Ver Angola

Banking and Insurance

ASAN says only one in five vehicles has mandatory insurance

The penetration rate of mandatory car insurance in Angola is 18 percent, in a market with an estimated two million vehicles in which only 365,944 are insured, a sector association announced this Tuesday, considering the “dramatic scenario”.

: Ampe Rogério/Lusa
Ampe Rogério/Lusa  

The information was transmitted this Tuesday by members of the board of the Association of Insurance Companies of Angola (ASAN), admitting that the estimated number of vehicles circulating in the country is below the real figure, given the lack of official data on the country's vehicle fleet.

"There is one piece of data that is reliable and certain, which is the number of insured vehicles, because this is part of the ASAN database", said João Sena, member of the association and director of an insurance company that operates in Angola.

João Sena highlighted that the estimate of the number of vehicles that will be circulating in the country was the result of a consultation with the main car sellers, admitting, however, that the value "is low".

"There will be more, but as there is no official data, neither from the Department of Roads and Traffic nor from other entities, it is difficult to make an estimate, so we believe we are being cautious", he explained.

The person responsible was speaking as part of a broad action to raise awareness among motorists and society in general about the importance of car insurance and the use of the friendly motor accident declaration (DAAA).

He warned, at the time, of the "dramatic scenario" as a result of the low uptake of car insurance, noting that the overwhelming majority of motorists in Angola travel without civil liability insurance.

José Araújo, executive director of ASAN, pointed out the need for greater citizen awareness and greater police supervision as factors for increasing the penetration rate of car insurance, remembering that it protects people and property.

The average annual price of compulsory motor third party liability insurance is worth 30,000 kwanzas, as ASAN members said this Tuesday, expressing concern about the "sense of impunity" associated with non-compliance with the law.

"This harsh reality affects the safety of motorists and those on the road", lamented João Sena, with 25 years in the insurance industry, mainly linked to accidents and car insurance.

The person responsible also assured that the use of the DAAA is an "easy mechanism" and can help insured motorists, in the event of an accident on public roads, to overcome difficulties, especially in relation to the identification of the parties, description, forwarding and acceptance of the claim by part of insurance companies.

The insurance market in Angola, regulated by the Angolan Insurance Regulation and Supervision Agency (ARSEG), has 21 operators and only 15 are members of ASAN, making up a market share of 97 percent.


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