Sat, 11 Jan 2020 12:03 - Updated Sat, 11 Jan 2020 12:03
Insurance sector grows 36%
Luanda - The volume of insurance premiums accumulated in the period that that goes from 2014 to 2018 reached 582.1billion kwanzas, representing a growth of 36% in comparison to the previous period.
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According to a report provided by the Angolan Insurance Supervisory Agency (ARSEG), these data show a positive and gradual evolution, with Non-Life insurance contributing about 98% (570.7 billion Kwanzas), and Life insurance with only 2% (11.3 billion Kwanzas).
Despite the growth, explains the document, in 2016 the sector registered a fall, due to several factors, such as the economic crisis.
Regarding indemnities, in the period under review (2014-2018), the insurance sector disbursed 6.2billion kwanzas to reimburse life insured and 255.7 billion kwanzas for the “No Life".
The ARSEG report states that in this period, the volume of indemnities grew by 65%.
As regards the premiums issued, the weightings of the compensation fall essentially on Non-Life Policies, representing over 90% of the total. In this area, it is highlighted Accident, Sickness and Travel insurance (with special focus on the weight that the Health policy has been gaining) and car insurance.
Meanwhile, the insurance premium in the petrochemical sector has been gaining weight, while car insurance policies have declined due to the crisis context that the country has been experiencing since 2014.
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