The Insurance Supervision Institute of Mozambique (ISSM) announced the swearing-in of António Isaac Jeco Chiau and Mércio Filipe Sitoe as new members of its Board of Directors, appointed as executive administrators under Article 6(4) of Decree No. 53/2019. At the inauguration ceremony, Mozambique’s Minister of Economy and Finance, Adriano Maleiane, framed priorities for the mandate around maintaining insurance market growth during the COVID-19 period, addressing challenges in microinsurance linked to the informal sector, and potentially revisiting legislation to better stimulate the sector. He also called for greater use of co-insurance to limit foreign currency outflows associated with reinsurance and for stronger insurance financial literacy efforts, including demystifying life insurance. ISSM Board Chair Otília Santos subsequently presented the new administrators to staff and oversaw a handover from outgoing executives, while the appointees committed to drawing on their private-sector insurance and banking experience.
Insurance Supervision Institute of Mozambique 2025-04-29
Insurance Supervision Institute of Mozambique installs António Chiau and Mércio Sitoe as executive administrators following public recruitment
The Insurance Supervision Institute of Mozambique appointed António Isaac Jeco Chiau and Mércio Filipe Sitoe as new executive administrators. Mozambique’s Minister of Economy and Finance, Adriano Maleiane, emphasized priorities such as sustaining insurance market growth, enhancing microinsurance, and revisiting legislation. He also advocated for increased co-insurance use and improved insurance financial literacy.