Luanda: The Secretary of State for the Budget, Juciene de Sousa, pointed out on Monday in Luanda the need to consistently generate confidence in the insurance market, to increase the contribution of insurance activity to the country's economy, currently estimated at less than 1% of GDP. Speaking at the 2nd Conference of the 2026 Conference Cycle 'ARSEG Connects', she stressed the importance of ensuring positive experiences and ensuring that each interaction reinforces the credibility of the insurance system.
According to Angola Press News Agency, the Secretary of State highlighted the strengthening of the legal framework, with Law No. 18/22 and subsequent regulations, which consolidated essential pillars at the level of governance, transparency, and consumer protection. She explained that while regulation creates conditions, it 'does not create behaviors'. Juciene de Sousa emphasized that effective transformation requires institutional commitment, a customer-oriented organizational culture, and continuous investment in financial literacy.
The director mentioned that the available data reinforces this need, with a significant portion of consumers still "not fully understanding the products they purchase." She noted that the use of formal complaint channels remains limited, suggesting underreporting, and challenges persist regarding the clarity and accessibility of information.
She pointed out that the fact that insurance density is still low, less than $50 per capita/year, reveals itself primarily as a potential. "If the goal is to grow, it's important to be clear: market conduct is not a regulatory detail, it's a condition for growth. This dimension becomes even more critical in a context where we seek to expand family protection, promote long-term savings, and strengthen the resilience of our economy," she emphasized.
The 2nd Conference of the 'ARSEG Connects' cycle, under the theme 'Market Conduct: the pillar of trust and transparency in the insurance and pension fund sector', was promoted by the Angolan Agency for Regulation and Supervision of Insurance. The initiative is part of a cycle of conferences promoted by ARSEG, aimed at strengthening good market practices, protecting consumers, and strengthening trust in the financial system, while simultaneously constituting a space for technical debate and knowledge sharing among institutional leaders, experts, and other stakeholders in the sector.