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The Insurance Industry in Angola, Key Trends and Opportunities to 2018 Product Image

The Insurance Industry in Angola, Key Trends and Opportunities to 2018

  • ID: 2906106
  • August 2014
  • Region: Angola
  • 134 Pages
  • Timetric

FEATURED COMPANIES

  • AAA Insurance SA
  • GA Angola Seguros SA
  • MORE

The report provides in-depth industry analysis, information and insights of the insurance industry in Angola, including:
- The Angolan insurance industry’s growth prospects by insurance segments and categories
- The competitive landscape in the Angolan insurance industry
- The current trends and drivers of the Angolan insurance industry
- Challenges facing the Angolan insurance industry
- Detailed regulatory framework of the Angolan insurance industry

Summary

Angola is the fifth-largest economy in Africa and is one of the fastest-growing economies globally, with an annual GDP growth averaging 11.6% during 2002–2011. according to IMF. The Angolan economy is highly dependent on the oil sector, which in 2012 accounted for 46.0% of GDP and 96.0% of exports. The country is the second largest oil producer in Africa after Nigeria. Led by stable economic growth and a progressive regulatory environment, the Angolan insurance industry (which is the sixth-largest in Africa, in terms of gross written premium) witnessed a strong growth during the review period (2009–2013). This was primarily driven by the non-life segment, which accounted for 63.6% READ MORE >

FEATURED COMPANIES

  • AAA Insurance SA
  • GA Angola Seguros SA
  • MORE

1 Executive Summary

2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology

3 Angolan Insurance Industry Overview
3.1 Angolan Insurance Industry
3.2 Key Industry Trends and Drivers
3.3 Challenges

4 Market Segmentation
4.1 Life Insurance
4.2 Non-Life Insurance
4.2.1 Property insurance
4.2.2 Motor insurance
4.2.3 Liability insurance
4.2.4 Marine, aviation and transit insurance
4.3 Personal Accident and Health Insurance
4.4 Reinsurance

5 Governance, Risk and Compliance
5.1 Legislation Overview and Historical Evolution
5.2 Legislation and Market Practice by Type of Insurance
5.2.1 Life insurance
5.2.2 Property insurance
5.2.3 Motor insurance
5.2.4 Marine, aviation and transit insurance
5.2.5 Personal accident and health insurance
5.3 Compulsory Insurance
5.3.1 Workmen’s compensation
5.3.2 Aviation liability insurance
5.3.3 Motor third-party liability insurance
5.4 Supervision and Control
5.4.1 African Insurance Organization
5.4.2 Angolan Agency of Regulation and Supervision of Insurance (ARSEG)
5.5 Non-Admitted Insurance Regulations
5.5.1 Overview
5.5.2 Intermediaries
5.5.3 Market Practices
5.5.4 Fines and Penalties
5.6 Company Registration and Operations
5.6.1 Types of insurance organization
5.6.2 Establishing a local company
5.6.3 Foreign ownership
5.6.4 Types of license
5.6.5 Capital requirements
5.6.6 Solvency margins
5.6.7 Reserve requirements
5.6.8 Investment regulations
5.6.9 Statutory return requirements
5.6.10 Fee structure
5.7 Taxation
5.7.1 Insurance premium or policy taxation
5.7.2 Withholding taxes on premium paid overseas
5.7.3 Corporate tax
5.7.4 VAT
5.7.5 Captives
5.8 Legal System
5.8.1 Introduction
5.8.2 Access to court
5.8.3 Alternative dispute resolution (ADR)

6 Competitive Landscape
6.1 Overview
6.2 Leading Companies
6.2.1 AAA Insurance SA - company overview
6.2.2 National Insurance Company of Angola (ENSA) - company overview
6.2.3 GA Angola Seguros SA - company overview

