Claims in Mozambique cost insurers US$30 million in 2nd quarter

3 December 2014

Insurance claims in Mozambique in the second quarter cost insurance companies US$30.3 million, an increase of 62 percent over the same period of 2013, according to figures presented Tuesday in Maputo.

The figures, issued at the 2nd Seminar on insurance sector legislation, showed that the costs of repair claims, totalling 965.8 million meticais, 803 million were for the non-life segment and 162.7 million for the Life segment, increases of 133 percent and 52 percent, respectively.

The same figures, cited by daily newspaper Notícias, note the highest growth in the non-life insurance segment occurred in transport, and that there was a considerable decrease in the civil liability segment.

The automotive segment made the largest number of claims and accounted for around 51.8 percent of the total in the second quarter, an increase of 47 percent from the first to the second quarter. (macauhub/MZ)