According to the insurer, the operation was carried out by increasing the nominal value of each share from 7.8 million kwanzas to 9.0 million kwanzas in light of the requirements made by the Angolan Insurance Regulation and Supervision Agency (ARSEG).
ARESEG establishes the adjustment of the share capital of insurance companies with the characteristics of Fidelidade Angola to a minimum of 3.5 billion kwanzas.
The formalization of the operation was planned and scheduled for the final date, "with a view to fully complying in advance with what was defined in the regulatory standard, which allows this to happen until the end of 2024", says the insurer.
The CEO of Fidelidade Angola, Luís Alves, quoted in a statement, expressed satisfaction with the increase in the company's share capital considering that, "once again, Fidelidade Angola achieves this important milestone in the life of the insurance company".
Heir to an insurance group with more than 200 years of activity in Portugal and in a total of 13 countries, Fidelidade Angola was established in 2011, as Universal Seguros, opening the first agency in 2013, in Luanda.
Fidelidade Angola, which acquired its current name in 2017, currently has more than 30 points of sale in the provinces of Luanda, Benguela, Bié, Cabinda, Cuando-Cubango, Huambo, Huíla and Malanje.