Angola - New Law on Insurance and Reinsurance Activity

In brief

It was published the Law no. 18/22, of 7 July, which approved the Law on Insurance and Reinsurance Activity and revoked the previous Law on Insurance Activity approved by Law no. 1/00, of 3 February, as well as Decree no. 7/02, of 9 April and Executive Decree no. 6/03, of 24 January. The Law regulates, among others, the conditions for accessing and exercising the activity and the authorization process.

The Law is applicable to insurance and reinsurance companies based in Angola, branches of insurance and reinsurance companies based abroad that carry out activities in Angola, branches of insurance and reinsurance companies based in Angola that carry out activities abroad, holding companies in the insurance sector and micro-credit companies.

The Law entered into force on the date of its publication.

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