It is on Avenida da Liberdade in Lisbon, the headquarters of the owner of the Logo or T Life is located. A company that has origins in Porto. So far, the property was the Holy Spirit. Soon move to the Apollo Management.
Insurance Tranquility. So called the insurance company that for decades has been under the ownership of the Portuguese family Holy Spirit and that is about to pass into American hands. Avenida da Liberdade 242, Lisbon, is the seat.
It was not always thus. ‘Tranquility Porto Insurance – Insurance against Fire.’ Was the name that appeared on August 22, 1871 In Port
Fire protection in those late nineteenth century, was the first incursion of the company safe. Then there came to be the focus on maritime segment. Over 100 years later, the Insurance Company Tranquility (who won the name that still employs 1935) offers a range of larger us safe.
The Tranquility has no life services branch, like car insurance or housing. The T Life is up by life insurance services. There is also the BES Seguros (sold to BES branches, now New Bank) and the Logo, exclusive of telephone or internet lines. AdvanceCare, manager of health services, is also part of the services provided by the online company whose chief executive officer is Pedro Brito e Cunha.
Brito e Cunha belongs to the Holy Spirit (is prime Ricardo Salgado), the
143 years of history
‘Tranquility Porto Insurance – Insurance against Fire’. It was under this name that Tranquility was born August 22, 1871 in Port
In 1918, José Ribeiro Espírito Santo Silva -. They also became involved in the constitution of Banco Espírito Santo – gave him national dimension
In 1975 it was nationalized.. Returned to the Holy Spirit Family at the beginning of the 90s
With the demise of the Holy Spirit Group, is about to move on to the mãoes American Apollo.
family that gave national dimension to Tranquility. Entering as a reference shareholder of Portuguese insurer, in 1918, José Ribeiro Espírito Santo Silva – who was also involved in the formation of Banco Espírito Santo – gave him national. It was the manager who signed the contract to be in many regions of the country, below the Mondego, which was not yet this agent.
National Dimension
They were thereby laying the foundations for the insurer could become the second largest non-life business in Portugal, behind Fidelity, which belonged to the CGD and is now in the hands of Chinese Fosun. In 2013, the services of Tranquility yielded net income (profit) of € 19 million, a figure 3.1% higher than in the previous year. And, despite the decline in market share to 8.3%, managed to keep the position in the general classification. Assets amounted to EUR billion, the liability to 642 million, says the report and accounts.
The company, whose chairman of the board is Leo Rui Martinho, not always in the hands of the Holy Spirit . As the BES was also nationalized in 1975 following political movements of the post-25 April 1974 In the early 90s, and again as the bank returned to the private sector by the hand of its former owners: the Holy Spirit.
It was in the possession of the family for over 20 years. And while away from BES with respect to the shareholder structure (the insurer is fully owned since 2000 by Partran, the Espírito Santo Group, while the bank was quoted on the stock exchange), has always maintained strong links with the financial institution then led by Ricardo Salgado. With the sale of BES Seguros to the bank counters.
In 2014, ownership of the Tranquility is about to change. The company was given as collateral by Espírito Santo Financial Group a credit BES A guarantee was not met. And it will be executed. By New Bank, which inherited the assets considered good BES. This is how the company passed to the hands of Apollo, for € 50 million (without debt).
The Americans will be 35 stores of Tranquility, which have 380 exclusive agents and 1,400 agents independent. Also with an international presence. The insurance company has a presence in Spain, Angola, Mozambique, Cape Verde partnerships and participations in Europ Assistance in Brazil, Chile and Argentina.
For 2014, according to the annual report on the accounts last year, one of the objectives was “to consolidate international operations in Spain, Angola and Mozambique, capitalizing on the skills, expertise and comparative advantages of Tranquility and BES Group”. The last part, which involves the Group will no longer happen in the second half of the year.
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