Mozambique: President inaugurates Niassa cement plant - photos
Mozambique: Insurance company Emose sees profits soar to €5 million in 2024
12:37 CAT | 11 Jun 2025
File photo: Emose
Emose had already recorded profits of €595,000 in 2023, reversing losses of more than €16.3 million in 2021 and €719,000 in 2022.
The profits of the Mozambican Insurance Company (Emose), the largest in the country, soared in 2024 to 368.1 million meticais (€5 million), the state-owned insurer announced this Tuesday.
“The actions implemented throughout 2024, with emphasis on careful prudential management, good risk selection, reduction of operational costs, computerization of processes, among others, allowed the consolidation of the company’s financial ratios,” Emose declares in a statement.
Emose had already recorded profits of 43.4 million meticais (€595,000) in 2023, reversing losses of more than 1,193 million meticais (€16.3 million) in 2021 and 52.5 million meticais (€719,000) in 2022, according to the previous report and accounts.
Emose’s chairman of the board Janfar Abdula is quoted in the statement as saying that the results for 2024 are “comforting and promising in view of the objectives defined” by the insurer.
“According to the report by the Insurance Supervision Institute of Mozambique (ISSM), in 2023, Emose led the national insurance market,” the company also states.
The Mozambican state holds a 39% stake directly in the share capital of Emose, and another 31% through the State Holdings Management Institute (IGEPE). Other shareholders include the Cooperative of Technical Managers and Workers of Emose, with a 20% stake, and a further 10% dispersed on the stock exchange.
The Mozambican insurance market has 19 authorised companies, with Emose leading for over 40 years.
Emose was created two years after national independence through the nationalisation and merger of the insurance companies Lusitânia, Tranquilidade de Moçambique and Nauticus.
Source: Lusa
Show comments
Also read
Leave a Reply
Be the First to Comment!
You must be logged in to post a comment.
You must be logged in to post a comment.