Hiscox is to expand into the Portuguese insurance market with the launch of a new high net worth (HNW) household policy.
The specialist insurer will offer the HNW policy through a network of local brokers, called Villas Boas, which has 22 branches.
Hixcox aims to capture 10% of the HNW market in Portugal within the next five years.
Chairman of Hiscox Robert Hiscox, said: "Portugal has an established and growing community of high net worth people who own beautiful houses with valuable contents and we want to insure them.
"Hiscox offers the first house and contents policy in Portugal specifically designed to cover higher value houses, contents, antiques and art.
"We understand the needs of the client and have tremendous experience in solving the problems created by claims. Together with Villas Boas, we will offer first class insurance cover, swift and fair settlement of claims, backed by very efficient service."
