The Angola Insurance Authority (ARSEG) issued a communiqué cancelling, by operation of law, the licences and registrations of insurance intermediaries identified as inactive, as set out in an annexed list. The action is framed under Law No. 6/24 on Insurance Mediation and Brokerage, which sets reporting and communication duties for insurance mediation companies and provides for cancellation of an insurance or reinsurance intermediary’s registration where the supervisor cannot contact the intermediary electronically or by post for more than 90 days, or where there has been no activity for more than six months. ARSEG noted that cancellation triggers the automatic transfer of rights and obligations under contracts in which the intermediary was involved to the relevant insurance companies, which must notify policyholders within 10 business days and inform them of their right to choose and appoint a new intermediary under the law.
Angola Insurance Authority (ARSEG) 2025-07-22
Angola Insurance Authority cancels licences and registrations of inactive insurance intermediaries and sets policyholder notification duties
The Angola Insurance Authority (ARSEG) has cancelled the licences of inactive insurance intermediaries under Law No. 6/24 on Insurance Mediation and Brokerage. This law mandates cancellation if intermediaries are unreachable for over 90 days or inactive for more than six months. The cancellation results in the automatic transfer of contract rights and obligations to insurance companies, which must notify policyholders and inform them of their right to appoint a new intermediary.