7 Macroeconomic Indicators
7.1 GDP at Constant Prices (US dollars)
7.2 GDP per Capita at Constant Prices (US dollars)
7.3 GDP at Current Prices (US dollars)
7.4 GDP per Capita at Current Prices (US dollars)
7.5 Inflation Rate
7.6 Exports as a Percentage of GDP
7.7 Construction Output (US$ Billions)
7.8 Labor Force
7.9 Total Internet Subscribers
7.1 Total Population
7.11 Urban and Rural Population
7.12 Age Distribution of the Total Population

8 Appendix
8.1 Methodology
8.2 Contact Timetric
8.3 About Timetric
8.4 Timetric’s Services
8.5 Disclaimer

List of Tables

Table 1: Insurance Industry Definitions
Table 2: Angolan Insurance Gross Premium by Segment (AOA Billion), 2009-2013
Table 3: Angolan Insurance Gross Written Premium by Segment (US$ Million), 2009-2013
Table 4: Angolan Insurance Gross Written Premium by Segment (AOA Billion), 2013-2018
Table 5: Angolan Insurance Gross Written Premium by Segment (US$ Million), 2013-2018
Table 6: Angolan Insurance Segmentation (% Share), 2009-2018
Table 7: Angolan Life Insurance - Paid Claims (AOA Billion), 2009-2013
Table 8: Angolan Life Insurance - Paid Claims (AOA Billion), 2013-2018
Table 9: Angolan Life Insurance - Incurred Loss (AOA Billion), 2009-2013
Table 10: Angolan Life Insurance - Incurred Loss (AOA Billion), 2013-2018
Table 11: Angolan Life Insurance - Loss Ratio (%), 2009-2013
Table 12: Angolan Life Insurance - Loss Ratio (%), 2013-2018
Table 13: Angolan Life Insurance - Combined Ratio (%), 2009-2013
Table 14: Angolan Life Insurance - Combined Ratio (%), 2013-2018
Table 15: Angolan Life Insurance - Total Assets (AOA Billion), 2009-2013
Table 16: Angolan Life Insurance - Total Assets (AOA Billion), 2013-2018
Table 17: Angolan Life Insurance - Total Investment Income (AOA Billion), 2009-2013
Table 18: Angolan Life Insurance - Total Investment Income (AOA Billion), 2013-2018
Table 19: Angolan Life Insurance - Retentions (AOA Billion), 2009-2013
Table 20: Angolan Life Insurance - Retentions (AOA Billion), 2013-2018
Table 21: Angolan Non-Life Insurance - Gross Written Premium by Category (AOA Billion), 2009-2013
Table 22: Angolan Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2009-2013
Table 23: Angolan Non-Life Insurance - Gross Written Premium by Category (AOA Billion), 2013-2018
Table 24: Angolan Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2013-2018
Table 25: Angolan Non-Life Insurance - Paid Claims (AOA Billion), 2009-2013
Table 26: Angolan Non-Life Insurance - Paid Claims (AOA Billion), 2013-2018
Table 27: Angolan Non-Life Insurance - Incurred Loss (AOA Billion), 2009-2013
Table 28: Angolan Non-Life Insurance - Incurred Loss (AOA Billion), 2013-2018
Table 29: Angolan Non-Life Insurance - Loss Ratio (%), 2009-2013
Table 30: Angolan Non-Life Insurance - Loss Ratio (%), 2013-2018
Table 31: Angolan Non-Life Insurance - Combined Ratio (%), 2009-2013
Table 32: Angolan Non-Life Insurance - Combined Ratio (%), 2013-2018
Table 33: Angolan Non-Life Insurance - Total Assets (AOA Billion), 2009-2013
Table 34: Angolan Non-Life Insurance - Total Assets (AOA Billion), 2013-2018
Table 35: Angolan Non-Life Insurance - Total Investment Income (AOA Billion), 2009-2013
Table 36: Angolan Non-Life Insurance - Total Investment Income (AOA Billion), 2013-2018
Table 37: Angolan Non-Life Insurance - Retentions (AOA Billion), 2009-2013
Table 38: Angolan Non-Life Insurance - Retentions (AOA Billion), 2013-2018
Table 39: Angolan Property Insurance - Gross Written Premium (AOA Billion), 2009-2013
