Cape Verde

Axco provides details on the life insurance sector including Cape Verde market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.

The report describes the public and private healthcare system in Cape Verde, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.

Axco reports on the three pillars of Cape Verde pension provision.

• State pension benefits including benefit calculations and eligibility criteria 
• Workplace pension provision; types of schemes calculations eligibility and; tax implications
• Voluntary individual pension provision, type of products and tax implications

The Cape Verde report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

• state pensions,
• permanent disability benefit
• occupational accident and disease
• maternity and paternity payments 

The economy of Cape Verde is vulnerable to the effects of droughts and little arable land although it has become more politically stable in recent years, experiencing a boom in tourism. The market is small and stable, born out of Portuguese colonial times although the life component is very modest against the premium income for non-life lines. Life insurance accounts for some 8.95% of the entire insurance sector with penetration at some 0.13%.

It should be noted that PA and healthcare business is classed ....

The market for private pensions remains undeveloped. Despite some legislation over the years demand has never reached a point where the state or putative providers have been moved to take meaningful action.

There are two social security systems in Cape Verde, one contributory for employees and the self-employed, the other non-contributory. The non-contributory system is social assistance covering ....

Healthcare in Cape Verde is provided both by the public and private sectors. The public service embraces the 60% of the population covered by INPS; the poorest members of society pay the minimal charges required for basic attention. Free medical attention is provided only for mothers, children and the chronically ill whilst reduced prices apply to the poor.

There is also a private healthcare sector operating totally independently from the public ....