Governance, Risk and Compliance – The Portuguese Insurance Industry

Governance, Risk and Compliance – The Portuguese Insurance Industry


Timetric’s 'Governance, Risk and Compliance – The Portuguese Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Portugal.

It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.


The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Portugal, including:

  • An overview of the insurance regulatory framework in Portugal.
  • The latest key changes, and changes expected in the country’s insurance regulatory framework.
  • Key regulations and market practices related to different types of insurance product in the country.
  • Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in Portugal.
  • Key parameters including licensing requirements, permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations.
  • Details of the tax and legal systems in the country.
  • The report covers details of the insurance regulatory framework in Portugal.
  • The report contains details of the rules and regulations governing insurance products and entities.
  • The report lists and analyzes key trends and developments pertaining to the country’s insurance regulatory framework.
  • The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.
  • The report provides details of taxation imposed on insurance products and companies.
Reasons To Buy
  • Gain insights into the insurance regulatory framework in Portugal.
  • Track the latest regulatory changes, and expected changes impacting the Portuguese insurance industry.
  • Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.
  • Understand key regulations and market practices pertaining to various types of insurance product.
Key Highlights
  • The Portuguese insurance industry is regulated by the ASF.
  • Composite insurance is not permitted in Portugal.
  • The Portuguese foreign direct investment regime allows up to 100% foreign participation in domestic insurance companies.
  • Non-admitted insurance is not permitted. However, insurers from EU member states can operate either directly or through a branch, on the basis of freedom to provide services.
  • Compulsory classes of insurance include motor third-party liability insurance and workmen’s compensation insurance.

  • Introduction
    • What is this Report About?
    • Definitions
      • Table Insurance Industry Definitions
  • Governance, Risk and Compliance
    • Table Portugal - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulations
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Portugal - Life Insurance Regulatory Framework
      • Property insurance
        • Table Portugal - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Portugal - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Portugal - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor vehicle third-party liability insurance
      • Workers' compensation insurance
      • Fire insurance for property damage
      • Air carriers and aircraft operators insurance
        • Table Portugal - Minimum Cover for Aircraft Third-Party Liability per Accident per Aircraft
      • Professional indemnity insurance for alternative investment fund managers
      • Liability insurance for tour operators
      • Health insurance for foreigners
      • Professional liability insurance for insurance intermediaries
      • Environmental liability insurance
      • Clinical trials liability insurance
      • Liability insurance for ships with respect to oil pollution
    • Supervision and Control
      • International Association of Insurance Supervisors
      • European Insurance and Occupational Pensions Authority
      • Federation of European Risk Management Associations
      • Insurance and Pension Fund Supervision Authority
      • Portuguese Association of Insurers
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and penalties
    • Company Registration and Operations
      • Types of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margins
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
        • Table Portugal - Stamp Duty on Insurance Premium
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Portugal - Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Appendix
    • Methodology
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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