Table 40: Angolan Property Insurance - Gross Written Premium (AOA Billion), 2013-2018
Table 41: Angolan Motor Insurance - Gross Written Premium (AOA Billion), 2009-2013
Table 42: Angolan Motor Insurance - Gross Written Premium (AOA Billion), 2013-2018
Table 43: Angolan Liability Insurance - Gross Written Premium (AOA Billion), 2009-2013
Table 44: Angolan Liability Insurance - Gross Written Premium (AOA Billion), 2013-2018
Table 45: Angolan Marine, Aviation and Transit Insurance - Gross Written Premium (AOA Billion), 2009-2013
Table 46: Angolan Marine, Aviation and Transit Insurance - Gross Written Premium (AOA Billion), 2013-2018
Table 47: Angolan Personal Accident and Health Insurance - Paid Claims (AOA Billion), 2009-2013
Table 48: Angolan Personal Accident and Health Insurance - Paid Claims (AOA Billion), 2013-2018
Table 49: Angolan Personal Accident and Health Insurance - Incurred Loss (AOA Billion), 2009-2013
Table 50: Angolan Personal Accident and Health Insurance - Incurred Loss (AOA Billion), 2013-2018
Table 51: Angolan Personal Accident and Health Insurance - Loss Ratio (%), 2009-2013
Table 52: Angolan Personal Accident and Health Insurance - Loss Ratio (%), 2013-2018
Table 53: Angolan Personal Accident and Health Insurance - Combined Ratio (%), 2009-2013
Table 54: Angolan Personal Accident and Health Insurance - Combined Ratio (%), 2013-2018
Table 55: Angolan Personal Accident and Health Insurance - Total Assets (AOA Billion), 2009-2013
Table 56: Angolan Personal Accident and Health Insurance - Total Assets (AOA Billion), 2013-2018
Table 57: Angolan Personal Accident and Health Insurance - Total Investment Income (AOA Billion), 2009-2013
Table 58: Angolan Personal Accident and Health Insurance - Total Investment Income (AOA Billion), 2013-2018
Table 59: Angolan Personal Accident and Health Insurance - Retentions (AOA Billion), 2009-2013
Table 60: Angolan Personal Accident and Health Insurance - Retentions (AOA Billion), 2013-2018
Table 61: Angolan Reinsurance Ceded by Insurance Industry (AOA Billion), 2009-2013
Table 62: Angolan Reinsurance Ceded by Insurance Industry (US$ Million), 2009-2013
Table 63: Angolan Reinsurance Ceded by Insurance Industry (AOA Billion), 2013-2018
Table 64: Angolan Reinsurance Ceded by Insurance Industry (US$ Million), 2013-2018
Table 65: Angolan Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 66: Angolan Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 67: Angolan Non-life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 68: Angolan Non-life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 69: Angolan Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 70: Angolan Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 71: Angola - Life Insurance Regulatory Framework
Table 72: Angola - Property Insurance Regulatory Framework
Table 73: Angola - Motor Insurance Regulatory Framework
Table 74: Angola - Minimum Amount to be Insured by Aircraft Owners Against Third-Party Liability
Table 75: Angola - Minimum Amount to be Insured by Automobile Owners Against Third-Party Liability
Table 76: Angola - Corporate Tax Rates for the Financial Year 2013
Table 77: Angolan Insurance Industry, Market Shares by Company, 2011 and 2012
Table 78: AAA Insurance SA, Main Products
Table 79: AAA Insurance SA, Key Employees
Table 80: National Insurance Company of Angola (ENSA), Main Products
Table 81: National Insurance Company of Angola (ENSA), Key Employees
Table 82: GA Angola Seguros SA, Main Products
Table 83: GA Angola Seguros SA, Key Employees

