Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.
Axco’s Angola Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.
The Life & Benefits Report for Angola includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics
Real GDP growth (%)
Insurance Penetration (%)
Angola was a Portuguese colony for several centuries until independence was granted on 11 November 1975. This sparked a civil war between the Popular Liberation Movement of Angola (MPLA), subsequently backed by Cuba and USSR, and the National Union for the Total Independence of Angola (UNITA), which had the support of the west generally and South Africa in particular. In 2002 a formal ceasefire was signed between UNITA and the MPLA.
The Angolan insurance market continues to operate under challenging conditions. The oil price collapse in 2014 had a negative impact on the market which has been exacerbated by Angola's ongoing economic difficulties and in particular the current recession and devaluation of the currency.The Angolan economy and the insurance market is still heavily reliant on the energy sector although the government is taking steps to diversify the economy.