Angola Insurance Report Q1 2018
BMI View: In common with almost all sectors of Angola's economy, the country's insurance markets have been hit hard by the economic downturn of 2014-16, caused by the crash in oil prices. The impact on the government's finances and inflation means that the effects will be prolonged, barring a major turnaround in oil prices. As such, while most insurance sub-sectors are under-developed and are continuing to generate growth in nominal terms, it will be some years before growth re-emerges in real terms. On a longer-term view, real growth should resume, although rampant corruption and the concentration of oil wealth within the tiny elite mean that the overwhelming majority of citizens will remain far too poor to consider anything but the most basic non-life basic insurance lines, with life insurance remaining especially out of reach.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook