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

Region:Africa

Author(s):

Product Code:GDIS1758MR

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Published on

September 2018

Total pages

107

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About the Report

About the Report

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

Summary

GlobalData'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 GlobalData'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.

Products

Products

Angolan insurance industry, Life insurance, General insurance, Property insurance, Motor insurance, Liability insurance, Marine insurance, Personal accident and health insurance, Travel insurance, Health insurance, Reinsurance


Companies

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 - Corporacao Angolana de Seguros

Triunfal Seguros SA

Confiance Seguros SA

Table of Contents

Table of Contents

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 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 Outlook

8 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 GlobalData

14.1 Contact GlobalData

14.2 About GlobalData

14.3 GlobalData's Services

14.4 Disclaimer

1 Key Facts and Highlights

2 Executive Summary

3 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 Outlook

8 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 GlobalData

14.1 Contact GlobalData

14.2 About GlobalData

14.3 GlobalData's Services

14.4 Disclaimer


List of Figure

List of Figures

Figure 1: Angolan Real GDP (AOA Trillion), 2013-2022

Figure 2: Angolan Exchange Rate (AOA per USD ), 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


List of Table

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 USD Million), 2013-2017

Table 5: Angolan Insurance Industry-Direct Written Premium (AOA Billion and USD 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 USD Million), 2013-2017

Table 9: Angolan Insurance Industry-Gross Claims (AOA Billion and USD Million), 2017-2022

Table 10: Angolan Life Insurance-Direct Written Premium (AOA Billion and USD Million), 2013-2017

Table 11: Angolan Life Insurance-Direct Written Premium (AOA Billion and USD Million), 2017-2022

Table 12: Angolan Life Insurance-Gross Claims (AOA Billion and USD Million), 2013-2017

Table 13: Angolan Life Insurance-Gross Claims (AOA Billion and USD Million), 2017-2022

Table 14: Angolan General Insurance-Direct Written Premium (AOA Billion and USD Million), 2013-2017

Table 15: Angolan General Insurance-Direct Written Premium (AOA Billion and USD Million), 2017-2022

Table 16: Angolan General Insurance-Gross Claims (AOA Billion and USD Million), 2013-2017

Table 17: Angolan General Insurance-Gross Claims (AOA Billion and USD Million), 2017-2022

Table 18: Angolan Property Insurance-Direct Written Premium (AOA Billion and USD Million), 2013-2017

Table 19: Angolan Property Insurance-Direct Written Premium (AOA Billion and USD Million), 2017-2022

Table 20: Angolan Property Insurance-Gross Claims (AOA Billion and USD Million),2013-2017

Table 21: Angolan Property Insurance-Gross Claims (AOA Million and USD Thousands), 2017-2022

Table 22: Angolan Motor Insurance-Direct Written Premium (AOA Billion and USD Million), 2013-2017

Table 23: Angolan Motor Insurance-Direct Written Premium (AOA Billion and USD Million), 2017-2022

Table 24: Angolan Motor Insurance-Gross Claims (AOA Billion and USD Million),2013-2017

Table 25: Angolan Motor Insurance-Gross Claims (AOA Billion and USD Million), 2017-2022

Table 26: Angolan Liability Insurance-Direct Written Premium (AOA Billion and USD Million), 2013-2017

Table 27: Angolan Liability Insurance-Direct Written Premium (AOA Billion and USD Million), 2017-2022

Table 28: Angolan Liability Insurance-Gross Claims (AOA Million and USD Thousands),2013-2017

Table 29: Angolan Liability Insurance-Gross Claims (AOA Million and USD Thousands), 2017-2022

Table 30: Angolan Marine, Aviation and Transit Insurance-Direct Written Premium (AOA Billion and USD Million), 2013-2017

Table 31: Angolan Marine, Aviation and Transit Insurance-Direct Written Premium (AOA Billion and USD Million), 2017-2022

Table 32: Angolan Marine, Aviation and Transit Insurance-Gross Claims (AOA Million and USD Thousands),2013-2017

Table 33: Angolan Marine, Aviation and Transit Insurance-Gross Claims (AOA Million and USD Thousands), 2017-2022

Table 34: Angolan Personal Accident and Health Insurance-Direct Written Premium (AOA Billion and USD Million), 2013-2017

Table 35: Angolan Personal Accident and Health Insurance-Direct Written Premium (AOA Billion and USD Million), 2017-2022

Table 36: Angolan Personal Accident and Health Insurance-Gross Claims (AOA Billion and USD Million),2013-2017

Table 37: Angolan Personal Accident and Health Insurance-Gross Claims (AOA Billion and USD Million), 2017-2022

Table 38: Angolan Miscellaneous-Direct Written Premium (AOA Billion and USD Million), 2013-2017

Table 39: Angolan Miscellaneous-Direct Written Premium (AOA Billion and USD Million), 2017-2022

Table 40: Angolan Miscellaneous-Gross Claims (AOA Million and USD Thousands),2013-2017

Table 41: Angolan Miscellaneous-Gross Claims (AOA Million and USD 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

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