Insurance on import of goods offered in Angola

7 June 2016

Insurance on importing goods will be available in Angola, unlike what happens currently, said recently in Luanda the chairman of the Regulatory Agency for Insurance and Pension Funds (Arseg).

Aguinaldo Jaime also said that an Angolan reinsurance company could be set up, “for which we will call on all the insurance market operators, with a view to retaining risks in the country that nowadays are reinsured abroad and which require spending foreign currency.”

Speaking at the launch meeting of Royal Seguros, a new company in the sector, the president of Arseg said that the insurance market has been growing in Angola, now totalling 21 companies, “a figure that poses challenges to the regulatory agency, the operators and consumers.”

The Secretary of State for Finance, Valentina Filipe, cited by newspaper Jornal de Angola, revealed that the amount of premiums in the sector is estimated at 103 billion kwanza (US$618 million), with an amount of direct insurance claims of 39 billion kwanzas.

Royal Seguros will operate in the fields of life and real insurance, offering fire, housing, automobile, transportation, and agriculture and travel coverage, among others. (macauhub/AO)