Insurance industry in Angola: turnover nears 1 billion USD

Fernando Aguiar, chairman of the institute of insurance supervision the (ISS), commended the development of the insurance industry in Angola since its deregulation in 2001, estimating that the authorities have made the necessary changes to boost the sector.

In 2001, the written premiums amounted to 86 million USD. Local professionals reckon that the bar of 1 billion USD of premiums will be reached in 2012. The country has today 21 insurance companies and 17 brokerage firms.