On September 25, 2026, the Board of Directors of the Portuguese competition authority, known as AdC, made a significant decision regarding the merger operation Ccent/2026/67 involving Allianz Portugal and Caravela.

Exercising its powers under the relevant statutes, the authority approved a decision of non-opposition to the merger. This decision was based on the assessment that the merger is not likely to create significant obstacles to effective competition within the national market or in a substantial part of it.