Lloyd’s has been authorized in Portugal to transact business on a freedom of services basis since 1993 for all classes of business. In April 2009, Lloyd’s received authorization to write insurance business in Portugal on a freedom of establishment basis for all classes except motor liability and life business.
According to the figures of the 2011 Sigma/SWISS RE report, the Portuguese non-life insurance is the world’s 34 and Europe’s 15 largest insurance market. Lloyd’s gross premiums were more than €32m in 2011.
It is a requirement of the freedom of establishment authorization to establish a branch in Portugal and appoint a General Representative. Lloyd’s appointed Juan Arsuaga as the General Representative in Portugal.
Juan Arsuaga is responsible for managing the branch of Lloyd’s in Portugal; raising the profile of Lloyd’s and assisting the market to develop their business in the Iberian Peninsula. Previously, Juan was Chairman and CEO of Willis Portugal. Juan has more than 18 years experience in the insurance business and has first hand knowledge of both the Spanish and Portuguese insurance markets. He is also fluent in Spanish, English, French and Portuguese. You can watch an interview with Juan on our homepage and a read a personal message at Latest from Portugal.