Insurance activity evolution - 1st Quarter 2016 In the 1st quarter of 2016, direct insurance carried out in Portugal by insurance companies under ASF supervision decreased 27.6% over the same period last year, standing at about 2.64 billion euros.
In this context, attention is drawn to the 5% growth in non-life, significantly bolstered by the 13.1% increase in Accidents at Work.
In March 2016, the coverage ratios of the Solvency Capital Requirement (SCR) and of the Minimum Capital Requirement (MCR) stood at 119% and 355%, respectively.
Insurance activity evolution
Decision not to oppose the acquisition of qualifying holdings
The ASF decided on June 27th, 2016, not to oppose the proposed acquisition by Companhia de Seguros Tranquilidade, S.A., whose parent company is Apollo Global Management, LLC, of a direct qualifying holding representing the entire share capital and voting rights in Açoreana Seguros, S.A..
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