The Angola Insurance Authority (ARSEG) has revoked Global Seguros, S.A.’s authorisation to conduct insurance business, citing persistent non-compliance with financial guarantee, governance, information reporting and other operational requirements since 2019 and failure to fully implement recovery and financing plans. ARSEG reported continued deterioration in prudential indicators, with third quarter 2025 data showing a solvency margin of -521.1%, a guarantee fund of -752% and a technical provisions coverage ratio of 50.5%, meaning available assets covered only around half of assumed liabilities. The additional capital need exceeded AOA 8bn. Before adopting the revocation decision, the authority initiated administrative offence proceedings and provided the firm with the right to be heard, framing the action as aimed at preventing systemic risk and safeguarding confidence in the insurance market. ARSEG also stated that Global Seguros’ insurance portfolio will be transferred to other insurers to ensure continuity of contracts and protect the rights of policyholders, insured persons and third-party beneficiaries in accordance with the law.
Angola Insurance Authority (ARSEG) 2026-02-23
Angola Insurance Authority revokes Global Seguros authorisation after sustained prudential and governance breaches
The Angola Insurance Authority (ARSEG) revoked Global Seguros, S.A.'s authorization due to persistent non-compliance with financial and operational requirements since 2019. The firm's prudential indicators showed severe deterioration, including a solvency margin of -521.1% and a guarantee fund of -752%, with a capital need exceeding AOA 8bn. ARSEG will transfer Global Seguros' insurance portfolio to other insurers to maintain contract continuity and protect policyholders' rights.