Angola: Five Companies Top Insurance Market

Luanda — At least five of the 27 insurers operating in the Angolan market concentrate 75 percent of insurance premiums issued in 2018, estimated at 104.8 billion kwanzas.

The companies are Ensa Seguros, Saham Angola, Fidelidade Angola, Nossa Seguros and Global Seguros, which obtained in the last five years a total production estimated at 451.7 billion kwanzas.

The data are expressed in a report by the Angolan Insurance Supervisory Regulatory Agency (Arseg) on the "Insurance and Pension Fund Sector" for the period 2014-2018, which Angop had access to today.

In the same period (2018), the study indicates, the first 10 insurers (including Bic Seguros, Prudential Seguros Tranquilidade Angola, Bonws Seguros, Fortaleza Seguros) concentrated 92% of market output totaling 139.7 billion kwanzas.

Regarding indemnities, in the period under review (2014-2018), the insurance sector disbursed 6.2 billion kwanzas to reimburse life insureds and 255.6 billion kwanzas for the "No Life" .

The Arseg report states that in this period, the volume of indemnities grew by 65%, with a gradual worsening, except for 2015 and 2018, where there were slight breaks.

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