Pension funds saw a drop of 64%, contradicting the positive trend in insurance, according to data from the Angolan Agency for Insurance Regulation and Supervision (ARSEG), relating to last year, recently released.
Contributions, according to ARSEG, were 191.698 billion kwanzas lower, falling from 300.789 billion to 109.090 billion kwanzas. The reduction in the payment of widow’s pensions, which fell by 1.60%, falling from 4.059 billion to 3.994 billion kwanzas, as well as the remission that reduced from 4.150 thousand of them to 4.128 billion kwanzas, influenced the fall. Among the benefits paid by type of pension, the highlights are pre-retirement with 1.275 billion, orphanhood with 4.329 billion and disability with 334.963 million kwanzas.
The institution that recorded the greatest variation in pension payments, according to ARSEG data, is Económico Fundos, linked to Banco Económico, with an increase of 636.47%. Its contributions increased from 2.007 billion to 14.785 billion kwanzas, followed by Nossa Seguros with a variation of 270.90%, increasing the contribution to 171.870 million kwanzas and surpassing the previous 46.339 million kwanzas. However, the institution that contributed to the drop in contributions during 2023 is Sonangol Vida. Of the 55.876 billion paid in the same period last year, it dropped to 54.172 billion kwanzas.
Insurance grows 18%
Gross premiums issued in the insurance sector rose from 312.744 billion kwanzas to 369.327 billion in 2023, an increase of 18.09%, according to data from ARSEG. Meanwhile, gross premiums were significantly boosted by the “non-life” sector, with a weight of 86.88% of total premiums written. It rose from the previous 287.407 billion to 320.854 billion kwanzas. The biggest contribution was from the disease segment with 123.899 billion, and petrochemicals with 57.803 billion kwanzas. In turn, the accident rate rose from 33% to 44%.
BY: Francisca Parente
