Country Dashboards

1 mn
US$11 bn
Inflation rate

Insurance Premiums

Total Premiums
Insurance market data
Life premium volume (USD) 389 mn
Non-life premium volume (USD) 181 mn
Total premium volume 570 mn
Total premium volume (MUR) 18 bn
Insurance penetration: Premiums in % of GDP 5.70%
Insurance density: Premium / capita USD 456
Local currency MUR
Market Composition
Domestic life insurers 8
Domestic non-life insurers 15
Domestic composite insurers 0
Foreign life insurers 0
Foreign non-life insurers 0
Foreign composite insurers 0
Domestic reinsurers 0
Foreign reinsurers 5
State-owned insurers 2
State-owned reinsurers 0
Insurance intermediaries 40
Reinsurance intermediaries 76
Insurance Regulatory Authority
Financial Services Commission FSC House 54 Cybercity Ebene, Mauritius

Regulatory Provisions

Scope of insurance regulation and supervision
Overarching principle in insurance supervision Financial supervision
Requirement for minimum insurance rates No
Cross-border insurance allowed No
Bancassurance is allowed No
Allowed ownership structures Translation missing: en.country_dashboard.allowed_ownership_structures_values.0
Foreign ownership restrictions No
Minimum capital requirement 25,000,000 MUR
Minimum paid-up share capital 0
Requirement for independent audits Yes
Requirement to appoint actuaries Yes
Premium rate approval needed No
On-Going Supervision
Solvency referred to as the difference between assets and liabilities Yes
RBC (Risk-based capital) principles applied Yes
Ceded reinsurance is regarded as a permissible asset Yes
Compulsory insurance lines Motor-third party liability Workmen’s compensation Liability (pleasure craft third-party liability passenger liability for pleasure craft owners, professional indemnity for brokers, marine oil pollution insurance, clinical trials liability)
Compulsory reinsurance cessions Yes
Insurance companies in difficulties
Established guarantee or policyholder protection fund Yes
The Africa Re office that supports this location is: