Is the word prêmios the same in Brazilian and European Portuguese?

No

The difference between the two varieties lies in spelling and pronunciation.

• Spelling: In Brazilian Portuguese, the word is spelled with a circumflex accent (prêmio), which indicates a closed vowel sound. In Continental Portuguese, it is spelled with an acute accent (prémio), indicating an open vowel sound.
• Pronunciation: Because of the different accents, a Brazilian will pronounce the "e" as a closed sound (/e/), whereas a Portuguese person will pronounce it as an open sound (/ɛ/).
• Meaning/Usage: The semantic meaning remains the same (prize, award, or insurance premium), though the choice of surrounding vocabulary (like "loteria" vs "lotaria") may vary.

Brazilian Portuguese Examples

1. Ela ganhou o primeiro prêmio da competição. (She won first prize in the competition.)
2. Os prêmios da loteria são muito altos. (The lottery prizes are very high.)
3. O valor dos prêmios de seguro aumentou. (The cost of insurance premiums increased.)
4. A empresa distribuiu prêmios para os funcionários. (The company distributed bonuses/prizes to the employees.)
5. Ele recebeu vários prêmios de literatura. (He received several literary awards.)

Continental Portuguese Examples

1. Ela ganhou o primeiro prémio da competição. (She won first prize in the competition.)
2. Os prémios da lotaria são muito altos. (The lottery prizes are very high.)
3. O valor dos prémios de seguro aumentou. (The cost of insurance premiums increased.)
4. A empresa distribuiu prémios para os funcionários. (The company distributed bonuses/prizes to the employees.)
5. Ele recebeu vários prémios de literatura. (He received several literary awards.)