The president of the Mozambique Insurance Supervision Institute (ISSM), Esther José, on Thursday (18) in Maputo, called for agricultural and parametric insurance to occupy a prominent place on the national political agenda, given the increasing impact of climate change, according to Lusa.
“In 2025, a new systemic risk emerges: climate change. For Mozambique, this is a matter of extreme urgency, and the need for parametric and agricultural insurance is shifting from an academic discussion to a political priority,” she said at the opening of the 29th Annual Conference of the Association of Supervisors of Lusophone Insurance (ASEL).
The conference, which runs until Tuesday, brings together eight Lusophone jurisdictions and Macau to discuss regulation, technology, and emerging risks in the insurance sector. Esther José also emphasized that digitalization and artificial intelligence are reshaping risk and claims management, creating the need for new, accessible products adapted to consumer realities.
She further highlighted the importance of the insurance sector in supporting ongoing megaprojects in the country, such as those related to natural gas, advocating for greater involvement of national insurers.
Esther José recently assumed the rotating presidency of ASEL for a one-year term. During the event, a cooperation protocol was signed between ISSM and the Angolan Insurance Regulation and Supervision Agency (ARSEG), which provides for joint training of staff, technical exchange, and development of mutual assistance mechanisms. According to José, Mozambique and Angola face common challenges in expanding insurance and pension penetration, and strengthening cooperation should help increase local participation in the risk management of large projects, while also promoting social inclusion and economic resilience.
The ISSM’s call comes just days after the government approved the 2025-34 National Climate Finance Strategy, which foresees investments of 2.3 trillion meticais (37.2 billion dollars) by 2030 to strengthen the climate resilience of the country’s human, physical, and natural capital.
According to the spokesperson of the Council of Ministers, Inocêncio Impissa, the strategy will require mobilizing internal and external resources, as well as strengthening public and private institutions to create effective sustainable financing mechanisms.
The convergence of these two movements—on one hand, the political urgency to implement agricultural and parametric insurance, and on the other, the launch of the national climate finance strategy—reinforces the centrality of climate change in Mozambique’s economic debate and highlights the role of the insurance sector as an essential tool for mitigation and adaptation.
Source: Diário Económico
