Insurance premiums in Angola may total US$1 billion this year

27 April 2012

Insurance premiums in Angola may this year reach a total of US$1 billion, which is the highest amount since the sector was liberalised in 2001, the chairman of the board of insurance regulator Instituto de Supervisão de Seguros (ISS) said Thursday in Luanda.

Speaking to Angolan news agency Angop, Fernando Aguiar also said that this was very significant growth when compared to the insurance premiums of US$86 million paid in 2001.

Angola has 10 licensed insurance companies, 17 brokerages, 21 pension funds managed by four specialised companies and other pension funds managed by an insurer.

The ISS is the national regulator of insurance and reinsurance, pension funds and insurance managers and brokers and is responsible to the Finance Ministry. (macauhub)