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Market Research Report

The Insurance Industry in Angola, Key Trends and Opportunities to 2022

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Published Content info 107 Pages
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The Insurance Industry in Angola, Key Trends and Opportunities to 2022
Published: September 12, 2018 Content info: 107 Pages
Description

GlobalData's "The Insurance Industry in Angola, Key Trends and Opportunities to 2022", report provides detailed analysis of the market trends, drivers and challenges in the Angolan insurance industry.

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Angolan economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Inside this report, we look at the top themes, its predictions and identify winners and losers.

This report provides in-depth market analysis, information and insights into the Angolan insurance industry, including -

  • The Angolan insurance industry's growth prospects by segment and category
  • A comprehensive overview of the Angolan economy and demographics
  • Details of the competitive landscape in the Angolan insurance industry
  • The various distribution channels in the Angolan insurance industry
  • Details of regulatory policy applicable to the Angolan insurance industry
  • Analysis of natural hazards in the Angolan insurance industry

Key Highlights

  • As of March 2018, the insurers operate through 98 branches, 36 agencies and 340 brokers in the country.
  • In 2016 and 2017, insurers in association with ARSEG conducted annual financial literacy campaigns in Angola.
  • In 2016, ARSEG, in association with the Ministry of Finance, announced the establishment of the country's first domestic reinsurer, the National Reinsurance Company (AngoRe).

Scope

This report provides a comprehensive analysis of the insurance industry in Angola -

  • It provides historical values for the Angolan insurance industry for the report's 2013-2017 review period, and projected figures for the 2017-2022 forecast period.
  • It offers a detailed analysis of the key segments in the Angolan insurance industry, with market forecasts to 2022.
  • It covers an exhaustive list of parameters, including written premium and claims.
  • It analyzes the various distribution channels in Angola.
  • It profiles the top insurance companies in Angola, and outlines the key regulations affecting them.

Reasons to buy

  • Make strategic business decisions using in-depth historic and forecast market data related to the Angolan insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Angolan insurance industry.
  • Assess the competitive dynamics in the Angolan insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Angolan insurance industry and their impact on companies and the industry's future.
Table of Contents
Product Code: GDIS1758MR

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Industry Outlook

  • 4.1 Industry Indicators
    • 4.1.1 Direct written premium
    • 4.1.2 Insurance density
    • 4.1.3 Gross claims

5 Life Insurance Outlook

  • 5.1 Segment Indicators
    • 5.1.1 Direct written premium
    • 5.1.2 Gross claims
    • 5.1.3 Penetration

6 General Insurance Outlook

  • 6.1 Segment Indicators
    • 6.1.1 Direct written premium
    • 6.1.2 Gross claims
    • 6.1.3 Penetration
  • 6.2 Property Insurance
    • 6.2.1 Direct written premium
    • 6.2.2 Penetration
    • 6.2.3 Claims
  • 6.3 Motor Insurance
    • 6.3.1 Direct written premium
    • 6.3.2 Penetration
    • 6.3.3 Claims
  • 6.4 Liability Insurance
    • 6.4.1 Direct written premium
    • 6.4.2 Penetration
    • 6.4.3 Claims
  • 6.5 Marine, Aviation and Transit Insurance
    • 6.5.1 Direct written premium
    • 6.5.2 Penetration
    • 6.5.3 Claims
  • 6.6 Personal Accident and Health Insurance
    • 6.6.1 Direct written premium
    • 6.6.2 Penetration
    • 6.6.3 Claims
  • 6.7 Miscellaneous
    • 6.7.1 Direct written premium
    • 6.7.2 Penetration
    • 6.7.3 Claims

7 Reinsurance Outlook

8 Distribution Channel Outlook

9 Natural and Man-Made Hazards

  • 9.1 Flooding
  • 9.2 Droughts
  • 9.3 Epidemics
  • 9.4 Exposure

10 Competitive Landscape

  • 10.1 Company Profiles
    • 10.1.1 Empresa Nacional de Seguros e Resseguros de Angola - company overview
    • 10.1.2 AAA Seguros SA - company overview
    • 10.1.3 Saham Angola Seguros - company overview
    • 10.1.4 Global Seguros SA - company overview
    • 10.1.5 Nova Sociedade de Seguros de Angola SA - company overview

