Portuguese insurance market premium volume up by 24.2%

Portugal premiums rise to €3.43bn • Sistema Mapfre profits up 19.3% • RSA rules out further Chilean acquisitions in 2006

Direct premium income in the Portuguese insurance market increased by 24.2% to €3.43bn (US$4.37bn) during the first quarter of 2006, according to a report released by the Portuguese Insurers Association (APS). APS membership accounts for 97% of the market’s premium income.