The Insurance Supervision Institute of Mozambique has released its Annual Report on Insurance Activity for 2019, summarising life and non-life market developments and consumer protection outcomes. The report records 21.2% growth in the sector after 1% in 2018, with insurance penetration rising by 0.19 percentage points to 1.67%, and it expands the statistical disclosures used to track underwriting activity and claims. Gross written premiums grew in both segments, with life up 27.5% and non-life up 20.3%. Net profit for the year reached MZN 1,575.7 million, an increase of MZN 95.8 million from the prior year, while solvency margin coverage rose to 484.3% from 410.5% in 2018. The report also covers complementary pension funds, where contributions totalled MZN 885.1 million (up 8.9%) and fund financial performance reached MZN 1,397.1 million (up 10.1%). On consumer servicing, the supervisor received 39 complaints, resolving 15 through its intervention; six were under analysis by insurers, 10 were recommended for submission to the courts, and eight remained under review by the supervisor.
Insurance Supervision Institute of Mozambique 2025-04-29
Insurance Supervision Institute of Mozambique publishes 2019 annual insurance market report showing 21.2% growth and higher solvency coverage
The Insurance Supervision Institute of Mozambique's 2019 Annual Report highlights a 21.2% sector growth, with insurance penetration at 1.67%. Gross written premiums rose in life (27.5%) and non-life (20.3%) segments, while net profit reached MZN 1,575.7 million. The report notes improvements in solvency margin coverage, complementary pension fund performance, and consumer protection efforts addressing 39 complaints.