11 Governance, Risk and Compliance

  • 11.1 Legislation Overview and Historical Evolution
  • 11.2 Latest Changes in Regulation
  • 11.3 Legislation and Market Practice by Type of Insurance
    • 11.3.1 Life insurance
    • 11.3.2 Property insurance
    • 11.3.3 Motor insurance
    • 11.3.4 Liability insurance
    • 11.3.5 Marine, aviation and transit insurance
    • 11.3.6 Personal accident and health insurance
  • 11.4 Compulsory Insurance
    • 11.4.1 Workmen's compensation
    • 11.4.2 Aviation liability insurance
    • 11.4.3 Motor third-party liability insurance
    • 11.4.4 Compulsory Constitution of Work Insurance
    • 11.4.5 Professional liability insurance of reinsurance brokers
    • 11.4.6 Environmental liability insurance
    • 11.4.7 Liability insurance for ships with respect to oil pollution
  • 11.5 Supervision and Control
    • 11.5.1 African Insurance Organization
    • 11.5.2 Angolan Agency of Regulation and Supervision of Insurance
    • 11.5.3 Angola Insurance Association
  • 11.6 Non-Admitted Insurance Regulations
    • 11.6.1 Overview
    • 11.6.2 Intermediaries
    • 11.6.3 Market practices
    • 11.6.4 Fines and Penalties
  • 11.7 Company Registration and Operations
    • 11.7.1 Type of insurance organization
    • 11.7.2 Establishing a local company
    • 11.7.3 Foreign ownership
    • 11.7.4 Types of license
    • 11.7.5 Capital requirements
    • 11.7.6 Solvency margin
    • 11.7.7 Reserve requirements
    • 11.7.8 Investment regulations
    • 11.7.9 Statutory return requirements
    • 11.7.10 Fee structure
  • 11.8 Taxation
    • 11.8.1 Insurance premium or policy taxation
    • 11.8.2 Withholding taxes on premium paid overseas
    • 11.8.3 Corporate tax
    • 11.8.4 VAT
    • 11.8.5 Captives
  • 11.9 Legal System
    • 11.9.1 Introduction
    • 11.9.2 Access to court
    • 11.9.3 Alternative dispute resolution

12 Databook

  • 12.1 Life Insurance
    • 12.1.1 Policies and premium
    • 12.1.2 Claims and expenses
  • 12.2 General Insurance
    • 12.2.1 Policies and premium
    • 12.2.2 Claims and expenses
    • 12.2.3 Property insurance
    • 12.2.4 Property insurance by category
    • 12.2.5 Motor insurance
    • 12.2.6 Liability insurance
    • 12.2.7 Marine, aviation and transit insurance
    • 12.2.8 Personal accident and health insurance
    • 12.2.9 Miscellaneous

13 Definitions and Methodology

  • 13.1 Definitions
  • 13.2 Methodology

14 About GlobalData

  • 14.1 Contact GlobalData
  • 14.2 About GlobalData
  • 14.3 GlobalData's Services
  • 14.4 Disclaimer

