Fewer than 6% of active companies in Angola have Mandatory Occupational Accident and Occupational Disease Insurance, leaving thousands of workers without the protection already required by law.
The figures were revealed this week in Luanda by Filomena Manjata, Chairwoman of the Board of the Angolan Insurance and Pension Funds Supervisory Authority (ARSEG), during the opening of the 3rd ARSEG Conecta Conference.
“This means that thousands of workers remain exposed to risks for which the law already provides protection mechanisms. More than a case of legal non-compliance, this represents a real limitation of social protection and an additional source of economic vulnerability for countless families,” she said.
The situation is no better in the automotive sector. Although Angola’s national vehicle fleet exceeds two million vehicles, only around 366,000—less than 20%—have valid Mandatory Motor Third-Party Liability Insurance. In practice, eight out of every ten vehicles on Angolan roads are operating without the legally required insurance coverage.
The figures become even more concerning when compared with road accident statistics. Between 2010 and 2024, Angola recorded more than 145,000 road traffic accidents, resulting in approximately 34,000 deaths and more than 163,000 injuries.
“Behind these figures are lives lost, families deeply affected, interrupted life projects, and significant economic and social costs that could be substantially reduced through broader coverage of mandatory insurance,” Manjata emphasized.
The head of ARSEG acknowledged that these figures represent not only statistics but also an opportunity to strengthen the culture of compliance, promote financial and insurance literacy, and build a more inclusive insurance market.
“The true effectiveness of the law is measured by its implementation, by its ability to transform legal requirements into behavior, and by ensuring that every institution fully assumes the responsibilities assigned to it,” she said.
According to Manjata, mandatory insurance goes beyond a commercial function and serves as a tool for social protection, justice, and economic stability. When properly implemented, it protects workers and their families, strengthens businesses, and reduces the burden on the State by ensuring that risks are transferred through the legal mechanisms established for that purpose.
“The full potential of these instruments has yet to be realized in Angola,” she concluded.
The conference, held under the theme “Mandatory Insurance in Angola: From Regulation to Supervision – The Institutional Role and Accountability of Stakeholders,” brought together representatives from the insurance industry and regulatory authorities.
Source: Mercado
