- Angola’s expanding energy and downstream sectors require greater domestic insurance capacity, with specialised expertise, international reinsurance partnerships and co-insurance helping local insurers cover complex risks while retaining more premium and capital within the country.
- As investment grows in refineries, terminals, storage and other industrial infrastructure, integrated insurance covering property damage, business interruption, construction, liability and environmental risks can improve financial predictability and investor confidence.
- Angola’s economic diversification is broadening insurance demand beyond oil and gas, while digitalisation and ESG are becoming increasingly important to insurers developing products for sectors including manufacturing, logistics, agriculture and renewable energy.
How would you describe the strategic positioning of BIC Seguros, and what are some of the performance milestones achieved under your leadership?
BIC Seguros has steadily strengthened its position as one of the leading insurers in the Angolan market, supported by a strategy based on financial strength, innovation, customer proximity and operational excellence. In recent years, the company has achieved consistent growth in its business portfolio, strengthened its technical capabilities and made significant investments in modernising its processes and systems.
Among the key milestones achieved are the strengthening of corporate governance, the diversification of our product offering, continued investment in the digitalisation of services and the consolidation of our position in the business and corporate segments. These achievements reflect our ongoing commitment to creating value for customers, shareholders and the national economy.
Given the acceleration of upstream activity in Angola, what is BIC Seguros’ strategy for supporting the energy industry?
Energy is a strategic pillar of Angola’s economic development and the growth of the insurance market. BIC Seguros has been strengthening its technical expertise and establishing partnerships with internationally recognised reinsurers, enabling us to provide solutions that meet the demanding requirements of operators in this sector.
As coverage for these types of risks is subject to a mandatory co-insurance arrangement – in which BIC Seguros has participated almost since its inception – our strategy, like that of other market players, is to assume the largest possible share of the capital at risk and premium volume, thereby helping to limit the outflow of foreign currency from the country.
How do you assess the insurance coverage needs for large-scale industrial infrastructure in the oil and gas downstream?
The growth of infrastructure associated with downstream activities, including refineries, logistics terminals and storage facilities, requires increasingly sophisticated insurance solutions tailored to the complexity of the risks involved.
For risks that are not covered by the mandatory co-insurance scheme, BIC Seguros has been developing specialised products, including coverage for property damage, business interruption, third-party liability, construction and erection risks, as well as environmental liabilities. Our objective is to provide integrated insurance solutions that enable investors and operators to carry out their projects with greater security and financial predictability.
With Angola’s economy diversifying beyond oil, how is BIC Seguros adapting its product offering?
Economic diversification is a national priority, and the insurance sector plays a fundamental role in supporting this objective. BIC Seguros has been responding to this evolution by developing and adapting insurance solutions for sectors such as agriculture, fisheries, manufacturing, transportation, logistics, construction, tourism and renewable energy.
We believe that adequate business risk protection helps increase investor confidence and promotes more sustainable economic growth. For this reason, we strive to develop products that are aligned with the specific needs of each sector and with the realities of the Angolan market.
As a pioneering Angolan insurer in the integration of ESG criteria and digital innovation, how is BIC Seguros evolving its technological platform?
Digital transformation is a strategic priority for BIC Seguros. We have been investing in the modernisation of our technological infrastructure, process automation, and the development of digital channels that provide our customers with a simpler, faster, and more efficient experience.
At the same time, we have been incorporating ESG principles into our operations by strengthening our governance practices, social responsibility initiatives and environmental sustainability efforts. We are also developing insurance solutions that support our clients’ sustainability commitments, including companies operating in the energy and renewable energy sectors.
What is your vision for strengthening BIC Seguros’ position as a partner for energy and infrastructure companies in Angola?
Our vision is to establish BIC Seguros as the strategic partner of choice for major investment projects in Angola. To achieve this, we will continue investing in technical expertise, innovation, digital transformation and the continuous development of our people.
We believe that a robust insurance sector is essential to strengthening the national financial system and attracting private investment. BIC Seguros intends to continue playing an active role in this process by contributing to economic stability, investment protection, and Angola’s sustainable development.
The future of Angola’s energy and infrastructure sectors presents significant opportunities, and we are fully prepared to support this transformation by offering modern, competitive insurance solutions aligned with international best practices.