List of Tables

  • Table 1: Angolan Insurance Industry - Key Facts, 2017
  • Table 2: Angolan Insurance Industry - Leading Insurers, 2017
  • Table 3: Angolan Government Credit Ratings
  • Table 4: Angolan Insurance Industry - Direct Written Premium (AOA Billion and US$ Million), 2013-2017
  • Table 5: Angolan Insurance Industry - Direct Written Premium (AOA Billion and US$ Million), 2017-2022
  • Table 6: Angolan Insurance Industry - Density (AOA), 2013-2017
  • Table 7: Angolan Insurance Industry - Density (AOA), 2017-2022
  • Table 8: Angolan Insurance Industry - Gross Claims (AOA Billion and US$ Million), 2013-2017
  • Table 9: Angolan Insurance Industry - Gross Claims (AOA Billion and US$ Million), 2017-2022
  • Table 10: Angolan Life Insurance - Direct Written Premium (AOA Billion and US$ Million), 2013-2017
  • Table 11: Angolan Life Insurance - Direct Written Premium (AOA Billion and US$ Million), 2017-2022
  • Table 12: Angolan Life Insurance - Gross Claims (AOA Billion and US$ Million), 2013-2017
  • Table 13: Angolan Life Insurance - Gross Claims (AOA Billion and US$ Million), 2017-2022
  • Table 14: Angolan General Insurance - Direct Written Premium (AOA Billion and US$ Million), 2013-2017
  • Table 15: Angolan General Insurance - Direct Written Premium (AOA Billion and US$ Million), 2017-2022
  • Table 16: Angolan General Insurance - Gross Claims (AOA Billion and US$ Million), 2013-2017
  • Table 17: Angolan General Insurance - Gross Claims (AOA Billion and US$ Million), 2017-2022
  • Table 18: Angolan Property Insurance - Direct Written Premium (AOA Billion and US$ Million), 2013-2017
  • Table 19: Angolan Property Insurance - Direct Written Premium (AOA Billion and US$ Million), 2017-2022
  • Table 20: Angolan Property Insurance - Gross Claims (AOA Billion and US$ Million),2013-2017
  • Table 21: Angolan Property Insurance - Gross Claims (AOA Million and US$ Thousands), 2017-2022
  • Table 22: Angolan Motor Insurance - Direct Written Premium (AOA Billion and US$ Million), 2013-2017
  • Table 23: Angolan Motor Insurance - Direct Written Premium (AOA Billion and US$ Million), 2017-2022
  • Table 24: Angolan Motor Insurance - Gross Claims (AOA Billion and US$ Million),2013-2017
  • Table 25: Angolan Motor Insurance - Gross Claims (AOA Billion and US$ Million), 2017-2022
  • Table 26: Angolan Liability Insurance - Direct Written Premium (AOA Billion and US$ Million), 2013-2017
  • Table 27: Angolan Liability Insurance - Direct Written Premium (AOA Billion and US$ Million), 2017-2022
  • Table 28: Angolan Liability Insurance - Gross Claims (AOA Million and US$ Thousands),2013-2017
  • Table 29: Angolan Liability Insurance - Gross Claims (AOA Million and US$ Thousands), 2017-2022
  • Table 30: Angolan Marine, Aviation and Transit Insurance - Direct Written Premium (AOA Billion and US$ Million), 2013-2017
  • Table 31: Angolan Marine, Aviation and Transit Insurance - Direct Written Premium (AOA Billion and US$ Million), 2017-2022
  • Table 32: Angolan Marine, Aviation and Transit Insurance - Gross Claims (AOA Million and US$ Thousands),2013-2017
  • Table 33: Angolan Marine, Aviation and Transit Insurance - Gross Claims (AOA Million and US$ Thousands), 2017-2022
  • Table 34: Angolan Personal Accident and Health Insurance - Direct Written Premium (AOA Billion and US$ Million), 2013-2017
  • Table 35: Angolan Personal Accident and Health Insurance - Direct Written Premium (AOA Billion and US$ Million), 2017-2022
  • Table 36: Angolan Personal Accident and Health Insurance - Gross Claims (AOA Billion and US$ Million),2013-2017
  • Table 37: Angolan Personal Accident and Health Insurance - Gross Claims (AOA Billion and US$ Million), 2017-2022
  • Table 38: Angolan Miscellaneous - Direct Written Premium (AOA Billion and US$ Million), 2013-2017
  • Table 39: Angolan Miscellaneous - Direct Written Premium (AOA Billion and US$ Million), 2017-2022
  • Table 40: Angolan Miscellaneous - Gross Claims (AOA Million and US$ Thousands),2013-2017
  • Table 41: Angolan Miscellaneous - Gross Claims (AOA Million and US$ Thousands), 2017-2022
  • Table 42: Angolan Insurance Industry - Leading Insurers, 2017
  • Table 43: Empresa Nacional de Seguros e Resseguros de Angola - Key Facts
  • Table 44: AAA Seguros SA - Key Facts
  • Table 45: Saham Angola Seguros - Key Facts
  • Table 46: Global Seguros SA - Key Facts
  • Table 47: Nova Sociedade de Seguros de Angola SA - Key Facts
  • Table 48: Angola - Insurance Regulatory Framework Key Features
  • Table 49: Angola - Life Insurance Regulatory Framework
  • Table 50: Angola - Property Insurance Regulatory Framework
  • Table 51: Angola - Motor Insurance Regulatory Framework
  • Table 52: Angola - Liability Insurance Regulatory Framework
  • Table 53: Angola - Minimum Amount to be Insured by Aircraft Owners Against Third-Party Liability
  • Table 54: Angola - Minimum Amount to be Insured by Automobile Owners Against Third-Party Liability
  • Table 55: Angola - Corporate Tax Rates for the Financial Year 2017
  • Table 56: Angolan Life Insurance - Policies and Premium, 2013-2017
  • Table 57: Angolan Life Insurance - Policies and Premium, 2017-2022
  • Table 58: Angolan Life Insurance - Claims and Expenses, 2013-2017
  • Table 59: Angolan Life Insurance - Claims and Expenses, 2017-2022
  • Table 60: Angolan General Insurance - Policies and Premium, 2013-2017
  • Table 61: Angolan General Insurance - Policies and Premium, 2017-2022
  • Table 62: Angolan General Insurance - Claims and Expenses, 2013-2017
  • Table 63: Angolan General Insurance - Claims and Expenses, 2017-2022
  • Table 64: Angolan General Insurance - Property Insurance, 2013-2017
  • Table 65: Angolan General Insurance - Property Insurance, 2017-2022
  • Table 66: Angolan General Insurance - Property Insurance by Category, 2013-2017
  • Table 67: Angolan General Insurance - Property Insurance by Category, 2017-2022
  • Table 68: Angolan General Insurance - Motor Insurance, 2013-2017
  • Table 69: Angolan General Insurance - Motor Insurance, 2017-2022
  • Table 70: Angolan General Insurance - Liability Insurance, 2013-2017
  • Table 71: Angolan General Insurance - Liability Insurance, 2017-2022
  • Table 72: Angolan General Insurance - Marine, Aviation and Transit Insurance, 2013-2017
  • Table 73: Angolan General Insurance - Marine, Aviation and Transit Insurance, 2017-2022
  • Table 74: Angolan General Insurance - Personal Accident and Health Insurance, 2013-2017
  • Table 75: Angolan General Insurance - Personal Accident and Health Insurance, 2017-2022
  • Table 76: Angolan General Insurance - Miscellaneous, 2013-2017
  • Table 77: Angolan General Insurance - Miscellaneous, 2017-2022
  • Table 78: Insurance Industry Definitions

