Mauritius Insurance Report - Business Monitor International - Industry Reports

Mauritius Insurance Report

Mauritius Insurance Report - Business Monitor International - Industry Reports
Mauritius Insurance Report
Published Jun 11, 2016
45 pages — Published Jun 11, 2016
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Abstract:

The key drivers of future growth in life insurance premiums written will likely be innovation on the part of the life insurers, and the low rates of interest that are available from other asset classes. In ---- we expect premiums will grow by -.- in local currency terms to MUR--.-bn. ...Average life expectancy is forecast to increase from --.- years in ---- to --.- years in ----. The percentage of the population that is aged -- or over will also grow to over -- over the next few years and as life expectancy increases and the population ages, we expect to see greater demand for retirement and later-in-life savings products, which will also be supported by a healthier population able to work longer and contribute more. At the same time we also expect to see steady gains in average household income rates, with the majority of households falling into the key USD--,--- to USD--,--- income bracket by the end of the forecast period, indicating improved affordability of life cover for many households. ...The percentage of the population that is aged -- or over will also grow to over -- over the next few years and as life expectancy increases and the population ages, we expect to see greater demand for retirement and later-in-life savings products, which will also be supported by a healthier population able to work longer and contribute more. At the same time we also expect to see steady gains in average household income rates, with the majority of households falling into the key USD--,--- to USD--,--- income bracket by the end of the forecast period, indicating improved affordability of life cover for many households.

...Mauritius is embarking on a number of ambitious infrastructure projects, including the development of eight smart cities , which will stimulate growth in the non-life insurance sector, though as a mature market domestic insurers may be more focused upon opportunities in overseas markets. We continue to forecast healthy growth in the Mauritian life insurance segment, with premiums forecast to grow by -.- in local currency terms in ---- to reach MUR--.-bn. ...Mauritius is embarking on a number of ambitious infrastructure projects, including the development of eight smart cities , which will stimulate growth in the non-life insurance sector, though as a mature market domestic insurers may be more focused upon opportunities in overseas markets. We continue to forecast healthy growth in the Mauritian life insurance segment, with premiums forecast to grow by -.- in local currency terms in ---- to reach MUR--.-bn. Further growth over the remainder of the forecast period will lead to premiums of MUR--.-bn with a concurrent increase in density (premiums per capita). ...Further growth over the remainder of the forecast period will lead to premiums of MUR--.-bn with a concurrent increase in density (premiums per capita). The non-life sector is less than half the size of the life market but will record slightly stronger growth over the course of the forecast period, with non-life premiums forecast to increase from MUR-.-bn in ---- to MUR--.-bn in ----.

...In recent years, life insurance claims and payments have accounted for over -- of the total of Mauritius insurance sector. In particular years, such as in ----, growth has been very rapid. ...

  
Source:
Document ID
2053-2903
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Mauritius Insurance Report" Jun 11, 2016. Alacra Store. Dec 05, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Mauritius-Insurance-Report-2026-1490>
  
APA:
Business Monitor International - Industry Reports. (2016). Mauritius Insurance Report Jun 11, 2016. New York, NY: Alacra Store. Retrieved Dec 05, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Mauritius-Insurance-Report-2026-1490>
  
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