Insurance companies have room to grow in Angola

4 March 2015

The rate of insurance penetration in Angola is very low, of just 0.80 percent, the president of the Insurance Regulation and Supervision Agency (Arseg), has said in Luanda.

Aguinaldo Jaime, who was speaking at the launch of a new insurance company Proteja Seguros, said the sector’s progress in the economy was insignificant and said it there was a need to create more such companies, although there are already 15 licensed and operating insurers.

“The government can also promote the emergence of more operators, since the market is promising,” said Jaime.

The new insurance company started operating in 2014 with the introduction of car and travel insurance and now plans to expand by opening more branches in Luanda this year and in Benguela, Huila and Huambo in 2016. (macauhub/AO)