The Profitability of Small Insurers

The insurers have a tendency to challenge the banks by developing investment products and private insurance in general. In fact, the traditional activity of insuring oneself against risks seems to be losing its profitability. One cyclone is enough to completely overturn the situation.

The remarkable point in this ranking remains the excellent profitability of small insurers who recall record net results superior to those of their larger competitors. We can equally note that the global turnovers are on the rise, whereas the profits for their part seem to be taking the opposite route. The diversification trend is proving to be fruitful.

			Turnover
Rank	Company	Country	(Millions	NET Profit
			of Euros)	(Euros)
1	British American Insurance Co.Ltd.	Mauritius	109,588	8,167,037
2	Groupama Assurances	Reunion	56,500	-400,000
3	Prudence Créole	Reunion	55,891	513,000
4	AGF Délégation Océan Indien	Mauritius	54,700	na
5	Anglo Mauritius Assurance Soc. Ltd	Mauritius	28,146	na
6	Swan Insurance Co. Ltd	Mauritius	19,021	1,664,395
7	Mauritius Union Assurance Co. Ltd.	Mauritius	18,561	1,439,800
8	State Insurance Company Mtus. Ltd	Mauritius	15,596	4,295,263
9	Mauritian Eagle Insurance Co. Ltd.	Mauritius	11,236	759,581
10	La Prudence Mauricienne Ltd.	Mauritius	10,755	642,693
11	Life Insurance Corporation of India	Mauritius	10,508	4,429,158
12	Island General Insurance Co. Ltd.	Mauritius	4,907	151,492
13	AGF-CMA	Mayotte	3,150	na

Note : (1€ = Rs 28.752).

Source: L'Eco Austral / Hors Série N° 5 / Edition 2004