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Mauritius Insurance Report Q2 2016

Mauritius Insurance Report Q2 2016

BMI View: We retain our broadly positive view of the prospects for Mauritius' insurance sector. Lifeinsurance already plays a central role in organised savings, and will continue to grow as a result ofinnovation on the part of the leading insurers - both in terms of product design and distribution. Non-lifeinsurance should be boosted by healthcare cost inflation and higher volumes in the motor vehicle insurancesub-sector.

Key Updates And Forecasts

As of late 2015, well over 80% of the policy holders of the Super Cash Back Gold Plan of failed insurerBAI had been repaid in full by the government's National Property Fund Limited (NPFL). The remainingpolicy holders have, in general, either not registered properly with NPFL or have pledged their policies.

We are maintaining our forecasts for the life insurance segment, and forecast premiums of MUR18.7bn in2016 and of MUR23.22bn in 2020. The main challenge for the segment is the lack of new users. Virtuallyall households (and in relation to group products, companies) that are afford life insurance and whounderstand it are already using it.

We have lifted our projections for non-life premiums slightly. We now look forecast premiums ofMUR8.4bn in 2016 and of MUR11.5bn in 2020. This is due to our increase in forecast health andpersonal accident premiums (which takes into account greater inflation in healthcare costs).


BMI Industry View
Table: Headline Insurance Forecasts (Mauritius 2013-2020)
SWOT
Insurance
Industry Forecast
Life Premiums Forecast
Table: Life Premiums (Mauritius 2013-2020)
Table: Life Insurance Claims (Mauritius 2008-2013)
Non-Life Premiums Forecast
Table: Non-Life Premiums (Mauritius 2013-2020)
Table: Non-Life Insurance Claims (Mauritius 2009-2013)
Non-Life Sub-Sector Forecast
Table: Non-Life Insurance Premiums by Product Line (Mauritius 2013-2020)
Insurance Risk/Reward Index
Sub-Saharan Africa Risk/Reward Index
Table: Sub-Saharan Africa Insurance Risk/Reward Index - Q216
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
Table: Life Insurance Market, 2009-2013 (USDmn)
Non-Life Market Overview
The Product Offering
The Competitive Landscape
Table: Non-Life Insurance Market, 2009-2013 (USDmn)
Company Profile
Mauritius Union Group
State Insurance Company of Mauritius (SICOM) Group
Swan Insurance Co./Anglo-Mauritius Assurance Society
Methodology
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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