Market Report, "Non-Life Insurance in Portugal, Key Trends and Opportunities to 2017", Published
Portugal's recessionary economic environment and ongoing austerity measures adopted by the government have created difficult operating conditions for the insurance business in Portugal. The gross written premium of the non-life segment declined at a CAGR of 4.1%, from EUR2.7 billion (US$3.9 billion) in 2008 to EUR2.3 billion (US$2.9 billion) in 2012. Reduction in construction and housing activity, plus declining automobile sales put pressure on the demand for property and motor insurance. Motor insurance accounted for 59.5% of the non-life segment's...
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