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Mauritius

Life Report

Product Insurance Market Reports Life Rev Mauritius

Key Highlights

Get access to Axco’s online product with the latest market intelligence for the market of your choice

 

  • Key insights and explanations of market developments in life insurance, healthcare and pensions
  • Details Mauritius' insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Mauritius' economic and political environment
  • Demographic information
  • Market statistics and company performance

Report Overview

Independent strategic insight, line of business detail, regulatory information & market data for the non-life (P&C) insurance market of Mauritius

The Mauritius life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Mauritius. Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Mauritius and interview local professionals working across the local market. The report is updated with new information and data regularly throughout the cycle of country visits.

The report provides information about Mauritius’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Mauritius is available.

Axco’s report describes the regulatory framework that applies to the domestic life insurance sector, including whether non-admitted insurance is permitted in Mauritius; as well as the legislation necessary to know regarding Mauritius’ healthcare, pensions and social security.

Statistics include five years of life insurance market performance indicators, including gross written premiums, premium growth and penetration rates. Company statistics show who are the leading life insurance companies in Mauritius with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Mauritius market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.

Healthcare

The report describes the public and private healthcare system in Mauritius, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.

Pensions

Axco reports on the three pillars of Mauritius pension provision.

  • State pension benefits including benefit calculations and eligibility criteria 
  • Workplace pension provision; types of schemes calculations eligibility and; tax implications
  • Voluntary individual pension provision, type of products and tax implications

Social Security

The Mauritius report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

  • state pensions,
  • permanent disability benefit
  • occupational accident and disease
  • maternity and paternity payments 

Mauritius Life and Benefits Report Extract

Below are brief extracts of information from the Mauritius Life & Benefits Report; more updated information may be available in the latest published report.

Life Insurance

At the time of preparing this report there had been a relatively low incidence of recorded COVID-19 cases (337 and 10 deaths) with all cases handled in public hospitals and no pressure on private insurers to pay COVID-19-related claims. The pandemic-induced economic challenges will hit businesses in many sectors hard with unemployment and increased job insecurity likely to lead to lower discretionary spending on life insurance products by both businesses and individuals ....

Pensions

The pension system in Mauritius is a multi-tiered structure with state systems covering the first three pillars in the form of basic retirement pensions, National Pensions Fund (NPF) and National Savings Fund (NSF). The next tier is represented by voluntary private pensions, with the final tier made up of traditional family support and additional state benefits ....

Healthcare

The healthcare provided by the Mauritian state is generally of a reasonable quality, although obtaining it can involve long waiting lists. Avoiding such delays, securing a private room and receiving a better standard of treatment are the motivations behind the growth in private healthcare business acting as a substitute rather than supplementary cover. The government has also sought to encourage private provision of healthcare, probably with a view to reducing pressure on the public health service. As a result, health insurance ....

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