Turnover at Empresa Moçambicana de Seguros rises 1.29 pct in 2009

2 March 2010

Maputo, Mozambique, 2 March – Mozambican insurance company Empresa Moçambicana de Seguros (Emose) in 2009 posted turnover of 785 million meticals, or 10 million more than in 2008, representing a year on year rise of 1.29 percent, the company’s chief executive, César Madivádua said.

Emose, which is almost 80 percent-owned by the Mozambican state, is one of the biggest real estate managers in Mozambique, with almost 100 properties, mainly buildings across the country and some in Portugal.

Madivádua noted that over the last four year the insurance company had invested around 3 million meticals in maintaining the buildings it managed as a way of increasing revenues from its real estate business.

In terms of the company’s main business area, which is insurance, Madivádua said that since 2006, Emose had seen positive results, with short term insurance (vehicle, accidents at work, personal indemnity, amongst others) making up most of the company’s revenues. (macauhub)