Governance, Risk and Compliance - The Mauritian Insurance Industry

Table of Contents
1 Introduction
1.1 What is this Report About?
1.2 Definitions
2 Governance, Risk and Compliance
2.1 Legislation Overview and Historical Evolution
2.2 Latest Changes in Regulation
2.3 Legislation and Market Practice by Type of Insurance
2.3.1 Life insurance
2.3.2 Property insurance
2.3.3 Motor insurance
2.3.4 Liability insurance
2.3.5 Marine, aviation and transit insurance
2.3.6 Personal accident and health insurance
2.4 Compulsory Insurance
2.4.1 Motor third party liability insurance
2.4.2 Craft third-party liability insurance
2.4.3 Workers' compensation
2.4.4 Marine oil pollution insurance
2.4.5 Professional indemnity insurance for brokers
2.5 Supervision and Control
2.5.1 International Association of Insurance Supervisors
2.5.2 African Insurance Organization
2.5.3 Committee of Insurance, Securities and Non-Banking Financial Authorities
2.5.4 Financial Services Commission
2.6 Non-Admitted Insurance Regulation
2.6.1 Overview
2.6.2 Intermediaries
2.6.3 Market practices
2.6.4 Fines and Penalties
2.7 Company Registration and Operations
2.7.1 Type of insurance organization
2.7.2 Establishing a local company
2.7.3 Foreign ownership
2.7.4 Types of license
2.7.5 Capital requirements
2.7.6 Solvency margin
2.7.7 Reserve requirements
2.7.8 Investment regulations
2.7.9 Statutory return requirements
2.7.10 Fee structure
2.8 Taxation
2.8.1 Insurance premium or policy taxation
2.8.2 Withholding taxes on premium paid overseas
2.8.3 Corporate tax
2.8.4 VAT
2.8.5 Captives
2.9 Legal System
2.9.1 Introduction
2.9.2 Access to court
2.9.3 Alternative dispute resolution
3 Appendix
3.1 Methodology
3.2 Contact GlobalData
3.3 About GlobalData
3.4 GlobalData's Services
3.5 Disclaimer

List of Tables
Table 1: Insurance Industry Definitions
Table 2: Mauritius - Insurance Regulatory Framework Key Features
Table 3: Mauritius - Life Insurance Regulatory Framework
Table 4: Mauritius - Property Insurance Regulatory Framework
Table 5: Mauritius - Motor Insurance Regulatory Framework
Table 6: Mauritius - Contribution to Hit and Run Sub-fund
Table 7: Mauritius - Liability Insurance Regulatory Framework
Table 8: Mauritius - Capital Requirement for Captive Insurance Companies
Table 9: Mauritius - Fee for Carrying on Insurance Business
Table 10: Mauritius - Fee for Insurance Intermediaries
Table 11: Mauritius - Corporate Tax Rates for the Financial Year 2019

List of Figures
Figure 1: Mauritius - Insurance Supervision and Control at Various Levels
Figure 2: Mauritius - Insurance Regulatory Frameworks for Company Registration and Operation