Value of insurance premiums in Angola set to triple by 2017

18 June 2013

The value of insurance premiums in Angola is expected to triple by 2017, said the chairman of state insurance company ENSA – Seguros de Angola, Manuel Gonçalves, cited by Angolan news agency Angop.

On the sidelines of a meeting on the company’s strategy, Gonçalves said that it was possible to project, based on a moderate scenario, that the premiums in Angola would triple in the next four years.

As well as ENSA, which has a market share of between 30 and 40 percent, Angola’s insurance market has five other insurance companies: Universal Seguros, Angola Agora e Amanha (AAA), Global Seguros, Mundial Seguros and Nossa Seguros.

Referring specifically to ENSA which, unlike other state companies has total managerial and financial autonomy, Gonçalves said that the company had turnover of 35.5 billion kwanzas (US$368 million) in 2012. (macauhub)