Africa-Press – Angola. The Insurance, Pension Funds and Insurance Mediation sector contributed 2.22 percent of the Gross Domestic Product (GDP) in the first quarter of this year, compared to the same period in 2020 and 2021, respectively.
The data are included in the main indicators of the sector, referring to the I quarter, recently published by the Angolan Insurance Regulation and Supervision Agency (ARSEG), in its capacity as regulator.
Regarding credit to the economy in the first quarter, it amounted to 4.6 billion compared to the first quarter of 2021, which reached around 4.3 billion. A decrease is noted compared to 2020, which reached 4.6 billion kwanzas.
Claims costs were around 19.3 billion kwanzas, with a total of 20.24 and 28.20 percent in the Life and Non-Life lines respectively, while gross premiums written reached around 95.8 thousand million kwanzas, against approximately 70.1 billion kwanzas in 2021. According to data from the main indicators, in terms of production, the Life and Non-Life branch ENSA leads the ranking of insurers, with 50.63 percent , SANLAM with 15.00 percent while Nossa Seguros reached 12.80 percent.
The document also highlights the contributions of pension fund management entities, which reached around 117 billion kwanzas in 2022 and 21 billion in 2021.
While the benefits paid by type of pension reached about 22 billion kwanzas in the first quarter of 2022 compared to the same period in 2021, with approximately 12 billion kwanzas, with emphasis on old age, pre-retirement, disability, widowhood , orphanage and redemption.
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