Angola: Creation of Import Insurance Is ARSEG's Priority

Sep 29, 2017 | AngolaPress; All Africa

The implementation of the legal tool on Import Insurance of Merchandise and the start-up of the National Reinsurance Company (AngoRe) are priorities of the Angolan Agency for Insurance Regulation and Supervision (ARSEG) this year.

These initiatives, already underway, will be implemented after the inauguration of the new Executive and the start of the new legislature, the chairman of the Angolan Agency for Insurance Regulation and Supervision (ARSEG) Aguinaldo Jaime, on the occasion of the IV anniversary of the institution, marked on Wednesday. In this regard, he said that ARSEG will continue taking measures to make the insurance market and the pension fund more efficient, guaranteeing the protection of consumers and third parties. He explained that Solvency II refers to a new regime voted by the European Parliament for all insurers and reinsurers in the European Union. However, in the case of Angola, the official said, although the country's insurance market is in constant development, the implementation of Solvency II will take some time, he said. On the occasion, the Chairman t of the Executive Board of Lusitânia Insurance Company, Fernando Nogueira, stressed that the Angolan insurance market tends to be stronger and stronger, taking into account the growth of insurance companies. The Angolan Agency for Insurance Regulation and Supervision is the body responsible for regulating, supervising and monitoring the insurance, reinsurance, pension fund and insurance mediation activities in Angola. Source: All Africa