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BMI View: Mauritius is home to one of the best-developed life insurance markets in Africa. Nevertheless,
premiums should continue to grow by around 5-6% annually over the forecast period. The main drivers will
be the general growth in the economy, rising household incomes and innovation on the part of the life
insurers. The smaller non-life segment should grow more rapidly, thanks to a rapid expansion in the health
& personal accident insurance sub-sector.
Key Updates And Forecasts
? Mauritius is embarking on a number of ambitious infrastructure projects, including the development of
eight 'smart cities', which should stimulate growth in the non-life insurance sector, though, as it is a
mature market, domestic insurers may be more focused upon opportunities in overseas markets.
? This quarter we are maintaining our forecasts for the life segment, where premiums should achieve sold
growth, both this year and through the forecast period.
? Recent results from the leading insurers have caused us to lift our forecasts for the health & personal
accident sub-sector of the non-life segment. Whereas we had previously forecast annual growth of about
10%, we are now anticipating an annual expansion of about 12%. As a consequence, we are forecasting
faster growth in non-life premiums than in Q316.