Insurance in Angola

The Agência Angolana de Regulação e Supervisão de Seguros (ARSEG) regulates and supervises Angola’s insurance market under Lei 18/22. Insurance companies need ARSEG authorisation and registration before starting business. The Instituto Nacional de Segurança Social (INSS) administers statutory social insurance, while the Inspecção Geral do Trabalho (IGT) supervises employment-related insurance obligations. No separate province- or city-specific insurance rules were established in the available research; national Angolan law therefore determines the main requirements across the country. Private insurance can cover life, death, annuities, accidents, work incapacity, disability, marriage or childbirth, property damage, fire and natural events, theft, motor-vehicle damage, transport, business interruption, liability, credit, surety, legal protection, assistance and cyber risks. Life products can include death cover, pure life cover, mixed policies, annuities, unit-linked products, capitalisation and collective pension-fund management. Health insurance is adjacent to this subject and should be assessed separately when health care is the primary concern. The availability of a particular product, its exclusions and the insurer’s current authorisation must be checked individually. Some insurance is legally required only for specific activities or risks. The main categories identified by ARSEG are liability, personal accidents, property damage, fire, and occupational accidents. Occupational accident and occupational disease insurance under Decreto 53/05 applies to employees, apprentices and interns covered by an employment contract. The employer must transfer this risk to an Angolan insurer, report the beginning or end of employment to the insurer within 30 days, and ensure that the insurer confirms receipt within seven days. Existing cases require proof of the policy and premium payment within 90 days, while future cases are connected to INSS registration. The employer pays the premium and may not deduct it from wages. Public employees and certain foreign non-residents are excluded, and rules for self-employed workers may provide for voluntary cover. Motor-vehicle liability insurance under Decreto 35/09 applies to holders, usufructuaries, buyers under retention of title and leasing users of motorised land vehicles, including trailers and semi-trailers. It covers civil liability towards third parties and is required for public transport vehicles. Driving without a policy is illegal and can lead to seizure of the vehicle or a fine. When a vehicle is sold, its policy ends at 24:00 on the day of sale unless the seller has already insured another vehicle under the applicable rule; the buyer needs a new policy. The Fundo de Garantia Automóvel (FGA) can compensate death or bodily injury caused by an uninsured vehicle, but it does not generally replace cover for damage to the victim’s property. Aviation liability insurance under Decreto 9/09 covers aircraft registered in Angola and foreign aircraft using Angolan airports or airspace. Operators of aviation infrastructure and assistance services also have liability obligations, subject to applicable international rules. Other sector-specific requirements can concern construction, sport, financial leasing and fire insurance for common parts of buildings. The exact scope depends on the relevant sector legislation and should not be inferred from the general existence of an insurance category. INSS social insurance is a statutory system rather than a private insurance contract. It covers risks including sickness, maternity, occupational risks, invalidity, old age, death, unemployment and family responsibilities. Employers generally register a business within 30 days of creation and register employees within 30 days of starting work; some local rules allow up to 60 days. Under the general regime, the contribution is 8% for the employer and 3% for the employee on the contributory gross wage base. The employer remits both shares monthly by the 10th day of the following month, and late payment attracts interest of 1% per month. Self-employed workers have an 8% basic scheme for old age and death and an 11% extended scheme. A low-income agricultural reference regime for people earning one to three minimum wages uses 4% for old age and death only. INSS registration, payroll lists and contribution receipts are handled through the INSS system. INSS social protection and the employer’s occupational-accident policy operate in parallel and are not automatically the same cover. Microinsurance is permitted under Lei 18/22 for lower-income groups. A company may offer life or non-life microinsurance separately or together after receiving ARSEG authorisation. Agents and brokers, banks, microfinance institutions and NGOs can act as specific intermediaries, and policy conditions must be submitted to ARSEG before use. The exact capital thresholds depend on implementing regulations, and the existence of a particular microinsurance product or active provider should be confirmed with ARSEG. Insurance can be taken out directly from an authorised insurer or through an approved agent or broker. A corretor is independent and acts in the customer’s interest. Lei 6/24 also provides for bancassurance and the Mediador a Título Acessório, an intermediary operating alongside another main activity. Before signing, check the insurer or intermediary’s current ARSEG status, whether the policy is Vida or Não Vida, the insured capital, exclusions, deductible, duration, territory, payment dates and claims channel. The policy normally consists of general, special and individual conditions. State the risk accurately and report material changes, such as a changed address, vehicle or use of property, without delay. Premiums for risks in Angola are subject to Angolan taxes and fees and are generally risk-based rather than uniform. For compulsory occupational-accident cover, a jointly issued tariff and standard conditions apply. Notify a loss without delay and follow the policy’s claims procedure. ARSEG consumer guidance refers to a maximum of eight days for reporting a claim, while the policy may require specific documents, witnesses, damage estimates and steps to reduce further loss. The agreed deductible remains with the policyholder. Deliberately false risk information can lead to avoidance of the contract or recovery of payments. If the insurer has completed investigation or expert assessment but has not paid within 30 days, statutory default interest may apply, except for transport insurance. Non-payment of premiums can suspend cover and later lead to termination after a registered demand and grace period. An insurer must maintain an autonomous complaints office and provide a complete, reasoned response within 20 business days. If the complaint remains unresolved or receives no response, the customer can complain to ARSEG. After an unsuccessful internal complaint, the Provedor do Cliente can issue advisory recommendations; court proceedings and other legal remedies remain available. Portfolio transfers require ARSEG authorisation and publication. After publication, general policyholders normally have 15 days to cancel and microinsurance policyholders 30 days. In 2026, ARSEG revoked Global Seguros’ authorisation and transferred its Vida and Não Vida portfolio to ENSA, NOSSA, Fidelidade and AMUSE; affected customers received a 15-day cancellation period under the reported measure. ARSEG’s 2025 market report, published on 31 August 2026, recorded 22 authorised insurers, gross premiums of 578.4 billion Kz and 92% of premiums in non-life insurance. Claims costs rose by 77% to 251.3 billion Kz, the claims ratio was 43%, the combined ratio was 75.10% and the net result was 46.6 billion Kz. Insurance penetration remains very low, so compulsory motor and occupational-accident cover have particularly high practical relevance, while voluntary cover is concentrated especially around businesses, vehicles, property, liability and life risks.