The panorama of the Angolan insurance market was presented on Thursday by the chairman of the board of directors of the Angolan Agency for Regulation and Supervision of Insurance (Arseg), noting that the sector "resiliently faces the country's economic challenges".
According to Elmer Serrão, insurers during the year in question paid their policyholders just over 102 billion kwanzas, representing a claim rate of 37 percent against 41 percent in the previous year.
The official, who was speaking on Thursday at the closing of the II.º Forum Banca e Seguros, held in Luanda, underlined that, as in 2020, in 2021 health, accident and travel insurance continue to be the most predominant branch in the business portfolio of insurance companies.
The three branches together accounted for a weight of 50 percent, followed by the petrochemicals branch with 21 percent, automobiles with 9 percent, trends that continue in 2022.
With regard to insurance mediation, the chairman of Arseg made it known that the sector has around 1450 mediators, of which 1351 are natural persons, with 8 percent of the total gross premiums issued on the market in 2021 due to its mediation activity.
"With regard to pension funds, the financial mechanism for guaranteeing a decent retirement, we recorded a growth in contributions to the funds of around 14 percent compared to the previous year, reaching 86 billion kwanzas", he stressed.
Paid pensions grew by more than 21 percent, reaching around 70 billion kwanzas.
Elmer Serrão also added that despite the challenging context that the country's economy is going through, the insurance sector "has resiliently sought to find solutions in the management of its business operations".
"Solutions that minimize the negative impact of low economic growth, high levels of inflation and the restrictive policies put in place to control this inflation", he concluded.
"Viable Solutions for Economic Growth" was the motto of the forum promoted by the Association of Economic Journalists of Angola (Ajeco).
