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  4. > Mauritius Insurance Report Q3 2016

Mauritius Insurance Report Q3 2016

  • June 2016
  • -
  • Business Monitor International
  • -
  • 45 pages

Includes 3 FREE quarterly updates

BMI View: Mauritius is home to a very well-developed insurance market. Life insurance plays a centralrole in organised savings and benefits from the maturity of the Mauritian financial market. We expect to seecontinued growth in life insurance premiums written, based primarily upon wider economic growth as mosthouseholds already benefit from some level of coverage so the new potential consumer market is small. Thenon-life market is also expected to grow, particularly leading health and motor insurance lines. Bothsectors will benefit from the expansion of the available product range and overall we hold a highly positiveview for the Mauritian insurance industry.

Key Updates And Forecasts

- Mauritius is embarking on a number of ambitious infrastructure projects, including the development ofeight 'smart cities', which will stimulate growth in the non-life insurance sector, though as a maturemarket domestic insurers may be more focused upon opportunities in overseas markets.

- We continue to forecast healthy growth in the Mauritian life insurance segment, with premiums forecastto grow by 6.5% in local currency terms in 2016 to reach MUR18.7bn. Further growth over theremainder of the forecast period will lead to premiums of MUR23.4bn with a concurrent increase indensity (premiums per capita).

- The non-life sector is less than half the size of the life market but will record slightly stronger growthover the course of the forecast period, with non-life premiums forecast to increase from MUR8.3bn in2016 to MUR11.5bn in 2020.

Table Of Contents

Mauritius Insurance Report Q3 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Mauritius 2013-2020) 5
Insurance 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Mauritius 2013-2020) 10
Table: Life Insurance Claims (Mauritius 2008-2013) 11
Non-Life Premiums Forecast 11
Table: Non-Life Premiums (Mauritius 2013-2020) 14
Table: Non-Life Insurance Claims (Mauritius 2009-2013) 16
Non-Life Sub-Sector Forecast 16
Table: Non-Life Insurance Premiums by Product Line (Mauritius 2013-2020) 23
Insurance Risk/Reward Index 24
Sub-Saharan Africa Risk/Reward Index 24
Table: Sub-Saharan Africa Insurance Risk/Reward Index - Q316 24
Market Overview 26
Life Market Overview 26
The Product Offering 26
The Competitive Landscape 26
Table: Life Insurance Market, 2009-2013 (USDmn) 28
Non-Life Market Overview 29
The Product Offering 29
The Competitive Landscape 29
Table: Non-Life Insurance Market, 2009-2013 (USDmn) 31
Company Profile 32
Mauritius Union Group 32
State Insurance Company of Mauritius (SICOM) Group 34
Swan Insurance Co/Anglo-Mauritius Assurance Society 37
Methodology 39
Industry Forecast Methodology 39
Risk/Reward Index Methodology 42
Table: Indicators 44
Table: Weighting of Indicators 45

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