Assets of Angolan insurance sector top US$1 billion

9 August 2017

The assets of the Angolan insurance sector, with 26 licensed companies, surpass US$1 billion, the head of the Insurance Regulation and Supervision Agency (Arseg) said on Tuesday in Luanda.

Aguinaldo Jaime said the sector had been experiencing a period of growth, adding that Arseg’s concern was to make sure the growth was sustained, to thereby avoid risk for companies operating in the market and for consumers who use the sector to protect assets. He made his comments on the sidelines of a seminar focusing on challenges to the sector.

“It is necessary to guarantee operators’ solvability because they are operating with the savings of private individuals. It is likewise important to guarantee that those who take on insurance to protect their lives and property are sufficiently protected,” said Jaime, cited by Angop news agency.

Also on Tuesday, the president of Banco Sol formally presented Sol Seguros, an insurance company that will concentrate its activity in the Angolan market, offering “innovative solutions that meet real market needs and expectations.” (Macauhub)