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Portugal: Insurers' first quarter 2014 profits up 11.7% to $210.7 million

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Insurers that are members of the Insurance Institute of Portugal reported €153 million ($210.7 million) in profits for the first quarter of 2014, up 11.7% year on year, reports The Portugal News.

Direct turnover reported by the nonlife players declined 0.8% to €924.3 million ($1.27 billion), while the overall direct insurance turnover increased 23.5% to €3.4 billion ($4.68 billion).

Nonlife insurance payouts fell by 9.3%.

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