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The Insurance Industry in Angola, Key Trends and Opportunities to 2022

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    Report

  • 107 Pages
  • September 2018
  • Region: Angola
  • GlobalData
  • ID: 4621375
Description Jump to:
The Insurance Industry in Angola, Key Trends and Opportunities to 2022

Summary

The Author's "The Insurance Industry in Angola, Key Trends and Opportunities to 2022", report provides detailed analysis of the market trends, drivers and challenges in the Angolan insurance industry.

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Angolan economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together The Author's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Inside this report, we look at the top themes, its predictions and identify winners and losers.

This report provides in-depth market analysis, information and insights into the Angolan insurance industry, including:
  • The Angolan insurance industry's growth prospects by segment and category

  • A comprehensive overview of the Angolan economy and demographics

  • Details of the competitive landscape in the Angolan insurance industry

  • The various distribution channels in the Angolan insurance industry

  • Details of regulatory policy applicable to the Angolan insurance industry

  • Analysis of natural hazards in the Angolan insurance industry


Key Highlights
  • As of March 2018, the insurers operate through 98 branches, 36 agencies and 340 brokers in the country.

  • In 2016 and 2017, insurers in association with ARSEG conducted annual financial literacy campaigns in Angola.

  • In 2016, ARSEG, in association with the Ministry of Finance, announced the establishment of the country’s first domestic reinsurer, the National Reinsurance Company (AngoRe).


Scope

This report provides a comprehensive analysis of the insurance industry in Angola:
  • It provides historical values for the Angolan insurance industry for the report’s 2013-2017 review period, and projected figures for the 2017-2022 forecast period.

  • It offers a detailed analysis of the key segments in the Angolan insurance industry, with market forecasts to 2022.

  • It covers an exhaustive list of parameters, including written premium and claims.

  • It analyzes the various distribution channels in Angola.

  • It profiles the top insurance companies in Angola, and outlines the key regulations affecting them.


Reasons to buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Angolan insurance industry and each segment and category within it.

  • Understand the demand-side dynamics, key market trends and growth opportunities in the Angolan insurance industry.

  • Assess the competitive dynamics in the Angolan insurance industry.

  • Identify the growth opportunities and market dynamics in key segments.

  • Gain insights into key regulations governing the Angolan insurance industry and their impact on companies and the industry's future.

