The Angolan provinces of Huambo, Malanje and Bengo were selected for the experimental phase of Agricultural Insurance, which will begin to be sold in the country during the next agricultural season (2017/2018), announced the president of state-owned insurance company ENSA Seguros de Angola.
Speaking to Angolan news agency Angop, Manuel GonÃ§alves said that agriculture is a fundamental sector for the process of diversification of the Angolan economy, leading to the need to launch this insurance.
ENSA was designated as the leading insurer for this agricultural co-insurance, in which several insurance companies will be involved and in the first phase two pilot projects will be implemented in small and large farms.
The president of ENSA recalled that the launch of agricultural insurance involves an analysis of several factors related to the climate in Angola, such as rainfall, so that premiums can be adapted to the product and the reality of the country.
Saying that agriculture is a high-risk activity because of droughts and sometimes torrential rains that can devastate all crops or harvests, GonÃ§alves called for the state to be involved in this process in order, together with insurance companies, to take over responsibility for risks.
ENSA is a leading Angolan state-owned company in the insurance market, operating in the life and non-life segments and in the creation and management of pension funds. (macauhub)