The general framework for the pursuit of the business of insurance was first established in Portugal by Decree, in 21st October 1907. This same Act also introduced the Conselho de Seguros (Insurance Council), to ensure the coordination and monitoring of the sector.
The Conselho de Seguros was led by the Chairman of Caixa Geral de Depósitos and consisted of two commercial court judges plus one accounting teacher and one financial operations teacher from the Instituto Industrial e Comercial de Lisboa (the Lisbon Industrial and commercial institute, the first economics school in the country).
Among other initiatives, the commemoration of the Centenary included:
- The organisation of an International Conference
- The re-edition of the first Treaty of Merchants' Pledges and Insurance, by Pedro de Santarém.
- The production of a Medal commemorating the Centenary
- A Special Edition of ISP's Fórum Magazine