No In the third quarter of 2019, global direct insurance production related to the activity in Portugal decreased around 2.1% when compared to the same quarter of 2018.
It should be noted, however, that Non-Life business has shown a positive evolution in recent years (5.4%, 7.2% and 8.1% in the first nine months of 2017, 2018 and 2019, respectively). The Life branch, more volatile, registered a decrease of 8.4% (it should be noted that in September 2018 it had shown a growth of 24.1%).
In September 2019, the value of investment portfolios of insurance companies under the prudential supervision of the Insurance and Pension Funds Supervisory Authority totalled 53.7 billion euros, representing an increase of 7% compared to the end of the year. In the same period, technical provisions, which totalled more than 47 billion euros, grew by 7.4%.
The coverage ratios of the Solvency Capital Requirement (SCR) and the Minimum Capital Requirement (MCR), in September 2019, stood at 169% and 458%, reflecting reductions of 11 and 55 percentage points, respectively, compared to the end of 2018.
Insurance Activity Evolution Report - 3rd Quarter 2019