Ruy de Carvalho

Born to





Honorary President of APS

Ruy Octávio Matos de Carvalho was born in the city of Oporto on March 26, 1932, son of Joaquim José de Carvalho, chairman of the board of directors of the “Insurance Company Garantia” and one of the drivers of the construction of the Coliseu do Porto.

Ruy de Carvalho concludes, in 1956, his degree in Finance by ISCEF – Instituto Superior de Ciências Económicas e Financeiras.


Chronologically, we mention some of the positions he held:

From 1958 to 1975 – Director of Companhia de Seguros Garantia

1976/1982 – Vice-President and Chairman of the Board of Directors of INS-Instituto Nacional de Seguros

1988-1992 – Member of the Council for the Financial System, contributing to the preparation of the “White Paper on the Financial System-1992

From 1982 to 1994 – Still in the eighties, he became a member of the Presidency Council of the European Committee of Assurances (except 1985-86), having been Vice-President between 1988 and 1990.

1995/1997 – Member of the Securities Market Board

1982/1997 – When APS-Associação Portuguesa de Seguradores was founded, he assumed the position of Chairman of the Board of Directors, a position he held until 1997. During the same period he was a member of the Advisory Board of the Portuguese Insurance Institute (ISP), in a personal capacity and as a representative of the insurers


Many were the other, distinct positions that he occupied and valued:

1983-2000 – Member of the Board of Directors of the Association International pour l’Étude de l’Economie de l’Assurance (Association de Geneve), serving as Vice-President in the last years of the term of office

1989-2002 – Vice-Chairman of the Bureau of the Insurance Committee of the OECD, representing Private Insurers

1991/2003 – Chairman of the Supervisory Board of EFACEC CAPITAL, SGPS, S.A.

In 2006, the Presidency of the Portuguese Republic was deservedly honoured by Ruy de Carvalho with the Grã-Cruz – Ordem do Mérito Agrícola, Comercial e Industrial (Order of Agricultural, Commercial and Industrial Merit), by charter of 7 March 2006, published in DR no. 96 of 18 May 2006 (II series).


In terms of his intervention, for the defence of the insurance memories:

On March 3, 2017, the CHAPAS-Clube História e Acervo Português da Actividade Seguradora (History and Portuguese Collection of the Insurance Activity) awards him the title of Honorary Member

From 2017 to 2018 – President of the Installation Committee of EPMS – Permanent Insurance Memory Exhibition


Some of his works:

“Seguro 2000”: Portuguese Association of Insurers – 2002 – (Perspectives). – ISBN 972-95976-9-3

“5 insurance topics.” Portuguese Association of Insurers – 2002 – (Perspectives). – ISBN 972-95976-8-5

“A Brief History of Insurance – From the Background to the End of the 17th Century”, National Mint Press, in a joint edition between INCM and APS – ISBN 978-972-27-2424-1

“O Seguro em Portugal – Facts and Stories 1974-2007”, Imprensa Nacional Casa da Moeda, in a joint edition between INCM and APS – ISBN 978-972-27-2425-8


Some of his articles:

“Na futura Europa qualidade será trunfo” – Égide Revue, nº 38 (1990)

“O Euro e a atividade seguradora” – O Economista – Lisboa, nº 11 (1998)

“Novos contornos do sistema segurador 2000” – Fórum Revue – ISP, nº 12 (2000)

“O seguro em tempo de IAS” – “APS Notícias ” – nº 5 (Junho 2004)

“Acerca das antigas leis de seguros“ – Fórum Revue – ISP – n.º 24 (2007)