Quantum Insurance – Your Insurance Partner in Mauritius
Mighty Mauritius
Off the coast of Africa,
in the Indian Ocean, Mauritius is a very small island economy, which hasbeen extraordinarily
successful in accomplishinghighly rapid economic growth when we talk about
their financial as well as political stability. This success has been in a
highly sharp contrast to the other poor economic performances of most of their neighboring
nations in the continent of Africa. This has been largely attributed to their pursuit
of highly stable macroeconomic policies as well as to the creation of perfect regulatory
framework, which has been encouraging the development of their private-sector.
Mauritius’ Insurance Industry
Mauritius has been a witness to a sea change in insurance
industry in the last decade or so. The growth in this industry segment can be
directly attributed to the fact that the country leverages the advantages of
macroeconomic stability, sound regulations controlling the insurance market
segment, and diversity of premium products, investment plans, and reinsurance
benefits. Mauritius enjoys the luxury of
having the most robust and dynamic insurance market for a small island economy
so much so that it can create ample growth opportunities so that benefits can
be extended and share with all its citizens. Even though this insurance
industry can be deemed small owing to its geography, still it hosts around 14
world-class insurance firms competing in this challenging yet upcoming market
space. When these firms were finding it hard to achieve desired results, they
actively contemplate mergers and acquisitions to become big players in this
segment. This enabled them to have stringent control over the systems and
policies not only to lure more and more customers, but providing them with
extra benefits, which were otherwise impossible to extend to a much wider customer
base. One such big player in this segment is New India Assurance Company that
has expanded its roots on this island in as early as 1919 owing to its rich
experience from operations in Afro-Asia and India.
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