| Life premium volume (USD) | 19 mn |
|---|---|
| Non-life premium volume (USD) | 97 mn |
| Total premium volume | 116 mn |
| Total premium volume (MZN) | 4 bn |
| Insurance penetration: Premiums in % of GDP | 1.05% |
| Insurance density: Premium / capita USD | 4.94 |
| Local currency | MZN |
| Domestic life insurers | 4 |
|---|---|
| Domestic non-life insurers | 15 |
| Domestic composite insurers | 4 |
| Foreign life insurers | 0 |
| Foreign non-life insurers | 0 |
| Foreign composite insurers | 0 |
| Domestic reinsurers | 0 |
| Foreign reinsurers | 1 |
| State-owned insurers | 1 |
| State-owned reinsurers | 0 |
| Insurance intermediaries | 16 |
| Reinsurance intermediaries | 2 |
| Overarching principle in insurance supervision | Financial supervision |
|---|---|
| Requirement for minimum insurance rates | No |
| Cross-border insurance allowed | Yes |
| Bancassurance is allowed | No |
|---|---|
| Allowed ownership structures | Stock Companies, Mutuals |
| Foreign ownership restrictions | No |
| Minimum capital requirement | MZN97,000,000 (Non-Life) MZN196,000,000 (Life) |
| Minimum paid-up share capital | 0 |
| Requirement for independent audits | Yes |
| Requirement to appoint actuaries | No |
| Premium rate approval needed | Yes |
| Solvency referred to as the difference between assets and liabilities | Yes |
|---|---|
| RBC (Risk-based capital) principles applied | Yes |
| Ceded reinsurance is regarded as a permissible asset | Yes |
| Compulsory insurance lines | Motor TPL, WCA |
| Compulsory reinsurance cessions | No |
| Established guarantee or policyholder protection fund | No |
|---|
