Latest news and stories about insurance in property in Portugal for expats and residents.
Recent severe storms in Portugal have caused extensive damage, prompting many families to seek insurance coverage, though policy limitations often leave them without the expected financial protection.
Recent severe weather events have triggered a 20% to 35% surge in demand for new insurance policies, as both individuals and businesses seek enhanced coverage and better risk management.
Now that the Montenegro government has made multi-risk insurance mandatory — a measure that will contribute to the creation of a Disaster Fund long demanded by the insurance sector — following the damage caused by the train of storms that crossed Portugal between January 27 and February 13, the digital broker Mudey...
The insurance company GamaLife reported a net profit of 32.6 million euros in 2025, half of that recorded in 2024, marking its fifth consecutive financial year with positive results. According to the annual report published this Wednesday, the solvency ratio rose from 246% to 270% at the end of last year, despite the insurer...
The Minister of Economy stated in Parliament that he intends to have “a conversation with insurers” to try to speed up payments following the series of storms. He acknowledged that the “compensation process for people whose homes were affected is proceeding in a very uneven manner” and regretted that there are “municipalities that are much slower and some ...
Sabseg, an insurance broker, and Sabcrédito, an intermediary specialising in credit, have formalised a partnership that will provide private and corporate clients with a coordinated model for managing insurance and financing solutions, they announced in a statement. Clients will now benefit from integrated advice: Sabseg will handle the identification and contracting of coverage...
The Minister of Economy, Castro Almeida, announced in Lisbon that the government will provide financial support to vulnerable households for the new mandatory catastrophe insurance on homes and factories, part of the Portugal Transformation, Recovery and Resilience (PTRR) programme. While specific amounts remain to be defined by decree, the minister highlighted the creation of a catastrophe fund financed by these mandatory premiums. The PTRR, with a total budget of 22.6 billion euros over nine years, aims to address recovery needs following recent storms.
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The Portuguese Association of Insurers acknowledges that some property owners may not be able to afford the multi-risk insurance that is becoming mandatory.
The establishment of a 'natural and seismic disaster fund, with a reform of the risk coverage regime and the creation of mandatory insurance for homes, supported by a solidarity mechanism to ensure universal access' is one of the first measures provided for in the PTRR – Transformation, Recovery and Resilience Plan, presented this Tuesday by the Government.
From 2023 to 2025, Simplefy, a community of credit intermediaries, has quintupled the number of intermediaries in its network.
We already know that the storms at the beginning of the year left a trail of destruction in Portugal. But they also left figures that are hard to ignore. Almost 240,000 homes affected; more than 185,000 insurance claims filed; losses expected to exceed one billion euros. But there is one piece of data worth highlighting: more than half of...
Innovarisk relaunched new home insurance solutions this Tuesday, aimed at clients with high-value assets. The launch aims to address the limitations of traditional market policies, particularly regarding conditions, insured capital, and exclusions, while introducing new coverage. The new offering updates capital amounts to account for recent years.
The Portuguese Association of Insurers, through the APS Insurance Knowledge and Learning centre (CASA), has announced the 'Condominiums (and) Insurance' course, which will take place online from 15 to 23 April. The aim of this training is to provide knowledge about the mandatory and optional insurance policies that condominiums should consider, covering aspects...
Two months after Storm Kristin, there are still people waiting for a response from their insurance. There are displaced people who have not even been visited by insurance adjusters. And there are also property owners forced to proceed with repairs at their own expense to prevent further damage.
The insurance sector has already paid 41% of claims related to damages caused by the series of storms that hit the country between January and February, totaling over 260 million euros. The figure was revealed this Thursday, the 26th, by the Portuguese Association of Insurers (APS), which revised its estimate of the total amount of compensable claims upwards to one billion euros. This significant update is due to the fact that claims continued to arrive throughout March, even though the storm damage occurred between January 27 and February 13. Specifically, there were over a thousand claims per day in March. About 180,000 claims were registered by March 20, forcing insurers to close cases at a rate of 1,500 per day, according to the APS. Of that total, more than 75,000 have already received payments or advances. Housing damage accounts for the lion's share of claims, reaching 150,000 and representing 442 million euros in compensation. However, the largest share of funds, 443 million euros, is allocated to the repair and recovery of businesses, shops, and construction sites. For the 12,000 cases where car insurance was triggered, compensation amounts to 34 million euros. The APS explains that many other claims are accepted but pending payment due to external factors, such as waiting for final quotes, proof of ownership, IBAN details, or the completion of repairs and invoicing. Some cases are also delayed by third-party interventions, such as co-ownership issues or mortgage creditor involvement. The APS notes that the exceptional volume and complexity of the claims make the analysis process more demanding, but the sector remains committed to streamlining procedures and providing advances on final payments.
In January and February 2026, the number of quote requests for multi-risk home insurance (MRH) nearly doubled compared to the same period last year, according to data from Mudey, a Portuguese insurtech that aggregates insurance from around 20 insurers operating in Portugal. According to Mudey, the increase in...
Following the devastation caused by the series of storms that hit the country, Portugal is still in the reconstruction phase in the most affected areas. Given that these regions are currently being rebuilt, Allianz has decided to offer a 20% discount on its Construction and Assembly insurance. Designed to protect construction and assembly projects, ...
Hiscox Portugal has made its Holiday Homes insurance available on its MyHiscox digital platform, enabling brokers to quote and issue the product directly online. The measure aims to simplify broker access to a specialized solution for protecting second homes in Portugal. The product was developed specifically for properties.
Insurance companies have paid 42 million euros out of a total of 360 million already acknowledged, reports the ASF.
The helpline aims to answer queries about payment moratoria, insurance, damage to homes and adjustments to service billing.
A substantial share of economic actors lacks insurance cover against physical climate risks, according to the Insurance and Pension Funds Supervisory Authority.
The executive has still not been able to estimate the “overall value” of the losses, says it “will fulfil its solidarity obligation” but refers the main response to insurers.
Castro Almeida believes that “the State can step in subsidiarily, as a complement to insurance”.
The Portuguese Association of Insurers (APS) is gathering information from companies in the sector to establish the impact of Storm Kristin with regard to damages covered by insurance, a spokesperson for the organisation told Lusa.
The Portuguese Insurers' Association (APS) is collecting information from companies in the sector to ascertain data on the impact of Storm Kristin “with regard to damage covered by insurance”, an official source from the entity told Lusa. The same APS source, the association that represents more than 99% of the national insurance market, indicated that "the ...
The Ageas Portugal group, through the brands Ageas Seguros, Seguro Directo and Ocidental, recorded 170 incidents up to 14:00 on Wednesday following storms Ingrid and Joseph and the most recent depression Kistrin that is battering mainland Portugal. Ageas reported that the storm caused hundreds of incidents across the country, ...
A two-and-a-half-year study will map Portugal, combining hazard, exposure and building vulnerability to quantify losses in euros and reduce protection gaps. Fidelidade presented the study on Wednesday; it aims to change how Portugal assesses the risk of wildfires by creating the country's first national street-by-street fire map.
