Mozambique has another insurance company

30 June 2014

A new insurance company has been officially launched in Mozambique, Diamond Companhia de Seguros, a partnership between entrepreneurs from Mozambique and Zimbabwe, reports the Maputo-based daily Notícias.

The new insurer’s activity has focused on the real and operational segments since last March. “It is in the insurance market to offer short term insurance solutions,” said the company’s chief executive, José Viegas.

The head of the Mozambican Insurance Supervision Institute, Otília Santos, said the new insurance company marked “the culmination of a process led by the investors, thereby joining the 14 insurers who currently carry out their activities in Mozambique.”

Santos also urged Diamond’s managers and shareholders to “offer innovative and quality products,” which should enable the insurer to “contribute toward increasing the overall portfolio of premiums, which in the last five years has posted average annual growth of 26 percent.” (macauhub/MZ)