2014-03-18 06:43:02 - Non-Life Insurance in Portugal, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com
Portugal´s recessionary economic environment and ongoing austerity measures adopted by the government have created difficult operating conditions for the insurance business in Portugal. The gross written premium of the non-life segment declined at a CAGR of 4.1%, from EUR2.7 billion (US$3.9 billion) in 2008 to EUR2.3 billion (US$2.9 billion) in 2012.
Reduction in construction and housing activity, plus declining automobile sales put pressure on the demand for property and motor insurance. Motor insurance accounted for 59.5% of the non-life segment´s gross written premium, followed by property insurance with 34.0% in 2012.
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