ARSEG to suspend the licenses of three insurance companies in Angola

The Angolan regulator (ARSEG) has suspended the licenses of two insurance companies. They are Mandume Seguros and Glinn Seguros, who were granted license in May 2012 and August 2016 respectively.

This decision follows an investigation that has revealed that the two insurers never began to practice in the insurance industry. Another insurer, AAA Seguros, has also seen his license suspended on February 14, 2020 following a voluntary wind-up by its shareholders.

It should be noted that the Angolan market will henceforth count 25 licensed insurance companies.

Read also | Angola insurance market