Portuguese market News

Generali Completes Legal Merger of Subsidiaries in Portugal

After the completion of the acquisition of Seguradoras Unidas S.A. in Portugal in January, Generali concluded the process of the legal merger of all its 100% owned insurance subsidiaries in Portugal on Oct. 1, 2020. Seguradoras Unidas S.A. now incorporates …

Sedgwick Acquires Portuguese Loss Adjusting and Claims Management Firm

Sedgwick, a global provider of technology-enabled risk, benefits and integrated business solutions, has acquired Perigest, a loss adjusting and claims management company in Portugal. “The transaction represents an important step for Sedgwick as a market leader in Spain and Portugal …

Sompo Int’l Forms Agricultural Insurance Partnership with Portuguese MGA ATLAS

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that its global agriculture platform, AgriSompo, has entered into a partnership with Portuguese managing general agent ATLAS Segurmina, to offer innovative crop insurance solutions …

BMS Signs Preferred Partner Agreement with Portuguese Specialty Broker Tagus

BMS Group, the independent specialist re/insurance broker, announced the conclusion of a preferred partner agreement with the new wholesale and specialty broker Tagus Specialty in Portugal. An ambitious production plan has been developed that will see BMS teams in London …

Generali Is Front-Runner to Buy Portugal Insurer Tranquilidade: Sources

Assicurazioni Generali SpA has emerged as the front-runner to acquire Apollo Global Management’s Tranquilidade, the second-largest non-life insurer in Portugal, people familiar with the matter said. The Italian insurer offered the highest bid for the Portuguese company and is poised …

XL Catlin in Iberia Taps Marsh’s Herrero as Head of Political Risk, Credit & Bond

XL Catlin’s insurance operation in Iberia announced new local underwriting capabilities with the appointment of Santiago Herrero as head of Political Risk, Credit & Bond (PRCB) – Iberia. Herrero will be based in Madrid and reports to Dan Riordan, XL …

XL Catlin Expands Professional Indemnity Offering in Iberia

XL Catlin’s insurance operation in Iberia announced an extension of its professional indemnity coverage. Traditionally, the coverage protects professional service firms against legal costs and claims for damages to third parties which may arise out of an act, omission or …

XL Catlin Launches Five Financial Institutions Insurance Solutions in Iberia

XL Catlin’s insurance operation in Iberia announced that it is launching five new insurance solutions for financial institutions. The coverage is for directors & officers liability, civil liability, comprehensive crime, private equity / venture capital liability and investment management. “Spain’s …

China to Encourage More Investments in Portugal (Including Insurance)

China will encourage more of its companies to invest in Portugal in areas such as finance, insurance, health care and infrastructure, President Xi Jinping has told the visiting Portuguese Prime Minister Antonio Costa. Both countries need to deepen cooperation in …