Huge Disparities

On the whole, the insurance sector is still very profitable. However, huge disparities are to be reported. In terms of turnover, no major event seems to have stirred up the established ranking.

If global profitability for the sector is still high, it is however diminishing for some major actors of the area. The least we can say is that the "small" companies are as dynamic as ever, still displaying excellent profitability indicators. Cause to be jealous for some of the sector's giants!

Rank	Company	Country	Turnover	Net Profit
1	Prudence Créole	Reunion	84,588,256	8,484,705
2	Groupama Ocean Indien	Reunion	70,144,123	1,707,696
3	AGF Délégation Océan Indien	Reunion	64,000,000	na
4	British American Insurance Co.Ltd.	Mauritius	50,754,100	-9,164,200
5	Anglo Mauritius Assurance Soc. Ltd	Mauritius	30,000,000	na
6	Swan Insurance Co. Ltd	Mauritius	15,466,075	3,399,250
7	Mauritius Union Assurance Co. Ltd	Mauritius	16,615,789	2,694,737
8	State Insurance Company Ltd.	Mauritius	15,446,075	3,399,250
9	La Prudence Mauricienne Ltd.	Mauritius	12,109,271	350,191
10	Mauritian Eagle Insurance Co.Ltd.	Mauritius	12,106,264	743,366
11	ARO	Madagascar	12,024,000	2,200,000
12	Life Insurance Corporation of India	Mauritius	10,110,136	4,053,709
13	Island General Insurance Co. Ltd.	Mauritius	5,493,775	110,559
14	Albatross Insurance	Mauritius	3,062,100	1,295,200

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 40).

Source: L'Eco Austral / Hors Série N° 10 / Edition 2007