insurance and Pension Funds Supervisory Authority reports 18.1% growth in direct insurance production as solvency coverage declines
The Portuguese Insurance and Pension Funds Supervisory Authority reported an 18.1% year-on-year increase in direct insurance production to EUR 9.42 billion in the first half of 2026. Amounts paid rose 25.8%, largely because of storm-related non-life claims, while estimated solvency and minimum capital coverage ratios declined to 198% and 523%.