The Portuguese Insurance Regulator published its first quarter 2026 insurance activity report, showing that direct insurance production in Portugal rose 18.2% from the same period of 2025 to more than EUR 4.9 billion. Life business increased 28.1% and non-life business 9.2%. Amounts paid rose 7.8% to EUR 2.53 billion, with life payments down 8.5% and non-life payments up 27.6%. Life growth was driven by non-linked life insurance excluding retirement savings plans and by linked life products, while production of Planos Poupança Reforma fell 41% year on year. In non-life, production growth was led by motor, health, workers' compensation, and fire and other damage. The sharpest increase in amounts paid was in fire and other damage, up 162.5%, reflecting indemnities linked to the "train of storms" in the first months of the year and lifting the paid-to-premium ratio in that line to 101.9%. At quarter-end, insurers' investment portfolios totaled EUR 57.2 billion, up 1.2% from the end of 2025, while technical provisions stood at EUR 49.1 billion. Debt instruments remained the dominant asset class in investment portfolios. Estimated solvency coverage ratios declined from end-2025 but remained above minimum requirements, with Solvency Capital Requirement coverage at 195% and Minimum Capital Requirement coverage at 509%.
Portuguese Insurance Regulator (ASF)2026-06-12
Portuguese Insurance Regulator reports 18.2% rise in first quarter direct insurance production and lower solvency coverage ratios
The Portuguese Insurance Regulator reported that Portugal's direct insurance production rose 18.2% in the first quarter of 2026, with life up 28.1% and non-life up 9.2%. Amounts paid increased 7.8%, driven by a 27.6% rise in non-life payments and a 162.5% jump in fire and other damage after the early-year storms. Investment assets reached EUR 57.2 billion, while estimated SCR and MCR coverage ratios fell to 195% and 509%.