Table of Contents

1 Key Facts and Highlights2 Executive Summary3 Economy and Demographics
4 Industry Outlook
4.1 Industry Indicators
4.1.1 Direct written premium
4.1.2 Insurance density
4.1.3 Gross claims
5 Life Insurance Outlook
5.1 Segment Indicators
5.1.1 Direct written premium
5.1.2 Gross claims
5.1.3 Penetration
6 General Insurance Outlook
6.1 Segment Indicators
6.1.1 Direct written premium
6.1.2 Gross claims
6.1.3 Penetration
6.2 Property Insurance
6.2.1 Direct written premium
6.2.2 Penetration
6.2.3 Claims
6.3 Motor Insurance
6.3.1 Direct written premium
6.3.2 Penetration
6.3.3 Claims
6.4 Liability Insurance
6.4.1 Direct written premium
6.4.2 Penetration
6.4.3 Claims
6.5 Marine, Aviation and Transit Insurance
6.5.1 Direct written premium
6.5.2 Penetration
6.5.3 Claims
6.6 Personal Accident and Health Insurance
6.6.1 Direct written premium
6.6.2 Penetration
6.6.3 Claims
6.7 Miscellaneous
6.7.1 Direct written premium
6.7.2 Penetration
6.7.3 Claims
7 Reinsurance Outlook8 Distribution Channel Outlook
9 Natural and Man-Made Hazards
9.1 Flooding
9.2 Droughts
9.3 Epidemics
9.4 Exposure
10 Competitive Landscape
10.1 Company Profiles
10.1.1 Empresa Nacional de Seguros e Resseguros de Angola - company overview
10.1.2 AAA Seguros SA - company overview
10.1.3 Saham Angola Seguros - company overview
10.1.4 Global Seguros SA - company overview
10.1.5 Nova Sociedade de Seguros de Angola SA - company overview
11 Governance, Risk and Compliance
11.1 Legislation Overview and Historical Evolution
11.2 Latest Changes in Regulation
11.3 Legislation and Market Practice by Type of Insurance
11.3.1 Life insurance
11.3.2 Property insurance
11.3.3 Motor insurance
11.3.4 Liability insurance
11.3.5 Marine, aviation and transit insurance
11.3.6 Personal accident and health insurance
11.4 Compulsory Insurance
11.4.1 Workmen’s compensation
11.4.2 Aviation liability insurance
11.4.3 Motor third-party liability insurance
11.4.4 Compulsory Constitution of Work Insurance
11.4.5 Professional liability insurance of reinsurance brokers
11.4.6 Environmental liability insurance
11.4.7 Liability insurance for ships with respect to oil pollution
11.5 Supervision and Control
11.5.1 African Insurance Organization
11.5.2 Angolan Agency of Regulation and Supervision of Insurance
11.5.3 Angola Insurance Association
11.6 Non-Admitted Insurance Regulations
11.6.1 Overview
11.6.2 Intermediaries
11.6.3 Market practices
11.6.4 Fines and Penalties
11.7 Company Registration and Operations
11.7.1 Type of insurance organization
11.7.2 Establishing a local company
11.7.3 Foreign ownership
11.7.4 Types of license
11.7.5 Capital requirements
11.7.6 Solvency margin
11.7.7 Reserve requirements
11.7.8 Investment regulations
11.7.9 Statutory return requirements
11.7.10 Fee structure
11.8 Taxation
11.8.1 Insurance premium or policy taxation
11.8.2 Withholding taxes on premium paid overseas
11.8.3 Corporate tax
11.8.4 VAT
11.8.5 Captives
11.9 Legal System
11.9.1 Introduction
11.9.2 Access to court
11.9.3 Alternative dispute resolution
12 Databook
12.1 Life Insurance
12.1.1 Policies and premium
12.1.2 Claims and expenses
12.2 General Insurance
12.2.1 Policies and premium
12.2.2 Claims and expenses
12.2.3 Property insurance
12.2.4 Property insurance by category
12.2.5 Motor insurance
12.2.6 Liability insurance
12.2.7 Marine, aviation and transit insurance
12.2.8 Personal accident and health insurance
12.2.9 Miscellaneous
13 Definitions and Methodology
13.1 Definitions
13.2 Methodology
14 About
14.1 Contact
14.2 About
14.3 Services
14.4 Disclaimer
1 Key Facts and Highlights2 Executive Summary3 Economy and Demographics
4 Industry Outlook
4.1 Industry Indicators
4.1.1 Direct written premium
4.1.2 Insurance density
4.1.3 Gross claims
5 Life Insurance Outlook
5.1 Segment Indicators
5.1.1 Direct written premium
5.1.2 Gross claims
5.1.3 Penetration
6 General Insurance Outlook
6.1 Segment Indicators
6.1.1 Direct written premium
6.1.2 Gross claims
6.1.3 Penetration
6.2 Property Insurance
6.2.1 Direct written premium
6.2.2 Penetration
6.2.3 Claims
6.3 Motor Insurance
6.3.1 Direct written premium
6.3.2 Penetration
6.3.3 Claims
6.4 Liability Insurance
6.4.1 Direct written premium
6.4.2 Penetration
6.4.3 Claims
6.5 Marine, Aviation and Transit Insurance
6.5.1 Direct written premium