List of Figures

Figure 1: Angolan Insurance Gross Written Premium by Segment (AOA Billion), 2009-2018
Figure 2: Angolan Insurance Market Dynamics by Segment, 2009-2018
Figure 3: Angolan Life Insurance - Paid Claims (AOA Billion), 2009-2013
Figure 4: Angolan Life Insurance - Paid Claims (AOA Billion), 2013-2018
Figure 5: Angolan Life Insurance - Incurred Loss (AOA Billion), 2009-2013
Figure 6: Angolan Life Insurance - Incurred Loss (AOA Billion), 2013-2018
Figure 7: Angolan Life Insurance - Loss Ratio (%), 2009-2013
Figure 8: Angolan Life Insurance - Loss Ratio (%), 2013-2018
Figure 9: Angolan Life Insurance - Combined Ratio (%), 2009-2013
Figure 10: Angolan Life Insurance - Combined Ratio (%), 2013-2018
Figure 11: Angolan Life Insurance - Total Assets (AOA Billion), 2009-2013
Figure 12: Angolan Life Insurance - Total Assets (AOA Billion), 2013-2018
Figure 13: Angolan Life Insurance - Total Investment Income (AOA Billion), 2009-2013
Figure 14: Angolan Life Insurance - Total Investment Income (AOA Billion), 2013-2018
Figure 15: Angolan Life Insurance - Retentions (AOA Billion), 2009-2013
Figure 16: Angolan Life Insurance - Retentions (AOA Billion), 2013-2018
Figure 17: Angolan Life Insurance - Investment (AOA Billion), 2009-2013
Figure 18: Angolan Life Insurance - Penetration (%), 2009-2013
Figure 19: Angolan Life Insurance - Premium Per-Capita (AOA), 2009-2013
Figure 20: Angolan Non-Life Insurance - Gross Written Premium by Category (AOA Billion), 2009-2018
Figure 21: Angolan Non-Life Insurance - Gross Written Premium by Category (%), 2013 and 2018
Figure 22: Angolan Non-Life Insurance - Dynamics by Category, 2009-2018
Figure 23: Angolan Non-Life Insurance - Paid Claims (AOA Billion), 2009-2013
Figure 24: Angolan Non-Life Insurance - Paid Claims (AOA Billion), 2013-2018
Figure 25: Angolan Non-Life Insurance - Incurred Loss (AOA Billion), 2009-2013
Figure 26: Angolan Non-Life Insurance - Incurred Loss (AOA Billion), 2013-2018
Figure 27: Angolan Non-Life Insurance - Loss Ratio (%), 2009-2013
Figure 28: Angolan Non-Life Insurance - Loss Ratio (%), 2013-2018
Figure 29: Angolan Non-Life Insurance - Combined Ratio (%), 2009-2013
Figure 30: Angolan Non-Life Insurance - Combined Ratio (%), 2013-2018
Figure 31: Angolan Non-Life Insurance - Total Assets (AOA Billion), 2009-2013
Figure 32: Angolan Non-Life Insurance - Total Assets (AOA Billion), 2013-2018
Figure 33: Angolan Non-Life Insurance - Total Investment Income (AOA Billion), 2009-2013
Figure 34: Angolan Non-Life Insurance - Total Investment Income (AOA Billion), 2013-2018
Figure 35: Angolan Non-Life Insurance - Retentions (AOA Billion), 2009-2013
Figure 36: Angolan Non-Life Insurance - Retentions (US$ Million), 2013-2018
Figure 37: Angolan Non-Life Insurance - Investment (AOA Billion), 2009-2013
Figure 38: Angolan Non-Life Insurance - Penetration (%), 2009-2013
Figure 39: Angolan Non-Life Insurance - Premium Per Capita (AOA), 2009-2013
Figure 40: Angolan Property Insurance - Gross Written Premium (AOA Billion), 2009-2013
Figure 41: Angolan Property Insurance - Gross Written Premium (AOA Billion), 2013-2018
Figure 42: Angolan Motor Insurance - Gross Written Premium (AOA Billion), 2009-2013
Figure 43: Angolan Motor Insurance - Gross Written Premium (AOA Billion), 2013-2018
Figure 44: Angolan Liability Insurance - Gross Written Premium (AOA Billion), 2009-2013
Figure 45: Angolan Liability Insurance - Gross Written Premium (AOA Billion), 2013-2018
Figure 46: Angolan Marine, Aviation and Transit Insurance - Gross Written Premium (AOA Billion), 2009-2013
