Always a very profitable sector

The insurance companies in the report can rub their hands in delight, as they always produce excellent results. These results are even better because no cyclones hit either Reunion or Mauritius during the previous financial year.

In Mauritius, the insurance companies have continued to diversify their activities, and are now competing with the banking sector with some very attractive savings plans. It should be noted that life insurance and pensions have benefited from intensive promotion campaigns.

Rank	Company	Country	Turnover	Net Profit
1	Prudence Créole	Reunion	67,501,232	8,658,739
2	Groupama Assurances	Reunion	64,600,000	1,100,000
3	British American Insurance Co.Ltd.	Mauritius	60,905,573	7,485,697
4	AGF Délégation Océan Indien	Reunion	55,003,000	8,500,000
5	Anglo Mauritius Assurance Soc. Ltd	Mauritius	25,256,966	na
6	Mauritius Union Assurance Co. Ltd.	Mauritius	18,185,759	2,126,935
7	State Insurance Company Mtus. Ltd	Mauritius	18,034,737	5,280,209
8	Swan Insurance Co. Ltd	Mauritius	17,873,065	1,430,341
9	Mauritian Eagle Insurance Co. Ltd.	Mauritius	12,088,623	775,410
10	Life Insurance Corporation of India	Mauritius	10,329,619	4,352,555
11	La Prudence Mauricienne Ltd.	Mauritius	9,573,897	572,137
12	Island General Insurance Co. Ltd.	Mauritius	5,170,588	70,030
13	AGF-CMA	Mayotte	3,708,931	na
14	Albatross Insurance	Mauritius	2,552,043	763,653

In order to work out the rankings, we have used the euro as the only currency. The conversion from rupees to euros was based on the average exchange rate for the financial year in question, that is (1€ = Rs 32.30).

Source: L'Eco Austral / Hors Série N° 7 / Edition 2005