6.5.2 Penetration
6.5.3 Claims
6.6 Personal Accident and Health Insurance
6.6.1 Direct written premium
6.6.2 Penetration
6.6.3 Claims
6.7 Miscellaneous
6.7.1 Direct written premium
6.7.2 Penetration
6.7.3 Claims
7 Reinsurance Outlook8 Distribution Channel Outlook
9 Natural and Man-Made Hazards
9.1 Flooding
9.2 Droughts
9.3 Epidemics
9.4 Exposure
10 Competitive Landscape
10.1 Company Profiles
10.1.1 Empresa Nacional de Seguros e Resseguros de Angola - company overview
10.1.2 AAA Seguros SA - company overview
10.1.3 Saham Angola Seguros - company overview
10.1.4 Global Seguros SA - company overview
10.1.5 Nova Sociedade de Seguros de Angola SA - company overview
11 Governance, Risk and Compliance
11.1 Legislation Overview and Historical Evolution
11.2 Latest Changes in Regulation
11.3 Legislation and Market Practice by Type of Insurance
11.3.1 Life insurance
11.3.2 Property insurance
11.3.3 Motor insurance
11.3.4 Liability insurance
11.3.5 Marine, aviation and transit insurance
11.3.6 Personal accident and health insurance
11.4 Compulsory Insurance
11.4.1 Workmen’s compensation
11.4.2 Aviation liability insurance
11.4.3 Motor third-party liability insurance
11.4.4 Compulsory Constitution of Work Insurance
11.4.5 Professional liability insurance of reinsurance brokers
11.4.6 Environmental liability insurance
11.4.7 Liability insurance for ships with respect to oil pollution
11.5 Supervision and Control
11.5.1 African Insurance Organization
11.5.2 Angolan Agency of Regulation and Supervision of Insurance
11.5.3 Angola Insurance Association
11.6 Non-Admitted Insurance Regulations
11.6.1 Overview
11.6.2 Intermediaries
11.6.3 Market practices
11.6.4 Fines and Penalties
11.7 Company Registration and Operations
11.7.1 Type of insurance organization
11.7.2 Establishing a local company
11.7.3 Foreign ownership
11.7.4 Types of license
11.7.5 Capital requirements
11.7.6 Solvency margin
11.7.7 Reserve requirements
11.7.8 Investment regulations
11.7.9 Statutory return requirements
11.7.10 Fee structure
11.8 Taxation
11.8.1 Insurance premium or policy taxation
11.8.2 Withholding taxes on premium paid overseas
11.8.3 Corporate tax
11.8.4 VAT
11.8.5 Captives
11.9 Legal System
11.9.1 Introduction
11.9.2 Access to court
11.9.3 Alternative dispute resolution
12 Databook
12.1 Life Insurance
12.1.1 Policies and premium
12.1.2 Claims and expenses
12.2 General Insurance
12.2.1 Policies and premium
12.2.2 Claims and expenses
12.2.3 Property insurance
12.2.4 Property insurance by category
12.2.5 Motor insurance
12.2.6 Liability insurance
12.2.7 Marine, aviation and transit insurance
12.2.8 Personal accident and health insurance
12.2.9 Miscellaneous
13 Definitions and Methodology
13.1 Definitions
13.2 Methodology
14 About
14.1 Contact
14.2 About
14.3 Services
14.4 Disclaimer
List of Tables
Table 1: Angolan Insurance Industry - Key Facts, 2017
Table 2: Angolan Insurance Industry - Leading Insurers, 2017
Table 3: Angolan Government Credit Ratings
Table 4: Angolan Insurance Industry - Direct Written Premium (AOA Billion and US$ Million), 2013-2017
Table 5: Angolan Insurance Industry - Direct Written Premium (AOA Billion and US$ Million), 2017-2022
Table 6: Angolan Insurance Industry - Density (AOA), 2013-2017
Table 7: Angolan Insurance Industry - Density (AOA), 2017-2022
Table 8: Angolan Insurance Industry - Gross Claims (AOA Billion and US$ Million), 2013-2017
Table 9: Angolan Insurance Industry - Gross Claims (AOA Billion and US$ Million), 2017-2022
Table 10: Angolan Life Insurance - Direct Written Premium (AOA Billion and US$ Million), 2013-2017
Table 11: Angolan Life Insurance - Direct Written Premium (AOA Billion and US$ Million), 2017-2022
Table 12: Angolan Life Insurance - Gross Claims (AOA Billion and US$ Million), 2013-2017
Table 13: Angolan Life Insurance - Gross Claims (AOA Billion and US$ Million), 2017-2022
Table 14: Angolan General Insurance - Direct Written Premium (AOA Billion and US$ Million), 2013-2017
Table 15: Angolan General Insurance - Direct Written Premium (AOA Billion and US$ Million), 2017-2022
Table 16: Angolan General Insurance - Gross Claims (AOA Billion and US$ Million), 2013-2017
Table 17: Angolan General Insurance - Gross Claims (AOA Billion and US$ Million), 2017-2022