List of Figures

  • Figure 1: Angolan Real GDP (AOA Trillion), 2013-2022
  • Figure 2: Angolan Exchange Rate (AOA per US$), 2013-2022
  • Figure 3: Angolan Consumer Price Inflation (%), 2013-2022
  • Figure 4: Angolan Current Account Balance as Percentage of GDP (%), 2013-2022
  • Figure 5: Angolan Unemployment Rate, 2013-2022
  • Figure 6: Angolan Population by Age Group, 2013-2022
  • Figure 7: Angolan Insurance Industry - Direct Written Premium (AOA Billion), 2013-2022
  • Figure 8: Angolan Insurance Industry - Density (AOA), 2013-2022
  • Figure 9: Angolan Insurance Industry - Gross Claims (AOA Billion), 2013-2022
  • Figure 10: Angolan Life Insurance - Direct Written Premium (AOA Billion), 2013-2022
  • Figure 11: Angolan Life Insurance - Gross Claims (AOA Billion), 2013-2022
  • Figure 12: Angolan Life Insurance - Penetration (%), 2013-2017
  • Figure 13: Angolan Life Insurance - Penetration (%), 2017-2022
  • Figure 14: Angolan General Insurance - Direct Written Premium (AOA Billion), 2013-2022
  • Figure 15: Angolan General Insurance - Gross Claims (AOA Billion), 2013-2022
  • Figure 16: Angolan General Insurance - Penetration (%), 2013-2017
  • Figure 17: Angolan General Insurance - Penetration (%), 2017-2022
  • Figure 18: Angolan Property Insurance - Direct Written Premium (AOA Billion), 2013-2022
  • Figure 19: Angolan Property Insurance - Penetration (%), 2013-2017
  • Figure 20: Angolan Property Insurance - Penetration (%), 2017-2022
  • Figure 21: Angolan Property Insurance - Gross Claims (AOA Billion), 2013-2022
  • Figure 22: Angolan Motor Insurance - Direct Written Premium (AOA Billion), 2013-2022
  • Figure 23: Angolan Motor Insurance - Penetration (%), 2013-2017
  • Figure 24: Angolan Motor Insurance - Penetration (%), 2017-2022
  • Figure 25: Angolan Motor Insurance - Gross Claims (AOA Billion), 2013-2022
  • Figure 26: Angolan Liability Insurance - Direct Written Premium (AOA Billion), 2013-2022
  • Figure 27: Angolan Liability Insurance - Penetration (%), 2013-2017
  • Figure 28: Angolan Liability Insurance - Penetration (%), 2017-2022
  • Figure 29: Angolan Liability Insurance - Gross Claims (AOA Million), 2013-2022
  • Figure 30: Angolan Marine, Aviation and Transit Insurance - Direct Written Premium (AOA Billion), 2013-2022
  • Figure 31: Angolan Marine, Aviation and Transit Insurance - Penetration (%), 2013-2017
  • Figure 32: Angolan Marine, Aviation and Transit Insurance - Penetration (%), 2017-2022
  • Figure 33: Angolan Marine, Aviation and Transit Insurance - Gross Claims (AOA Million), 2013-2022
  • Figure 34: Angolan Personal Accident and Health Insurance - Direct Written Premium (AOA Billion), 2013-2022
  • Figure 35: Angolan Personal Accident and Health Insurance - Penetration (%), 2013-2017
  • Figure 36: Angolan Personal Accident and Health Insurance - Penetration (%), 2017-2022
  • Figure 37: Angolan Personal Accident and Health Insurance - Gross Claims (AOA Billion), 2013-2022
  • Figure 38: Angolan Miscellaneous - Direct Written Premium (AOA Billion), 2013-2022
  • Figure 39: Angolan Miscellaneous - Penetration (%), 2013-2017
  • Figure 40: Angolan Miscellaneous - Penetration (%), 2017-2022
  • Figure 41: Angolan Miscellaneous - Gross Claims (AOA Million), 2013-2022
  • Figure 42: Angola - Insurance Supervision and Control at Various Levels
  • Figure 43: Angola - Insurance Regulatory Frameworks for Company Registration and Operation
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