Insurance sector

Mauritius boasts a well-developed insurance sector, with market penetration surpassing India and rivalling Singapore (Vittas Report March 2003). The Financial Sector Assessment report of August 2003, jointly conducted by the IMF and World Bank, lauds the industry as “well developed” and highlights the efficiency and financial strength of large and medium-sized companies. Despite high concentration, competitiveness, efficiency, and profitability prevail. The report suggests further consolidation to enhance competition, safety, and regulatory standards.

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