Table 18: Angolan Property Insurance - Direct Written Premium (AOA Billion and US$ Million), 2013-2017
Table 19: Angolan Property Insurance - Direct Written Premium (AOA Billion and US$ Million), 2017-2022
Table 20: Angolan Property Insurance - Gross Claims (AOA Billion and US$ Million),2013-2017
Table 21: Angolan Property Insurance - Gross Claims (AOA Million and US$ Thousands), 2017-2022
Table 22: Angolan Motor Insurance - Direct Written Premium (AOA Billion and US$ Million), 2013-2017
Table 23: Angolan Motor Insurance - Direct Written Premium (AOA Billion and US$ Million), 2017-2022
Table 24: Angolan Motor Insurance - Gross Claims (AOA Billion and US$ Million),2013-2017
Table 25: Angolan Motor Insurance - Gross Claims (AOA Billion and US$ Million), 2017-2022
Table 26: Angolan Liability Insurance - Direct Written Premium (AOA Billion and US$ Million), 2013-2017
Table 27: Angolan Liability Insurance - Direct Written Premium (AOA Billion and US$ Million), 2017-2022
Table 28: Angolan Liability Insurance - Gross Claims (AOA Million and US$ Thousands),2013-2017
Table 29: Angolan Liability Insurance - Gross Claims (AOA Million and US$ Thousands), 2017-2022
Table 30: Angolan Marine, Aviation and Transit Insurance - Direct Written Premium (AOA Billion and US$ Million), 2013-2017
Table 31: Angolan Marine, Aviation and Transit Insurance - Direct Written Premium (AOA Billion and US$ Million), 2017-2022
Table 32: Angolan Marine, Aviation and Transit Insurance - Gross Claims (AOA Million and US$ Thousands),2013-2017
Table 33: Angolan Marine, Aviation and Transit Insurance - Gross Claims (AOA Million and US$ Thousands), 2017-2022
Table 34: Angolan Personal Accident and Health Insurance - Direct Written Premium (AOA Billion and US$ Million), 2013-2017
Table 35: Angolan Personal Accident and Health Insurance - Direct Written Premium (AOA Billion and US$ Million), 2017-2022
Table 36: Angolan Personal Accident and Health Insurance - Gross Claims (AOA Billion and US$ Million),2013-2017
Table 37: Angolan Personal Accident and Health Insurance - Gross Claims (AOA Billion and US$ Million), 2017-2022
Table 38: Angolan Miscellaneous - Direct Written Premium (AOA Billion and US$ Million), 2013-2017
Table 39: Angolan Miscellaneous - Direct Written Premium (AOA Billion and US$ Million), 2017-2022
Table 40: Angolan Miscellaneous - Gross Claims (AOA Million and US$ Thousands),2013-2017
Table 41: Angolan Miscellaneous - Gross Claims (AOA Million and US$ Thousands), 2017-2022
Table 42: Angolan Insurance Industry - Leading Insurers, 2017
Table 43: Empresa Nacional de Seguros e Resseguros de Angola - Key Facts
Table 44: AAA Seguros SA - Key Facts
Table 45: Saham Angola Seguros - Key Facts
Table 46: Global Seguros SA - Key Facts
Table 47: Nova Sociedade de Seguros de Angola SA - Key Facts
Table 48: Angola - Insurance Regulatory Framework Key Features
Table 49: Angola - Life Insurance Regulatory Framework
Table 50: Angola - Property Insurance Regulatory Framework
Table 51: Angola - Motor Insurance Regulatory Framework
Table 52: Angola - Liability Insurance Regulatory Framework
Table 53: Angola - Minimum Amount to be Insured by Aircraft Owners Against Third-Party Liability
Table 54: Angola - Minimum Amount to be Insured by Automobile Owners Against Third-Party Liability
Table 55: Angola - Corporate Tax Rates for the Financial Year 2017
Table 56: Angolan Life Insurance - Policies and Premium, 2013-2017
Table 57: Angolan Life Insurance - Policies and Premium, 2017-2022
Table 58: Angolan Life Insurance - Claims and Expenses, 2013-2017
Table 59: Angolan Life Insurance - Claims and Expenses, 2017-2022
Table 60: Angolan General Insurance - Policies and Premium, 2013-2017
Table 61: Angolan General Insurance - Policies and Premium, 2017-2022
Table 62: Angolan General Insurance - Claims and Expenses, 2013-2017
Table 63: Angolan General Insurance - Claims and Expenses, 2017-2022
Table 64: Angolan General Insurance - Property Insurance, 2013-2017
Table 65: Angolan General Insurance - Property Insurance, 2017-2022
Table 66: Angolan General Insurance - Property Insurance by Category, 2013-2017
Table 67: Angolan General Insurance - Property Insurance by Category, 2017-2022
Table 68: Angolan General Insurance - Motor Insurance, 2013-2017
Table 69: Angolan General Insurance - Motor Insurance, 2017-2022
