Angola's insurance market (2015-2019)
Angola's insurance market features
- Regulatory authority: Angolan Insurance Regulatory and Supervisory Agency (ARSEG)
- Life and non-life premiums: 374.123 million USD
- Insurance density (2019): 11.7 USD
- Penetration rate (2019): 0.4%
Structure of the Kenyan insurance market in 2020
Market stakeholders | Total |
---|---|
Insurance companies | 28 |
Insurance agents | 22 |
Insurance and reinsurance brokers | 64 |
Profile
- Area (1): 1 281 432 Km2
- Population (1) (2019) :31 825 299 inhabitants
- GDP (1) (2019) : 89.417 billion USD
- GDP per capita (2019) : 2 809 USD
- GDP growth rate (2019) (1):-0.6%
- Inflation rate (2019) :17%
- Main economic sectors : Petroleum and gas industry and services (banking, communications, tourism)
Major cities (2)
(per number of inhabitants in 2017)
- Luanda (capital): 9 165 776
- Lobito - Benguela: 1 172 741
- Huambo: 1 105 819
(1) Source : population.data
(2)Source Banque Mondiale
Angola's insurance market: premiums per life and non-life class of business (2015-2019)
Figures in thousands USD
Class of business | 2015 | 2016 | 2017 | 2018 | 2019 |
---|---|---|---|---|---|
Non life | 815 757 | 602 505 | 731 538 | 439 873 | 364 885 |
life | 15 266 | 12 135 | 11 387 | 10 047 | 9 238 |
Total | 831 023 | 614 640 | 742 926 | 449 920 | 374 123 |
Exchange rate as at 31/12/2019 : 1 AOA = 0.00205 USD ; at 31/12/2018 : 1 AOA = 0.00322 USD ; at 31/12/2017 : 1 AOA = 0.0060 USD ; at 31/12/2016 : 1 AOA = 0.0060 USD ; at 31/12/2015 : 1 AOA = 0.00735 USD
Angola's insurance market: turnover per class of business (2018-2019)
Figures in thousands2019 turnover | 2018 turnover | 2018-2019 (1) evolution | 2019 shares | |||
---|---|---|---|---|---|---|
In AOA | In USD | In AOA | In USD | |||
ENSA Seguros de Angola | 63 796 284 | 130 782 | 47 696 763 | 153 584 | 33.75% | 34.96% |
Saham Angola Seguros | 24 893 074 | 51 031 | 21 588 088 | 69 514 | 15.31% | 13.64% |
Fidelidade Seguros Angola | 22 338 090 | 45 793 | 14 308 322 | 46 073 | 56.12% | 12.24% |
Nossa Seguros | 19 107 861 | 39 171 | 11 863 103 | 38 199 | 61.07% | 10.47% |
Global Seguros | 9 216 423 | 18 894 | 9 389 939 | 30 236 | -1.85% | 5.05% |
BIC Seguros | 7 336 685 | 15 040 | 5 743 070 | 18 493 | 27.75% | 4.02% |
Tranquilidade - Corporação Angolana de Seguros | 6 040 943 | 12 384 | 4 778 955 | 15 388 | 26.41% | 3.31% |
Prudencial Seguros | 5 566 446 | 11 411 | 5 184 162 | 16 693 | 7.37% | 3.05% |
Fortaleza Segura | 4 599 202 | 9 428 | 3 535 386 | 11 384 | 30.09% | 2.52% |
Mundial Seguros | 3 668 458 | 7 520 | 2 669 080 | 8 594 | 37.44% | 2.01% |
BONWS Seguros | 3 212 211 | 6 585 | 4 764 982 | 15 343 | -32.59% | 1.76% |
STAS Seguros | 2 883 713 | 5 912 | 1 257 839 | 4 050 | 129.26% | 1.58% |
Protteja Seguros | 2 390 966 | 4 901 | 2 096 200 | 6 750 | 14.06% | 1.31% |
Aliança Seguros | 1 989 469 | 4 078 | 531 260 | 1 711 | 274.48% | 1.09% |
Liberty & Trevo (Angola) | 1 752 220 | 3 592 | 894 550 | 2 880 | 95.88% | 0.96% |
Sol Seguros | 1 551 471 | 3 181 | 195 916 | 631 | 691.91% | 0.85% |
Providência Royal Seguros | 693 727 | 1 422 | 1 677 020 | 5 400 | -58.63% | 0.38% |
Confiança Seguros | 365 229 | 749 | 1 327 703 | 4 275 | -72.49% | 0.20% |
Giant Magic Seguros | 328 729 | 674 | 14 271 | 46 | 2203.49% | 0.18% |
Triunfal Seguros | 273 979 | 562 | - | - | - | 0.15% |
Master Seguros | 255 729 | 524 | - | - | - | 0.14% |
