russ. port.
| Insurance Sector Growing The volume of insurance premiums reached
$610 million between 2001 and 2003 according to the Institute
for Insurance Oversight. The Institute attributed the growth
to the introduction of competition into the sector in 2001 when
AAA began competing with ENSA, the national insurance company.
At the time competition was introduced the volume of insurance
activity was $80 million. New insurance companies are poised
to further expand the sector. Currently, Angola has three insurance
providers: ENSA, AAA and Novo Seguros. A fourth company should
be licensed within the next two months and two other companies
have begun the legal incorporation process. One of the new insurance
companies will have the World Bank as a shareholder. A spokesman
for the Institute said the new companies will stimulate competition
which should result in better services and better prices for
consumers.
 Embassy of Republic of Angola, 2005 |