ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage



Home » News » Economy

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.

Send by email

To share this news by email, fill out the information below and click Send


To report errors in the texts of articles published, fill out the information below and click Send

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.

Tags Seguros  

Read also
  • 04/11/2019 18:47:00

    Royal Seguros holds 1st arbitration convention

    Luanda - Royal Seguros and the Angolan Association of Insurance Mediators (AMSA) are holding on 22 November the 1st Insurance Mediators Convention, with a view to training agents and promoting insurance activity in Angola.

  • 22/10/2019 17:26:30

    Media library and ARSEG sign agreement

    Luanda - A cooperation agreement aimed at promoting mechanisms to promote literacy in the area of ​​insurance and pension funds was signed this Tuesday in Luanda by the Angolan Media Library Network (REMA) and the Angolan Agency for Insurance Regulation and Supervision (ARSEG).

  • 02/10/2019 19:02:45

    Fortaleza sells travel insurance online

    Luanda - Insurance company Fortaleza launched on Tuesday, the sale of travel insurance via the Internet, through a platform available on the company's website, which operates 24 hours a day.