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Mozambique

Mozambique

Insurance Intelligence

Providing expert analysis, independent market insight and company data on the insurance industry.

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 Mozambique 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 Mozambique includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics

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Information for Mozambique can be seen in:

Insurance Market Reports (Non-Life) Insurance Market Reports (Life & Benefits) Regulatory Alerts Global Statistics Market Profiles Insight Compliance Compliance Point Clinical Trials Axco API Insight Risk Manager

Country Information

Time-zone
Capital city
Currency
Population
Real GDP growth (%)
Inflation (%)
Total GWP (USD)
Insurance Penetration (%)
GMT +2
Maputo
MZN
31.31 mn
1.85 (2020)
8.17%
277.75 (mn)
1.85

Market sources report that the economic difficulties caused by the pandemic have put the non-life insurance market in Mozambique under strain. Gross written non-life premiums (including personal accident and health) in 2018 amounted to MZN 11.40bn, a slight reduction of 0.89% from 2017.

Mozambique is poised for major foreign investment in its energy sector. The insurance market is having ongoing discussions about providing a market-wide response and solution to this investment although no conclusion has yet been reached.

There are 21 insurance companies operating in the Mozambican market: four composite insurers, four life companies and 13 non-life insurers.

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