Angolan insurance sector has room to grow

16 August 2007

Luanda, Angola, 16 Aug – the stability of Angola’s main macroeconomic indicators and the institutionalization of money markets and Stock Exchange will drive the growth of the country´s insurance sector, the director-general of the Institute of Insurance Supervision , Fernando Aguiar said in Luanda Wednesday.

Aguiar said this was based on the dissemination of insurance and pension fund culture in the country, the diversification of its products, as well as the existence of increasingly efficient regulatory mechanisms for the activity.

Speaking to Angolan news agency Angop, Aguiar said that the development of the insurance and pension fund market had generally been in line with the opening up of the sector to private investment.

Angola’s financial market currently has six insurance companies, three pension fund management companies and seven brokerages. (macauhub)