Figure 47: Angolan Marine, Aviation and Transit Insurance - Gross Written Premium (AOA Billion), 2013-2018
Figure 48: Angolan Personal Accident and Health Insurance - Paid Claims by Category (AOA Billion), 2009-2013
Figure 49: Angolan Personal Accident and Health Insurance - Paid Claims (AOA Billion), 2013-2018
Figure 50: Angolan Personal Accident and Health Insurance - Incurred Loss (AOA Billion), 2009-2013
Figure 51: Angolan Personal Accident and Health Insurance - Incurred Loss (AOA Billion), 2013-2018
Figure 52: Angolan Personal Accident and Health Insurance - Loss Ratio (%), 2009-2013
Figure 53: Angolan Personal Accident and Health Insurance - Loss Ratio (%), 2013-2018
Figure 54: Angolan Personal Accident and Health Insurance - Combined Ratio (%), 2009-2013
Figure 55: Angolan Personal Accident and Health Insurance - Combined Ratio (%), 2013-2018
Figure 56: Angolan Personal Accident and Health Insurance - Total Assets (AOA Billion), 2009-2013
Figure 57: Angolan Personal Accident and Health Insurance - Total Assets (AOA Billion), 2013-2018
Figure 58: Angolan Personal Accident and Health Insurance - Total Investment Income (AOA Billion), 2009-2013
Figure 59: Angolan Personal Accident and Health Insurance - Total Investment Income (AOA Billion), 2013-2018
Figure 60: Angolan Personal Accident and Health Insurance - Retentions (AOA Billion), 2009-2013
Figure 61: Angolan Personal Accident and Health Insurance - Retentions (AOA Billion), 2013-2018
Figure 62: Angolan Personal Accident and Health Insurance - Investment (AOA Billion), 2009-2013
Figure 63: Angolan Personal Accident and Health Insurance - Penetration (%), 2009-2013
Figure 64: Angolan Personal Accident and Health Insurance - Premium Per Capita (AOA), 2009-2013
Figure 65: Angolan Reinsurance Ceded by Insurance Segment (AOA Billion), 2009-2018
Figure 66: Angolan Reinsurance - Dynamics by Insurance Segment, 2009-2018
Figure 67: Angolan Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Figure 68: Angolan Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Figure 69: Angolan Non-life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Figure 70: Angolan Non-life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Figure 71: Angolan Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Figure 72: Angolan Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Figure 73: Angola - Insurance Regulatory Framework
Figure 74: Angola - Insurance Supervision and Control at Various Levels
Figure 75: Angola - Insurance Regulatory Frameworks for Company Registration and Operation
Figure 76:Angolan Insurance Industry, Market Share by Company, 2011 and 2012
Figure 77: Angolan GDP at Constant Prices (US$ Billion), 2008-2012
Figure 78: Angolan GDP Per Capita at Constant Prices (US$), 2008-2012
Figure 79: Angolan GDP at Current Prices (US$ Billion), 2008-2012
Figure 80: Angolan GDP Per Capita at Current Prices (US$), 2008-2012
Figure 81: Angolan Inflation Rate (Percentage), 2008-2012
Figure 82: Angolan Exports as a Percentage of GDP, 2007-2011
Figure 83: Angolan Construction Output (US$ Billion), 2008-2012
Figure 84: Angolan Size of Labor Force (Million), 2008-2012
Figure 85: Angolan Internet Subscriptions (Millions), 2008-2012
Figure 86: Angolan Total Population (Million), 2008-2012
Figure 87: Angolan Urban and Rural Population (%), 2008-2012
Figure 88: Angolan Population Distribution by Age (%), 2008-2012

AAA Insurance SA
National Insurance Company of Angola (ENSA)
GA Angola Seguros SA

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