Mauritius

Axco provides details on the life insurance sector including Mauritius market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.

The report describes the public and private healthcare system in Mauritius, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.

Axco reports on the three pillars of Mauritius pension provision.

• State pension benefits including benefit calculations and eligibility criteria 
• Workplace pension provision; types of schemes calculations eligibility and; tax implications
• Voluntary individual pension provision, type of products and tax implications

The Mauritius report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

• state pensions,
• permanent disability benefit
• occupational accident and disease
• maternity and paternity payments 

At the time of preparing this report there had been a relatively low incidence of recorded COVID-19 cases (337 and 10 deaths) with all cases handled in public hospitals and no pressure on private insurers to pay COVID-19-related claims. The pandemic-induced economic challenges will hit businesses in many sectors hard with unemployment and increased job insecurity likely to lead to lower discretionary spending on life insurance products by both businesses and individuals ....

The pension system in Mauritius is a multi-tiered structure with state systems covering the first three pillars in the form of basic retirement pensions, National Pensions Fund (NPF) and National Savings Fund (NSF). The next tier is represented by voluntary private pensions, with the final tier made up of traditional family support and additional state benefits ....

The healthcare provided by the Mauritian state is generally of a reasonable quality, although obtaining it can involve long waiting lists. Avoiding such delays, securing a private room and receiving a better standard of treatment are the motivations behind the growth in private healthcare business acting as a substitute rather than supplementary cover. The government has also sought to encourage private provision of healthcare, probably with a view to reducing pressure on the public health service. As a result, health insurance ....