The Mozambican government on Monday called for a strengthening of the national insurance market's capacity to respond to climate-related risks and to keep pace with growing investment in the country's strategic economic sectors.
The position was presented by Prime Minister Maria Benvinda Levi during the opening of the International Conference of the Organisation of Eastern and Southern Africa Insurers (OESAI), held in Maputo, where she underscored the need for Mozambique to develop a solid, professional, and innovative insurance sector.
According to the prime minister, the country's exposure to extreme weather events heightens the importance of risk protection and transfer mechanisms, particularly given the recurring impact of such events on households, businesses, and productive activities. 'Mozambique is exposed to cyclones, floods, and droughts, with severe impacts on communities, businesses, agriculture, infrastructure, and livelihoods,' she said.
Levi argued that the strengthening of the insurance market must also align with the country's existing investment opportunities, particularly in energy, natural resources, agriculture, transport, and infrastructure. The sustainable realisation of those investments, she explained, requires adequate risk management and transfer instruments capable of protecting deployed capital and reducing corporate exposure to unforeseen events.
In this context, Levi called for an insurance market that is 'solid, professional, innovative, and capable of responding to a transforming economy.' She also identified institutional strengthening and improved supervision as critical factors in building the confidence of citizens, businesses, and investors in the system.
She highlighted in particular the creation and consolidation of the Insurance and Pension Funds Supervisory Authority of Mozambique (ASFPM), noting that the institution has the potential to reinforce sector stability, protect consumers, and promote a more modern and resilient market.
The prime minister further advocated for greater integration of new technologies into insurance operations, including artificial intelligence and data science, to improve risk identification and assessment. According to Levi, these tools could also enable the development of products tailored to consumer needs, reduce operational costs, and make insurance services more efficient.
Beyond climate risks, the prime minister drew attention to the growing threat of cyber risks and to the need to develop financing mechanisms capable of responding to large-scale natural disasters.
In this regard, she stressed the importance of deepening cooperation among African countries, as well as among insurers, reinsurers, and regulatory bodies. 'No country can face these challenges alone. Regional cooperation is a necessity,' she declared. Levi called for greater sharing of experience, reinforcement of technical capacities, and closer engagement among market stakeholders, in a context where economic, technological, and climate risks are increasingly regional in dimension.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/08/17/economia/financas/governo-defende-mercado-segurador-mais-resiliente-perante-riscos-climaticos/
