Companhias de Seguros

Several attempts were made to establish an insurance company in this city, but all of them failed. It was only in 1891 that this idea materialized with the founding of Companhia Aliança Madeirense, which we have already discussed in a special article in this Elucidario, as it was the first to be successfully organized among us.

A pamphlet printed in 1877 with the title Companhia de Seguros Madeirense, provides information about one of these unsuccessful attempts. An organizing committee was formed, which carried out various tasks to execute the mandate entrusted to it, but the company could not be organized for reasons that are completely unknown to us. Later, and before 1891, other attempts were made, which also failed.

In 1906, a new insurance company was founded in Funchal, called Garantia Funchalense, which has made significant progress and is in a prosperous state.