Insurance Market in Angola: Global Trends, Industry Analysis
Angola is the fifth-largest economy in Africa and is one of the fastest-growing economies globally, with an annual GDP growth averaging 11.6% during 2002–2011. according to IMF. The Angolan economy is highly dependent on the oil sector, which in 2012 accounted for 46.0% of GDP and 96.0% of exports. The country is the second largest oil producer in Africa after Nigeria. Led by stable economic growth and a progressive regulatory environment, the Angolan insurance industry (which is the sixth-largest in Africa, in terms of gross written premium) witnessed a strong growth during the review period (2009–2013).
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