Mauritius: Life insurance sector expanding fast
A new report from the Financial Services Commission (FSC) on the insurance sector in Mauritius has just been published.It highlights a good financial health, particularly in the life insurance sector.
This type of product generated premiums of around Rs 12 billion (€ 305.5 million) in 2010, compared with Rs 9.5 billion in 2009, which represents a 26 per cent growth, according to the report, the findings of which have been reported in L'Express de Maurice newspaper.
This field owned cumulative assets of Rs 75.3 billion in 2010 compared with Rs 65 billion a year earlier, which represents a 16 per cent growth.
With regards to general insurance, assets in this category increased by 11 per cent between 2009 and 2010, with the number of policyholders growing from 440,000 to 446,000.
All non-banking financial services in Mauritius are regulated by the FSC.
These include insurances, pensions, capital markets, leasing, financial credits and global business activities.
The organisation promotes the development, efficiency and transparency of non-banking financial institutions and capital markets while protecting investors, asserts Le Défi Quotidien newspaper.