Creation of the Insurance Guild
The legal existence of the Insurance Guild is materialized by the Decree-Law 24041, of 20th June1934.
The diploma of incorporation makes it compulsory for all Portuguese and foreign companies that exercised or would exercise the social activity in Portugal to register with the Guild, giving it the structure of a corporate entity, under the terms in which Decree no. 23049 of 23rd September 1933 defined it institutionally as representative of the employers of an economic sector.
The first Board of the Guild, elected by the associated companies, was made up of the insurers Fidelidade (Marcelo Caetano), Ultramarina (Artur Pereira Rodrigues) and British Oak (Alberto de Melo e Sousa).
1934 – The commission for the study of Fire, Automobile and Accidents at Work branches was created.
1935 – The tariffs and policies of the Automobile and Civil Liability branches were created and standardised, and were approved, with minor alterations, at the General Meeting on 28th November.
The first official Fire tariff was approved on 26th September and ratified by Order of 16th December.
1936 – The reform of the Statutes of the Insurers’ Guild is ratified by Decree-Law no. 26484 of 31st March.
It also introduced the Insurance Guild with the creation of the technical committee for Robberies, Strikes and Tumults and Personal Accidents branches.
It is signed by the Insurers’ Guild and the National Unions of Insurance Professionals of the Districts of Lisbon and Oporto – The first Collective Labour Agreement.
Chronologically there was all relevant activity in such matters as the creation of technical commissions, tariffs, among others.
The Insurers’ Guild has produced a relevant periodic publication, which included the report of its activity, legislation, jurisprudence, studies, information on insurers and reinsurers and a series of useful information for policyholders, insurers and all those interested in the subject.
The symbol of the Insurance Guild: on the cross of the order of Christ, a stylised eagle with open wings, sole, with its head turned to the left and holding a chain in its claws