Table 70: Angolan General Insurance - Liability Insurance, 2013-2017
Table 71: Angolan General Insurance - Liability Insurance, 2017-2022
Table 72: Angolan General Insurance - Marine, Aviation and Transit Insurance, 2013-2017
Table 73: Angolan General Insurance - Marine, Aviation and Transit Insurance, 2017-2022
Table 74: Angolan General Insurance - Personal Accident and Health Insurance, 2013-2017
Table 75: Angolan General Insurance - Personal Accident and Health Insurance, 2017-2022
Table 76: Angolan General Insurance - Miscellaneous, 2013-2017
Table 77: Angolan General Insurance - Miscellaneous, 2017-2022
Table 78: Insurance Industry Definitions
List of Figures
Figure 1: Angolan Real GDP (AOA Trillion), 2013-2022
Figure 2: Angolan Exchange Rate (AOA per US$), 2013-2022
Figure 3: Angolan Consumer Price Inflation (%), 2013-2022
Figure 4: Angolan Current Account Balance as Percentage of GDP (%), 2013-2022
Figure 5: Angolan Unemployment Rate, 2013-2022
Figure 6: Angolan Population by Age Group, 2013-2022
Figure 7: Angolan Insurance Industry - Direct Written Premium (AOA Billion), 2013-2022
Figure 8: Angolan Insurance Industry - Density (AOA), 2013-2022
Figure 9: Angolan Insurance Industry - Gross Claims (AOA Billion), 2013-2022
Figure 10: Angolan Life Insurance - Direct Written Premium (AOA Billion), 2013-2022
Figure 11: Angolan Life Insurance - Gross Claims (AOA Billion), 2013-2022
Figure 12: Angolan Life Insurance - Penetration (%), 2013-2017
Figure 13: Angolan Life Insurance - Penetration (%), 2017-2022
Figure 14: Angolan General Insurance - Direct Written Premium (AOA Billion), 2013-2022
Figure 15: Angolan General Insurance - Gross Claims (AOA Billion), 2013-2022
Figure 16: Angolan General Insurance - Penetration (%), 2013-2017
Figure 17: Angolan General Insurance - Penetration (%), 2017-2022
Figure 18: Angolan Property Insurance - Direct Written Premium (AOA Billion), 2013-2022
Figure 19: Angolan Property Insurance - Penetration (%), 2013-2017
Figure 20: Angolan Property Insurance - Penetration (%), 2017-2022
Figure 21: Angolan Property Insurance - Gross Claims (AOA Billion), 2013-2022
Figure 22: Angolan Motor Insurance - Direct Written Premium (AOA Billion), 2013-2022
Figure 23: Angolan Motor Insurance - Penetration (%), 2013-2017
Figure 24: Angolan Motor Insurance - Penetration (%), 2017-2022
Figure 25: Angolan Motor Insurance - Gross Claims (AOA Billion), 2013-2022
Figure 26: Angolan Liability Insurance - Direct Written Premium (AOA Billion), 2013-2022
Figure 27: Angolan Liability Insurance - Penetration (%), 2013-2017
Figure 28: Angolan Liability Insurance - Penetration (%), 2017-2022
Figure 29: Angolan Liability Insurance - Gross Claims (AOA Million), 2013-2022
Figure 30: Angolan Marine, Aviation and Transit Insurance - Direct Written Premium (AOA Billion), 2013-2022
Figure 31: Angolan Marine, Aviation and Transit Insurance - Penetration (%), 2013-2017
Figure 32: Angolan Marine, Aviation and Transit Insurance - Penetration (%), 2017-2022
Figure 33: Angolan Marine, Aviation and Transit Insurance - Gross Claims (AOA Million), 2013-2022
Figure 34: Angolan Personal Accident and Health Insurance - Direct Written Premium (AOA Billion), 2013-2022
Figure 35: Angolan Personal Accident and Health Insurance - Penetration (%), 2013-2017
Figure 36: Angolan Personal Accident and Health Insurance - Penetration (%), 2017-2022
Figure 37: Angolan Personal Accident and Health Insurance - Gross Claims (AOA Billion), 2013-2022
Figure 38: Angolan Miscellaneous - Direct Written Premium (AOA Billion), 2013-2022
Figure 39: Angolan Miscellaneous - Penetration (%), 2013-2017
Figure 40: Angolan Miscellaneous - Penetration (%), 2017-2022
Figure 41: Angolan Miscellaneous - Gross Claims (AOA Million), 2013-2022
Figure 42: Angola - Insurance Supervision and Control at Various Levels
Figure 43: Angola - Insurance Regulatory Frameworks for Company Registration and Operation

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • ENSA Seguros de Angola

  • AAA Seguros SA

  • Saham Angola Seguros

  • Global Seguros SA

  • Nova Sociedade de Seguros de Angola SA

  • Mundial Seguros SA

  • Garantia Seguros SA

  • Tranquilidade - Corporação Angolana de Seguros

  • Triunfal Seguros SA

  • Conf

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