Real Vida sees a 17% increase in business turnover
Insurer Real Vida saw 17% growth in 2019 compared to 2018 although its branch Vida which represents 98% of its business, fell 14% in Portugal.
With a distribution based on insurance intermediaries, Real Vida has gained a position in the overall ranking of insurers in Portugal, rising to 19th position in 2019, with a market share of 0.9% corresponding to around €108 million.
In the life insurance segment it stands at 11th place with a market share of 1.5%, representing €103 million. For 2020 the company says it is too early to evaluate the impact of the Covid-19 crisis, but currently expects a fall in business and reduced profitability for its investments reports online business news source ECO.
Real Vida Seguros, headed by Joaquim Branco and founded in 1988 by a group of shareholders from the North in Portugal and has its headquarters in Porto, — was acquired by Patris Investments In September 2013 from Parparticipadas, a company wholly owned by the State through the Directorate-General of the Treasury and Finances. In December 2016, Real Vida Seguros completed the acquisition of 96.48% of the share capital and voting rights of Banif Pensões – Sociedade Gestora de Fundos de Pensões S.A. (a pension fund management company).
It also acquired all of the share capital of Finibanco Vida. During the second quarter of 2017, Real Vida Seguros acquired all of the share capital and voting rights in Real Vida Pensões and in December of that year Real Vida Pensões was merged with Real Vida Seguros , S.A. becoming the new pension fund management company.