Angola Insurance Q4 2019
The overall prospects for Angola’s insurance industry remain limited, as the country continues to emerge from aneconomic crisis created by overdependence on the oil market and the crash in hydrocarbon prices in the middle of this decade.While we expect quite strong growth for the life market, this sector is rising from an extremely low base and only represents 3.1% oftotal insurance premiums, with the rest of the country’s insurance market accounted for by the non-life sector. We believe that thenon-life sector will undergo modest nominal growth over the coming five years, with growth in the high single digits. The health andpersonal accident category of the non-life sector continues to dominate the segment, while the property segment will likelyoutperform.
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