# CARAVELA – COMPANHIA DE SEGUROS, S\.A\. > Simple, transparent insurance adapted to Portuguese customers \-\- protecting what matters most\. ## At a glance | Field | Value | | --- | --- | | Type | Carrier | | Region | EMEA | | Headquarters | Lisbon, Portugal | | Founded | 1996 | | Stage | Established | | Employees | 101-200 | ## Overview Caravela Companhia de Seguros, S.A. is a Portuguese non-life insurance carrier headquartered in Lisbon. Founded in 1996 and acquired from French mutual Macif in 2014, the company has grown its premium volume tenfold over the decade to reach EUR 187.7 million in gross written premiums in 2024 -- a 17.1% year-on-year increase that outpaced the broader Portuguese non-life market. The company holds 9th place among non-life insurers in Portugal with approximately a 2.2% market share. Its ambition is to break into the top 5 by expanding into Life and Health segments alongside continued growth in its core personal lines. With a productivity ratio exceeding EUR 1.2 million in premiums per employee -- the highest in the Portuguese non-life market -- Caravela operates a lean, digitally-enabled model. In early 2026, majority shareholder Toscafund Asset Management (48% stake) appointed Mediobanca to explore a potential sale of the company, reflecting the growing profile of the business among European insurance investors. ## Links - Website: - Directory profile: - Facebook: - Annual report 2024: - Solvency report 2024: --- *Last updated: 2026\-05\-11*