Angola: Co-insurance Legal Regime

Angola has introduced a mandatory co-insurance framework for strategic economic sectors to protect national interests and retain risk within the local insurance market. Presidential Decree 133/26, of 6 August 2026, establishes the organizational and operational rules for these special regimes.

Key Takeaways

• Local Retention: The law aims to reduce the transfer of reinsurance premiums to foreign markets.
• Mandatory Application: Co-insurance is now strictly required for all insurable risks in oil, mining, and aviation.
• Capital Thresholds: Infrastructure sectors face mandatory co-insurance only for large risks exceeding USD 20 million.
• Single Policy Rule: Each co-insurance pool must operate under a single policy issued by a designated Leader.

Scope of the Special Regimes

The law applies to two distinct categories of activities and assets:

1. Mandatory Sectors (All Risk Levels)

Co-insurance is required for all insurable risks in the following fields:

• • Petroleum activities
  • Mining activities
  • Civil aviation aircraft

2. Large-Scale Public Infrastructure & Specialized Lines

Risks must enter the co-insurance regime if the insured capital equals or exceeds USD 20,000,000.00:

• • Public telecommunications infrastructure
  • Public transport infrastructure
  • Public energy and water infrastructure
  • Specialized lines including engineering, marine hull, industrial multi-risk, construction, and fire/natural elements.

The Role of the Leader

Each co-insurance agreement is managed by one Leader (Seguradora Líder).

Eligibility Requirements

To qualify as a Leader, an insurer must:

• Have at least 2 years of active participation in special co-insurance.
• Maintain a solvency margin of 140% or higher for 3 consecutive years.
• Prove technical and financial capacity for large risks.

Primary Functions

The Leader acts on behalf of the co-insurance pool to:

• Issue the single policy and collect all premiums.
• Negotiate and place reinsurance in international markets.
• Settle insurance claims.

Operational Rules

Pool Membership

Any insurer authorized in Angola can join a co-insurance pool if they have operated in the non-life sector for at least 1 year, meet all financial solvency ratios, and maintain clean tax records.

No Joint Liability

Co-insurers are only liable to the insured party for their individual, specified percentage of the risk. There is no joint and several liability among pool members.

Policy Renewals

Policy renewals must be planned well in advance to match international reinsurance timelines. New proposals must be submitted to the Leader at least 5 months before expiration.

Reinsurance Broking

The Leader must place reinsurance through local or foreign brokers, selecting proposals that offer the best cost-benefit ratio and security.

Confidentiality

Pool members must maintain strict confidentiality regarding contract terms and business documents for a minimum of 5 years.

Sanctions and Compliance

The Insurance Supervisory Body (Organismo de Supervisão da Actividade Seguradora) is responsible for enforcing compliance and handling infractions.

Violations are classified as very serious infractions and carry heavy fines. Punishable offenses include:

• Failing to subscribe to mandatory co-insurance.
• Unjustified or abusive refusal to accept a risk.
• Leaving a co-insurance pool without giving the required notice.
• Breaching the 5-year confidentiality duty.

Transitional Provisions

Insurers holding active policies that meet the USD 20 million threshold must transfer those policies into the new Special Co-Insurance Regime during their next renewal period.