Angola’s state reinsurance company starts operations in 2019

20 September 2018

Angolan national reinsurance company, AngoRe starts operating only in 2019, as the business plan and shareholder composition is still being studied, an official source said on Wednesday in Luanda.

Aguinaldo Jaime, president of the Angolan Agency for Insurance Regulation and Supervision (Arseg), said that AngoRe is expected to retain a significant part of the risks assigned to the international reinsurance market, “an important role in the Angolan and international market.”

The chairman of Arseg reported that international partners interested in joining the reinsurance company, both as shareholders and technical advisors, would be invited “so that the staff of AngoRe can perform their duties.”

Jaime was speaking at the end of a meeting with the special envoy of the British prime minister for trade with Angola and Zambia, Baroness Lindsay Northover, according to the Angop news agency.

Jaime also announced the creation of an insurance academy in 2019 to train Angolan staff, without the need to send those to foreign schools, “which is very expensive.”

The economic feasibility study and the academic curriculum were also being prepared, he said, which will be followed by the recruitment of national and foreign teachers.

The insurance business in Angola has 26 licensed companies, according to the Arseg website. (macauhub)