Caravela Seguros

The latest milestone is competition clearance. The Portuguese Competition Authority adopted a non-opposition decision on 25 September for Allianz Portugal's acquisition of sole control of Caravela, with a public notice dated 28 September. The case identifies Companhia de Seguros Allianz Portugal as the legal buyer. Completion of the share acquisition remains unconfirmed in the public sources reviewed. ³

Public legal reporting dated 30 July describes an agreement to purchase 100% from Toscafund and other investors, with consideration undisclosed. Caravela's own FY2025 report records €212.4 million of gross written premiums. The legal report describes a distribution network of more than 800 agents and brokers and names Pérez-Llorca for the buyer and Linklaters for the sellers. ^{1, 4}