Managing General Agent (MGA) Inspired
Mauritius – A Strategic Enabler in the Global Insurance Industry
Insurance through history
Insurance is one of the world’s oldest financial mechanisms, with origins tracing back to ancient civilizations. Over centuries, it has evolved into a sophisticated global industry dedicated to protecting individuals, businesses, and economies from a wide range of risks. Today, insurance plays a critical role in long-term financial stability for both the private and public sectors.
Early forms of insurance emerged among Babylonian and Chinese traders, who mitigated the risk of losing goods by distributing cargo across multiple vessels navigating dangerous trade routes. One of the earliest documented risks sharing practices appears in the Code of Hammurabi (circa 1750 BC), which outlined principles for loss of limitation.
Fast-forward to the modern era: according to the Allianz Global Insurance Report 2025, the global insurance industry grew by 8.6% in 2024, surpassing the already exceptional 8.2% growth in 2023. Premiums increased by USD 640 billion, bringing global premium income to approximately USD 8 trillion. Over the next decade, the industry is projected to expand at an average annual rate of 5.3%, underscoring its resilience and long-term potential.
Opportunities in Insurance Support Services
The sustained growth of the insurance sector highlights the increasing interest of global stakeholders and the need for strategic positioning in jurisdictions that can support this momentum. One such known global concept gaining prominence worldwide is the Managing General Agent (MGA).
MGAs have earned a strong reputation for driving innovation and unlocking new business opportunities. They often specialise in niche underwriting, deploy advanced technologies, and respond quickly to emerging market needs. Acting on behalf of insurers, MGAs typically undertake functions such as:
- Underwriting
- Policy issuance
- Claims management
- Distribution and marketing
The Global Insurance Law Connect (GILC) report, covering insights from 18 countries, confirms a global consensus: MGAs provide insurers with an effective pathway to new markets, product innovation, and operational efficiency. Their role varies across jurisdictions, ranging from addressing capacity shortages to enabling bespoke underwriting or expanding insurers’ geographic reach.
Mauritius’ Insurance Structures
As Mauritius continues its journey to position itself as a regional insurance hub, it offers several regulatory structures tailored to support insurers, reinsurers, and intermediaries. Key licences include:
- Insurance Manager
- (Re)insurance Broker
- External Insurance Business
- Professional Reinsurer
Insurance Manager – Mauritius’ Equivalent of an MGA
The Insurance Manager licence most closely mirrors the MGA model. Insurance Managers provide managerial, administrative, and technical services, often including underwriting, policy issuance, claims handling, distribution, and marketing, particularly for insurers that outsource operational functions.
(Re)insurance Broker
Unlike Insurance Managers, brokers act on behalf of clients rather than insurers. They specialize in risk management and insurance placement, helping clients identify the most suitable coverage across multiple insurers.
External Insurance Business
External Insurance Business refers to insurance activities carried out for clients or risks located outside Mauritius. As an External Insurer it is allowed to underwrite foreign risks, issue policies to non residents and operate internationally from Mauritius.
Professional Reinsurer
A Professional Reinsurer provides reinsurance solutions, effectively “insurance for insurers.” They help insurers manage large or catastrophic risks, increase underwriting capacity, stabilize financial results, and access specialized expertise in risk modelling and underwriting.
Mauritius as an Insurance Platform
Mauritius is recognized as one of Africa’s leading insurance markets and an emerging reinsurance hub. Its appeal is strengthened by a robust regulatory framework, macroeconomic stability, and a business-friendly environment that attracts both local and international insurers accompanied with a sector which is actively modernising through new insurance facilities and structures both for domestic and global business.
According to Statista, Mauritius’ Gross Written Premium (GWP) is expected to reach USD 1.5 billion in 2025, with projections rising to USD 1.65 billion by 2030, reflecting steady growth and sustained investor interest. The island’s unique advantages include strategic location, skilled workforce, strong governance, and international connectivity, make it an attractive jurisdiction for establishing insurance structures, expanding into new markets, or supporting global operations through specialized or niche services.
As an International Financial Centre, Mauritius the leader in Africa and stands just behind Dubai and Abu Dhabi when considering the broader Africa–Middle East region. Its credibility in the (re)insurance sector is reinforced by:
- Membership of the International Association of Insurance Supervisors (IAIS), ensuring adherence to global supervisory standards.
- Membership in the Committee of Insurance, Securities and Nonbanking Financial Authorities (CISNA), supporting cross border insurance and reinsurance cooperation within the SADC region.
- Multiple MoUs between the Financial Services Commission (FSC) and international regulators, strengthening supervisory collaboration.
- Membership in the Multilateral Investment Guarantee Agency (MIGA), enabling access to political risk insurance and credit enhancement for foreign investment.
Mauritius also offers a competitive tax framework:
- 3% corporate tax for reinsurance brokering and reinsurance activities
- 15% corporate tax for insurance brokering and insurance activities
Why JurisTax
We offer a comprehensive suite of services that spans day-to-day administration, secretarial, regulatory compliance, and governance, as well as certain specialized insurance functions including claims management, policy & premiums handling and other insurance operations support. Our approach enables clients to concentrate on their core business activities while we manage the intricacies of their administrative functions.
Our in-house professionals bring extensive experience in insurance administration, governance, and compliance, ensuring seamless support from structuring and setup to ongoing operational management.
We uphold the highest standards of quality, security, and regulatory compliance. Our commitment to data privacy and client confidentiality ensures that every service we deliver is accurate, secure, cost-effective, and executed within agreed timelines.
To explore how Mauritius can support your insurance structuring and cross-border risk management strategy, speak with our team.
Kaviraj Nuckchedee
Business Development Manager – JurisTax
- (230) 5254 8587
- (230) 465 5526
- knuckchedee@juristax.com
- Hotel Avenue 33 Cybercity, Ebene, 72201 Mauritius