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Toscafund weighs sale of Portuguese insurer Caravela
Yahoo Finance· 2026-01-20 14:21
Group 1 - Toscafund Asset Management, holding a 48% stake in Caravela Seguros, is considering divesting its interests in the Portuguese non-life insurance provider [1][2] - Toscafund initially invested €30 million ($34.9 million) in Caravela Seguros at the end of 2019 as part of a capital increase [2] - Caravela Seguros reported gross written premiums of €187.7 million in 2024, reflecting a 17% increase from the previous year [3] Group 2 - Caravela Seguros holds a 2.2% market share, ranking ninth among non-life insurers in Portugal according to data from the regulator ASF [3] - The insurer's portfolio includes various policies for individuals and businesses, covering health, liability, motor vehicles, property, travel, and workplace accidents [3]