{"id":24669,"date":"2026-01-19T12:17:44","date_gmt":"2026-01-19T12:17:44","guid":{"rendered":"https:\/\/www.insurancejournal.com\/?p=854790"},"modified":"2026-01-19T12:17:44","modified_gmt":"2026-01-19T12:17:44","slug":"toscafund-is-said-to-explore-sale-of-portuguese-insurer-caravela","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2026\/01\/19\/toscafund-is-said-to-explore-sale-of-portuguese-insurer-caravela\/","title":{"rendered":"Toscafund Is Said to Explore Sale of Portuguese Insurer Caravela"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/www.insurancejournal.com\/img\/social\/opengraph\/ij-social-default-1200x630.png\" class=\"ff-og-image-inserted\"><\/div>\n<ul class=\"nav nav-tabs tabs tabs-entry\">\n<li class=\"active\"><a href=\"https:\/\/www.insurancejournal.com\/news\/international\/2026\/01\/19\/854790.htm\">Article<\/a><\/li>\n<li><a href=\"https:\/\/www.insurancejournal.com\/news\/international\/2026\/01\/19\/854790.htm?comments\" rel=\"nofollow\">0 Comments<\/a><\/li>\n<\/ul>\n<div class=\"article-content clearfix\">\n<p class=\"bloomberg\">Toscafund Asset Management and other minority shareholders of Caravela Seguros are exploring a sale of the Portuguese insurer, according to people familiar with the matter.<\/p>\n<p>London-based Toscafund, which owns a 48% stake in Caravela, has hired Mediobanca to advise on a potential sale of its holding, the people said, asking not to be identified because the discussions are private. Caravela\u2019s remaining shareholders \u2014 a group of more than 20 investors \u2014 are also weighing a sale of the company, the people said.<\/p>\n<div class=\"bzn bzn-sized bzn-intext\">\n<ins data-revive-zoneid=\"79\" data-revive-topics=\"carriers\" data-revive-companies data-revive-block=\"1\" data-revive-id=\"36eb7c2bd3daa932a43cc2a8ffbed3a9\"><\/ins> <\/div>\n<p>Spokespeople for Toscafund and for Mediobanca declined to comment. Representatives for Caravela did not respond to phone calls or an emailed request for comment.<\/p>\n<p>Toscafund acquired its stake at the end of 2019, investing \u20ac30 million ($34.9 million) through a capital increase. Other Caravela shareholders include M\u00e1rio Ferreira, chairman and largest shareholder of Portuguese media group Media Capital and the owner of a cruise ship company. Ferreira did not immediately respond to a request for comment.<\/p>\n<p>Caravela\u2019s gross written premiums rose 17% in 2024 to \u20ac187.7 million, according to the company\u2019s latest earnings report. The insurer ranks ninth in Portugal\u2019s non-life insurance market, with a 2.2% market share, according to Portugal\u2019s insurance and pension fund regulator ASF.<\/p>\n<div class=\"copyright-notice quiet\">Copyright 2026 Bloomberg.<\/div>\n<p class=\"tagtag\"> <span class=\"tagtag\">Topics<\/span> <a href=\"https:\/\/www.insurancejournal.com\/carriers\/\" class=\"btn btn-sm btn-primary tagtag\">Carriers<\/a> <\/p>\n<\/p><\/div>\n<div class=\"article-poll\" data-post=\"854790\">\n<div class=\"article-poll-vote\">\n<p>Was this article valuable?<\/p>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-no\">\n<form class=\"feedback-form\">\n<p>Thank you! 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London-based Toscafund, which owns a 48%&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":24670,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[330,1878,24,1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2026\/01\/toscafund-is-said-to-explore-sale-of-portuguese-insurer-caravela.png","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/24669"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=24669"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/24669\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/24670"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=24669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=24669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=24669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}