New Law On Insurance Mediation And Brokerage

In order to adapt it to the current state of the insurance market, the Insurance Mediation and Brokerage Law was now published.

More than two decades have passed since the approval of the first law regulating these matters. As a result, it has been necessary to redefine the legislation applicable to insurance mediation and brokerage in Angola in order to adapt it to the current state of the insurance market. This need resulted in the recent publication of Law 6/24 of 3 June - the Insurance Mediation and Brokerage Law ("LMCS"). The LMCS repeals Executive Decree 7/03 of 24 January and Executive Decree 465/16 of 1 December.

The new rules apply to the following entities:

• Natural and legal persons authorised to access and conduct insurance and reinsurance intermediation and brokering activities in Angola;