Insurance Companies
Original title: Companhias de Seguros
Short history of insurance companies in Funchal, from failed attempts such as the 1877 Companhia de Seguros Madeirense to the founding of the Companhia Aliança Madeirense in 1891 and the Garantia Funchalense in 1906.
Several attempts were made to found an insurance company in this city, but all of them failed. Only in 1891 was the idea realised, with the founding of the Madeiran Alliance (Aliança Madeirense) company, which we have already discussed in a separate article in this Elucidário, since it was the first that could be successfully organised here in Madeira.
A pamphlet printed in 1877 under the title Companhia de Seguros Madeirense gives us news of one of these fruitless attempts. An organising committee was actually formed and carried out various tasks to fulfil the mandate entrusted to it, but the company could not be established, for reasons wholly unknown to us. Later, and before 1891, further attempts were made, which also failed.
In 1906 a new insurance company, named the Funchal Guarantee (Garantia Funchalense), was founded in Funchal. It has made appreciable progress and is in a prosperous state.
In this article
Time
Years mentioned · 03-
A pamphlet, Companhia de Seguros Madeirense, recorded an unsuccessful attempt to found an insurance company in Madeira.
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The Companhia Aliança Madeirense, the first insurance company successfully organised in Madeira, was founded by deed with a capital of 200 contos.
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The insurance company Garantia Funchalense was founded in Funchal.
Place
Places mentioned · 01
- Funchal
The city where the insurance companies were attempted and founded.
The capital of the archipelago and seat of the principal captaincy, where settlement began; it was made a vila c.1451–52. Its bay, the widest in the archipelago, lies between Ponta do Garajau and Ponta da Cruz and offers sheltered anchorage, though its harbour had never been studied oceanographically. The Elucidário discusses it as a health resort with climate data and records the January 1906 disturbances, the Danish prince's visit in May 1846 and recent volcanic cones in the area.