Development of Insurance in Angola

By: Israel Muchena, Director – Agriculture Insurance Division, Hollard Mozambique

It is widely expected that insurance will develop in Angola and countries rich in natural resources, but will it?

Israel Muchena follows up the success of his award-winning book, Development of Insurance in Mozambique, by seeking to answer that question and many more in this research study. He begins by exploring the history and development of the insurance market of Angola. Get answers to questions such as: • What is the current insurance law of Angola? • What are the key conditions and criteria for authorisation of an insurance license? • What are the key insurance-related obligatory reporting requirements for insurers in Angola? The author also explains the role of insurance regulators in Angola, the entities legally allowed to conduct insurance business, what mechanisms exist to protect consumers when there are disputes, and more. Filled with insights on key challenges and opportunities related to insurance in Angola, this study highlights how to achieve increased penetration rates while fostering an environment conducive to success.

Israel Muchena earned a master of arts degree in development studies from the Nelson Mandela Metropolitan University of South Africa. He has vast experience in the insurance and reinsurance business with focus on African Portuguese-speaking markets, including Angola.

He is also the author of Development of Insurance in Mozambique, which was awarded the 2017 African Insurance Book of the Year by the African Insurance Organisation.