Angolan National Reinsurance Company to launch in 2019

The Angolan National Reinsurance Company (AngoRe) will start operations in 2019, according to a local news report.

The launch which was expected for 2018 has been delayed as business plans and the shareholder composition are still being put together, the chairperson of the board of the Angolan Agency for Regulation and Supervision of Insurance (Arseg), Aguinaldo Jaime, reportedly said.

The company is expected to retain a large part of the risks assigned to the international reinsurance market and to play an important role in the Angolan and international market, according to Jaime.

Jaime made the remarks at the end of a meeting with British prime minister's trade special envoy for Angola and Zambia, Baroness Lindsay Northover, according to an ANGOP report.

Angola has a great deal of contact with companies in the UK, mainly in reinsurance matters, in the fields of petrochemical, aviation and marine insurance, Jaime reportedly said.