Alexandre Carreira, CEO of NOSSA Seguros, talks to The Energy Year about the growth of its specialised oil and gas insurance portfolio and its strategy for supporting Angola’s expanding energy and mining frontiers.
NOSSA Seguros is an Angolan insurer providing corporate and retail insurance, risk management and pension solutions.
- Angola’s co-insurance framework is strengthening domestic participation in complex energy and mining risks, while local insurers combine greater risk-retention capacity with international reinsurance expertise.
- NOSSA Seguros is expanding specialised coverage and technical capabilities to support oil and gas, mining and infrastructure projects, using its nationwide reach and local market knowledge to serve increasingly complex risks.
- The company is investing in automation, data management and AI while positioning itself beyond traditional risk transfer as a long-term technical partner for energy and infrastructure clients.
What are the most salient trends in the evolution of NOSSA Seguros’ energy industry insurance portfolio?
Angola’s oil and gas sector operates under a special insurance regime whereby risks are shared across the domestic insurance market through a statutory co-insurance framework. This model ensures that risks of strategic importance to the national economy are distributed among local insurers, contributing to premium retention within the country, strengthening domestic technical capacity and supporting the sustainable development of Angola’s insurance market.
Within this framework, NOSSA Seguros’ upstream portfolio has recorded consistent and significant growth. Over the past year, our portfolio has evolved beyond traditional insurance lines to technical and specialised risk coverage associated with oil and gas exploration and production. This includes offshore and onshore construction and erection risks, third-party liability insurance for oil and gas operations, war risks and political risks associated with oil and gas operations, insurance for oilfield equipment and critical operational assets, as well as marine insurance.
How is the company extending its reach into the new geographies where Angola’s energy and mining activity is growing?
The expansion of Angola’s energy and mining activities into new regions of the country represents an opportunity for NOSSA Seguros. Our strategy is to combine the proximity provided by our network and our partnership with Banco BAI with increasing technical specialisation, supporting clients throughout the entire lifecycle of their projects and delivering insurance solutions tailored to the complexity of the risks associated with the energy and mining sectors.
At the same time, we have been strengthening our underwriting capabilities, engineering risk assessment expertise and the management of global insurance programmes, enabling us to respond effectively to the centralised insurance placement decisions of international operators, while working closely with the reinsurance market and ensuring full compliance with Angola’s regulatory framework.
Our participation in these sectors remains subject to Angola’s applicable co-insurance requirements, reflecting the collective capacity of the domestic insurance market to underwrite large and complex risks.
We believe that the combination of nationwide reach, technical expertise, innovation and an in-depth understanding of the Angolan market will enable NOSSA Seguros to support the development of the country’s new energy frontiers, particularly in the Benguela and Namibe basins, as well as the continued expansion of mining activities across different regions of Angola, reinforcing our position as a trusted partner for both domestic and international companies.
What specific products and coverage are you designing for mining operators?
NOSSA already offers solutions for the activities that do not fall under compulsory co-insurance requirements in the mining sector, such as health insurance, life, pension fund management and property insurance.
NOSSA’s capabilities to retain risk in some of these lines of business enable the sustainable growth of the mining sector, given its complexities and insurance needs that are usually not accommodated by the international markets at reasonable costs to our emerging sector.
Our reliance on partnerships with international players with strong expertise in mining helps to bridge the gap between the required knowledge and expertise. This is what allows us to add value with world-class solutions tailored to the current local needs, through continuous engagement and training of our people.
Could you discuss how technology is changing the way NOSSA Seguros serves energy sector clients?
Over the past year, NOSSA Seguros has accelerated its digital transformation agenda, with a focus on enhancing customer experience, improving operational efficiency and expanding access to insurance services.
Among the key milestones reached, NOSSA Seguros has strengthened its digital channels with a modern web and mobile architecture, providing customers with a more seamless and accessible experience. The company has also increased the automation of core insurance processes, including policy administration, claims handling and payment processes, thereby improving efficiency, transparency and service quality.
In parallel, NOSSA Seguros has been expanding its data management capabilities and laying the foundations for the progressive adoption of Artificial Intelligence across key business areas, including underwriting, claims management and customer service.
Digital capabilities for corporate clients have been enhanced through greater process integration, improved information management and data-driven decision-making. At the same time, the company has been expanding insurance accessibility through strategic partnerships, bancassurance and digital distribution initiatives.
Looking ahead, our ambition is to become a fully data-driven and customer-centric insurer, leveraging digital technologies, automation and AI to deliver simpler, faster and more personalised services, while supporting the sustainable development of Angola’s insurance market.
What is your vision for the next chapter in the company’s growth story?
Our vision for this cycle is to consolidate NOSSA Seguros as a more specialised, innovative and customer-focused insurer, with the capacity to support Angola’s economic transformation and diversification.
In the corporate segment, particularly in energy and infrastructure, one of the strategic priorities of this cycle is to deepen sector specialisation. These are sectors with complex risks, long-term investments and high technical requirements, where the role of the insurer must go beyond traditional risk transfer.
NOSSA’s ambition is to strengthen its position as a technical partner for companies operating in these sectors, combining knowledge of the Angolan market, underwriting capability, articulation with national reinsurance capacity and access to international reinsurance markets when the scale or complexity of the risks so requires.
Source: theenergyyear.com