ARSEG ‘drops’ Bonws Seguros with withdrawal of license and orders managers to return company assets.

The institution was punished for not having complied, on time, with the business recovery plan. The supervisory authority therefore wants the liquidation committee to collect sensitive company information held by former managers.

After four years of 'fighting' with a business recovery plan, Bonws Seguros recently saw its operating license revoked by the Insurance Regulation and Supervision Agency (ARSEG), a measure that removes the company from the Angolan market insurance, according to a statement that Kieto Economia had access to.

Justifying the supervisory authority's measure is the fact that the company was, for four years, stuck with a recovery plan that did not result in improvements in the company. Therefore, and given the company's current situation, ARSEG was also forced to move forward, for now, with a liquidation (extinction) plan for that company, which, before reaching this situation, experienced moments of financial hardship.

“The Angolan Insurance Regulation and Supervision Agency (ARSEG) informs the general public that, taking into account the revocation of the authorization to carry out the insurance activity of Bonws Seguros, S.A., through Order No. 105/ARSEG/ 2024, of June 21, appointed the Liquidation Committee to carry out the dissolution and liquidation process of the aforementioned company”, reads the document.

For the liquidation commission, ARSEG appointed Alcides Mauro Gaspar Santareno, coordinator; Orlando Tchitoma Martins Lumingo, member; and Juzimedi João Gomes Sachimbali, member.

The supervisory authority also requires that Bonws Seguros, S.A., must immediately deliver to the Liquidation Committee the provisional list of creditors, in alphabetical order, indicating the amounts, due date, nature and guarantees they benefit from; the list and identification of pending actions and executions to which it is a party, in addition to an indication of the activities it has undertaken in the last 3 (three) years.

The previous managers of Bonws Seguros must also send to the liquidation committee the list of assets they hold under lease, rental or financial leasing or sale with retention of title; accounting documents relating to the last 3 (three) years, including, where appropriate, consolidated accounts relating to the same period, a list of people that Bonws Seguros, S.A. has at its service and detailed information on the client portfolio and other information that the Liquidation Committee may request as part of the process.