Madrid, September 4, 2024.- The Mútua Portuguesa de Saúde (MPS), the first private health insurance mutual established in Portugal, has recently been founded. Its aim is to aid in illness and improve the quality of life for its beneficiaries. It will offer social protection in healthcare and social support, including residential care for the elderly and home care, with no age limit for joining, no exclusion of pre-existing conditions, no waiting periods, and no capital limits on hospitalization and outpatient coverage.
The mutual’s activity will be regulated and supervised by the relevant authority in Portugal, the Insurance and Pension Funds Supervisory Authority (ASF). Membership will be through companies by acquiring mutual capital shares, with employees being the ultimate beneficiaries. It is a solidarity system among the beneficiaries, where contributions are made based on their income.
the first private health insurance mutual established in Portugal
Corporación Financiera Azuaga has been one of the first private entities to become a founding partner of the mutual. With a 17% stake in the capital, it is the second-largest shareholder and the first private capital investor. The founding members of the project are individuals with knowledge and experience of the market and sector in Portugal.
The investment in MPS is part of the Corporation’s sustainable investment line, with a focus on the health, well-being, and education sectors. Corporación Financiera Azuaga aims to invest in the medium and long term in social and welfare projects that improve people’s health and well-being. According to Fernando Morales, president of Corporación Financiera Azuaga, “This mutual comes to fill a gap in Portugal, offering a health solution for all Portuguese workers.” He adds, “The MPS project is a great opportunity to demonstrate our commitment to the Portuguese market and to investments related to people’s health and well-being.”
About Corporación Financiera Azuaga
Corporación Financiera Azuaga is a European financial group established in 2020. It is composed of independently managed companies, specializing in financial services, and also operates as an investment firm. The Corporation has a solid financial standing, with recognized credit quality, reflected in a “BBB” rating with a stable outlook.
Media Contact:
Mónica Vicente – 616 990 286
m.vicente@cfazuaga.com
