Introduction of agricultural insurance in Angola still being studied

30 September 2019

The introduction of agricultural insurance in Angola, studies for which are ongoing, provides for the sharing of risks between the state and insurance companies, an initiative that will allow greater investment in this activity, said the chairman of the Angolan Agency for Insurance Regulation and Supervision (Arseg).

Aguinaldo Jaime, who was speaking at the event to celebrate the 21st anniversary of Arseg, explained that the work is being done with the help of international consultants specialising in this field and aims to identify the risks in agricultural activity for the introduction of this system of risk-sharing in this sector.

“If agricultural insurance is considered important, then structured studies need to be done so that it is not unfeasible,” said the Arseg chairman, noting that agriculture is an activity fraught with risks, from pests, climate situations, among others.

In April 2017, the chairman of Angola’s state-owned ENSA Seguros, Manuel Gonçalves, announced that the provinces of Huambo, Malanje and Bengo had been selected for the experimental phase of Agricultural Insurance that would begin to be sold in Angola in the 2017/2018 agricultural campaign.

At the time, ENSA was designated as the leading insurer of this agricultural co-insurance, in which several insurance companies will be involved. In the first phase, two pilot projects will be carried out on small and large farms. (Macauhub)