Super Seguros | 109 730 | 225 | 140 025 | 451 | -21.64% | 0.06% |
Garantia Seguros | 73 231 | 150 | 70 162 | 226 | 4.37% | 0.04% |
Internacional Seguros | 54 981 | 113 | - | - | - | 0.03% |
AAA Seguros (2) | - | - | - | - | - | 0.00% |
Mandume Seguros (2) | - | - | - | - | - | 0.00% |
Glinn Seguros (2) | - | - | - | - | - | 0.00% |
Meu Seguros (2) | - | - | - | - | - | 0.00% |
Total | 182 498 850 | 374 123 | 139 726 796 | 449 920 | 30.61% | 100% |
(1) Growth rate in local currency
(2) Licenses revoked by the ARSEG
Angola's insurance market: turnover per class of business (2015-2019)
Figures in thousands USDClass of business | 2015 | 2016 | 2017 | 2018 | 2019 | 2018-2019 (1) evolution | 2019 shares |
---|---|---|---|---|---|---|---|
Accident, health and travel insurance | 377 474 | 370 116 | 389 097 | 242 344 | 208 132 | 34.90% | 55.63% |
Motor | 197 149 | 123 633 | 132 350 | 74 565 | 46 552 | -1.94% | 12.44% |
Energy | 67 716 | 6 997 | 86 587 | 45 393 | 35 638 | 23.32% | 9.53% |
Fire and natural disasters | 23 047 | 19 679 | 33 082 | 25 875 | 20 419 | 23.95% | 5.46% |
Marine | 28 755 | 18 760 | 12 699 | 13 503 | 14 342 | 66.83% | 3.83% |
General third-party liability | 63 861 | 9 754 | 10 156 | 8 813 | 6 463 | 15.19% | 1.73% |
Other property damage | 29 621 | 33 711 | 48 682 | 22 124 | 27 631 | 96.18% | 7.39% |
Miscellaneous | 28 133 | 19 855 | 18 885 | 7 257 | 5 708 | 23.54% | 1.52% |
Total non-life | 815 757 | 602 505 | 731 538 | 439 873 | 364 885 | 30.30% | 97.53% |
Life | 15 266 | 12 135 | 11 387 | 10 047 | 9 238 | 44.41% | 2.47% |
Grand total | 831 023 | 614 640 | 742 926 | 449 920 | 374 123 | 30.61% | 100% |
(1) Growth rate in local currency
Turnover 2019 per class of business
Angola's insurance market: incurred losses per non-life class of business (2015-2019)
Figures in thousands USDClass of business | 2015 | 2016 | 2017 | 2018 | 2019 | 2018-2019 (1) evolution |
---|---|---|---|---|---|---|
Accident, health and travel insurance | 200 327 | 225 456 | 226 392 | 149 516 | 126 550 | 32.95% |
Motor | 63 510 | 58 567 | 58 852 | 24 045 | 18 555 | 21.21% |
Energy | 74 | 3 | 351 | -580 | 10 482 | 2939.04% |
Fire and natural disasters | -2 730 | 2 921 | 71 507 | 14 136 | 2 037 | -77.37% |
Marine | 728 | 349 | 17 738 | 7 682 | -4 894 | -200.07% |
General third-party liability | 1 791 | 673 | -99 | 284 | 534 | 195.51% |
Other property damage | 13 103 | -4 352 | 32 199 | 8 405 | 1 438 | -73.12% |
Miscellaneous | 1 776 | 963 | 919 | 320 | 808 | 297.05% |
Total non-life | 278 578 | 284 580 | 407 859 | 203 808 | 155 511 | 19.85% |
(1) Growth rate in local currency
Angola's insurance market: loss ratio per non-life class of business (2015-2019)
Class of business | 2015 | 2016 | 2017 | 2018 | 2019 |
---|---|---|---|---|---|
Accident, health and travel insurance | 53.07% | 60.91% | 58.18% | 61.70% | 60.80% |
Motor | 32.21% | 47.37% | 44.47% | 32.25% | 39.86% |
Energy | 0.11% | 0.05% | 0.41% | -1.28% | 29.41% |
Fire and natural disasters | -11.85% | 14.85% | 216.15% | 54.63% | 9.98% |
Marine | 2.53% | 1.86% | 139.67% | 56.89% | -34.12% |
General third-party liability | 2.80% | 6.90% | -0.97% | 3.22% | 8.27% |
Other property damage | 44.24% | -12.91% | 66.14% | 37.99% | 5.21% |
Miscellaneous | 6.31% | 4.85% | 4.87% | 4.41% | 14.16% |
Total non-life | 34.15% | 47.23% | 55.75% | 46.33% | 42.62% |
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