Mozambique Insurance Industry – Key Trends and Opportunities to 2028

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Mozambique Insurance Market Report Overview

The gross written premium of the Mozambique insurance market was MZN24.2 billion ($377.6 million) in 2023. The market is expected to achieve a CAGR of more than 9% during 2024-2028. The Mozambique insurance market research report provides in-depth market analysis, information, and insights into the Mozambique insurance industry. It provides values for key performance indicators such as gross written premium, penetration, premium accepted and ceded, profitability ratios, and premium by line of business, during the review period and forecast period.

Mozambique Insurance Market Outlook, 2023-2028 (MZN Billion)

Mozambique Insurance Market Outlook, 2023-2028 (MZN Billion)

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The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Mozambique economy and demographics, and provides detailed information on the competitive landscape in the country. The report gives insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Market Size (2023) MZN24.2 billion ($377.6 million) (GWP)
CAGR (2024-2028) >9%
Forecast Period 2024-2028
Historical Period 2019-2023
Key Segments ·        Life Insurance

·        General Insurance

Leading Players ·        Hollard Mozambique Insurance

·        Empresa Mocambique

·        Fidelidade Companhia

·        Fidelidade Vida

·        Sanlam Mozambique Life

·        BRITAM Insurance

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Mozambique Insurance Market Trends

A few of the recent trends that will influence the Mozambique insurance market in the coming years are increasing digitalization and growth in the popularity of agricultural insurance as well as parametric insurance.

For instance, in September 2023, the ISSM partnered with Banco de Mozambique (the country’s central bank) to adopt the Bank Supervision Application, a web-based platform that will enhance supervision of the insurance sector. Furthermore, during the same time, OKO (an Israeli company that designs technology-based insurance products) launched a weather index insurance product in Mozambique. The cover utilizes data sensors and satellite images that provide real-time information on rainfall levels. The product compensates farmers in the case of adverse weather events such as drought and flooding, with funds paid directly to their mobile accounts. OKO also offers yield-based index insurance.

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Mozambique Insurance Market by Segments

General insurance led the Mozambique insurance market in 2023

The key segments in the Mozambique insurance market are life insurance and general insurance. In 2023, the general insurance sector accounted for more than 78% share of the total Mozambique insurance industry’s GWP. The general insurance personal accident and health (PA&H) line of business held the dominant share in the Mozambique general insurance market in 2023.

Mozambique Insurance Market Analysis by Segments, 2023 (%)

Mozambique Insurance Market Analysis by Segments, 2023 (%)

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Mozambique Insurance Market – Competitive Landscape

Hollard Mozambique led the Mozambique insurance market in 2022

The key companies in the Mozambique insurance market are:

  • Hollard Mozambique
  • Empresa Mocambique
  • Fidelidade Companhia
  • Fidelidade Vida
  • Sanlam Mozambique Life
  • BRITAM Insurance

Mozambique Insurance Market Analysis by Players, 2022 (%)

Mozambique Insurance Market Analysis by Players, 2022 (%)

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Segments Covered in the Report

Mozambique Insurance Market Segments Outlook (Value, MZN Billion, 2019-2028)

  • Life Insurance
  • General Insurance


This report provides a comprehensive analysis of the Mozambique insurance industry:

  • It provides historical values for the Mozambique insurance industry for the report’s review period and projected figures for the forecast period.
  • It offers a detailed analysis of the key categories in the Mozambique insurance industry and market forecasts for
  • It profiles the top life insurance companies in Mozambique and outlines the key regulations affecting them.

Key Highlights

  • Key insights and dynamics of the Mozambique insurance industry.
  • A comprehensive overview of the Mozambique economy, government initiatives, and investment opportunities.
  • The Mozambique insurance regulatory framework’s evolution, key facts, taxation regime, licensing, and capital requirements.
  • The Mozambique insurance industry’s market structure gives details of lines of business.
  • Mozambique’s reinsurance business’s market structure gives details of premium ceded along with cession rates.

Reasons to Buy

  • Make strategic business decisions using in-depth historical and forecast market data related to the Mozambique insurance industry, and each category within it.
  • Understand the demand-side dynamics, key market trends, and growth opportunities in the Mozambique insurance industry.
  • Assess the competitive dynamics in the Mozambique insurance industry.
  • Identify growth opportunities and market dynamics in key product categories.

Hollard Mozambique Insurance
Empresa Mocambique
Fidelidade Companhia
Global Alliance
Mediplus Insurance
Sanlam Mozambique Life
Mocambique Companhia de Seguros
Indico Seguros

Table of Contents

Executive Summary

Economy Overview

Regulation and Compliance

Key Market Trends

Life Insurance: Trends and KPIs

Life Insurance: LOB

General Insurance: Trends and KPIs

General Insurance: LOB

Competitive Landscape



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