Angola shifts energy insurance ‘between monopolies’
Angolan President José Eduardo dos Santos. He is aiming to reform his country’s energy insurance system. (PA)
Oil and gas operators had hoped disbanding state-owned energy insurer AAA in March would open up competition in Angola’s lucrative energy insurance market.
But the temporary appointment of state-owned Empresa Nacional de Seguros e Resseguros de Angola (ENSA) as the leader of the coinsurance scheme for petroleum activities, and the exclusive reinsurance contract it has signed with global insurance broker Marsh, suggests any liberalisation for the market could be a long way off.