Evolution of Insurance Activity - 3rd quarter 2019
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%.
President of ASF at the conference "The challenges of the insurance industry".
The President of ASF, Dr. Margarida Corrêa de Aguiar, delivered the closing speech of the conference "The challenges of the insurance industry" which took place on 24 October 2019 in Lisbon.
In her speech, the President of ASF considered the major challenges currently facing the insurance industry as "real paradigm shifts", which impose "the insurance industry's obligation to always be "one step ahead" of consumer needs, as a way to actively participate in economic and social development".
Complaints Management Report
The Insurance and Pension Funds Supervisory Authority publishes its Complaints Management Report for the first half of 2019.
In the period from January to June 2019, the ASF received 4,633 complaints, a number close to that recorded in the same period of the previous year. The majority of the complaints were submitted directly to the ASF by email and only around 25% of the complaints were made in the Complaints Book, the latter being sent to the ASF via, above all, the Operators' Portal.
The Non-Life lines presented the highest percentage of complaints (around 89%), with emphasis on motor insurance, which represents around half of the cases closed, reflecting the trend presented in the same period of previous years. In the Life branch and pension funds as a whole, almost all the complaints processes were related to life insurance itself, with "financial insurance" having a very low profile.
President of ASF in Financial Training Week 2019
From 28 to 31 October, the Financial Formation Week 2019 took place, under the slogan "In Financial Formation Everyone Counts", and which this year took place in the region of Trás os Montes. Throughout this week, financial supervisors developed initiatives aimed at different target audiences, together with their closest strategic partners.
Also representing the President of the CNSF, the President of ASF, Dr. Margarida Corrêa de Aguiar, was present at the award ceremony for the winners of the 8th edition of the All Count Contest, which took place at Emídio Garcia Secondary School, in Bragança, having also participated in the closing of the dissemination and assessment session of the trainers' training programme held together with the financial supervisors, an initiative of the Institute for Employment and Professional Training which took place at the Bragança Employment and Professional Training Centre.