Africa · 4 countries
Indian Ocean
Island markets with outsized reinsurance and offshore activity relative to population.

Explore the directory
Indian Ocean
Select a market to explore its insurers.
A sense of place
Explore Indian Ocean
Landscapes, craft and connections behind the region’s markets. Original AI-generated editorial illustrations; scenes combine places and are not documentary photographs.

Landmarks & landscape
Mauritius Le Morne Brabant peninsula above turquoise lagoon, rich topographic detail

Culture & craft
Comorian carved wooden boat on shore beside woven baskets and a craft workshop, contemporary island livelihoods

Trade & livelihoods
Port Louis harbour, inter-island cargo vessel, vanilla cultivation and coastal businesses, maritime enterprise

An illustrated atlas
southwest Indian Ocean, Madagascar largest island left, Comoros northwest, Seychelles northeast, Mauritius east; relative placement, no borders or labels
Artistic geography, not to scale. Use the interactive market map above for country coverage.
Through the lens
Places in focus
Real photographs shared under free licenses.

Le Morne Brabant
"dronepicr" · CC BY 2.0 · Wikimedia Commons
Resized and converted to WebP.

Avenue of the Baobabs
Pat Hooper from Chicago, IL, USA · CC BY-SA 2.0 · Wikimedia Commons
Resized and converted to WebP.

La Digue
dronepicr · CC BY 2.0 · Wikimedia Commons
Resized and converted to WebP.
All 62 insurers in Indian Ocean
Scroll horizontally to compare columns.
| Company | Country | Class | Parent / group | Ownership | Regulator | Verification | Popularity |
|---|---|---|---|---|---|---|---|
| ARO (Assurances Reassurances Omnibranches)State-owned Market leader; Registered as Assurances-Reassurances Omnibranches (ARO) | Madagascar | CComposite | Government / private | State-owned / parastatal | CSBF | Verified | — |
| MAMA (Mutuelle d'Assurance Malagasy) Registered as Mutuelle d'Assurance Malagasy (MAMA) | Madagascar | CComposite | Mutual | Mutual / cooperative | CSBF | Verified | — |
| Ny HavanaState-owned Registered as Compagnie Malgache d'Assurance et de Reassurance NY HAVANA (CMAR NY HAVANA) | Madagascar | CComposite | Government of Madagascar | State-owned / parastatal | CSBF | Verified | — |
| Sanlam Allianz Madagascar Registered as SANLAM Assurances (ex SAHAM) | Madagascar | CComposite | Sanlam AllianzIAIG | Pan-African group | CSBF | Verified | — |
| GFA Insurance Registered as G.F.A Insurance Ltd | Mauritius | GGeneral (Non-life) | Independent | Domestic private | FSC | Verified | — |
| Lamco International Insurance | Mauritius | GGeneral (Non-life) | Independent | Domestic private | FSC | Verified | — |
| Mauritian Eagle Insurance Registered as EAGLE INSURANCE LIMITED | Mauritius | GGeneral (Non-life) | IBL Group | Domestic private | FSC | Verified | — |
| Mauritius Union Assurance (MUA)SEM: MUA Also Kenya, Uganda, Tanzania, Rwanda, Seychelles; Registered as THE MAURITIUS UNION ASSURANCE CY. LTD | Mauritius | GGeneral (Non-life) | MUA (Mauritius Union) | Pan-African group | FSC | Verified | — |
| NIC General InsuranceState-owned Successor to BAI | Mauritius | GGeneral (Non-life) | National Insurance Co (Government) | State-owned / parastatal | FSC | Verified | — |
| Phoenix Insurance (Mauritius) | Mauritius | GGeneral (Non-life) | Independent | Domestic private | FSC | Verified | — |
| Quantum Insurance | Mauritius | GGeneral (Non-life) | Independent | Domestic private | FSC | Verified | — |
| SICOM General InsuranceState-owned State Insurance Co of Mauritius | Mauritius | GGeneral (Non-life) | SICOM Group | State-owned / parastatal | FSC | Verified | — |
| Swan GeneralSEM: SWAN SEM-listed | Mauritius | GGeneral (Non-life) | Swan Group | Domestic private | FSC | Verified | — |
| MUA LifeSEM: MUA | Mauritius | LLife | MUA (Mauritius Union) | Pan-African group | FSC | Verified | — |
| NIC LifeState-owned Registered as NATIONAL INSURANCE CO. LTD | Mauritius | LLife | National Insurance Co (Government) | State-owned / parastatal | FSC | Verified | — |
| SICOM LifeState-owned Registered as State Insurance Company of Mauritius Ltd | Mauritius | LLife | SICOM Group | State-owned / parastatal | FSC | Verified | — |
| Swan LifeSEM: SWAN Formerly Anglo-Mauritius | Mauritius | LLife | Swan Group | Domestic private | FSC | Verified | — |
| SACOS Group (State Assurance Co of Seychelles)State-owned Life and general subsidiaries; Registered as SACOS Insurance group of Companies | Seychelles | CComposite | Government of Seychelles | State-owned / parastatal | FSA | Verified | — |
| H Savy Insurance Registered as HSAVY Insurance Company Ltd | Seychelles | GGeneral (Non-life) | Independent | Domestic private | FSA | Verified | — |
| MUA SeychellesSEM: MUA | Seychelles | GGeneral (Non-life) | MUA (Mauritius Union) | Pan-African group | FSA | Verified | — |
| 1st Insurance (Seychelles) Ltd Domestic insurer; register gives no class of business; ownership not researched | Seychelles | UNot stated in register | Parent not named in register | Domestic private | FSA | Verified | — |
| Alliance Insurance (Seychelles) Domestic insurer; register gives no class of business; ownership not researched; Registered as Alliance Insurance | Seychelles | UNot stated in register | Parent not named in register | Domestic private | FSA | Verified | — |
| Aquilano Insurance PCC Ltd Non-domestic insurer (protected cell company); register gives no class of business; ownership not researched | Seychelles | UNot stated in register | Parent not named in register | Domestic private | FSA | Verified | — |
| Atlas Life Insurance (PCC) Ltd Non-domestic insurer; ownership not researched | Seychelles | LLife | Parent not named in register | Domestic private | FSA | Verified | — |
| C&C Insurance Company PCC Ltd Non-domestic insurer (protected cell company); register gives no class of business; ownership not researched; Registered as C&C Insurance Company PCC Lmited | Seychelles | UNot stated in register | Parent not named in register | Domestic private | FSA | Verified | — |
| EOE P&I Association Ltd Non-domestic insurer; a protection and indemnity (P&I) association by name, so class X and mutual; ownership not researched; Ownership type inferred from name; parent not researched | Seychelles | XSpecialty / Credit / Captive | Parent not named in register | Mutual / cooperative | FSA | Verified | — |
| Jardins Union Insurance PCC Ltd Non-domestic insurer (protected cell company); register gives no class of business; ownership not researched | Seychelles | UNot stated in register | Parent not named in register | Domestic private | FSA | Verified | — |
| Solid Oak Insurance Company PCC Ltd Non-domestic insurer; ownership not researched | Seychelles | LLife | Parent not named in register | Domestic private | FSA | Verified | — |
| Astral Insurance PCC Ltd Non-domestic insurer (protected cell company); register gives no class of business; ownership not researched | Seychelles | UNot stated in register | Parent not named in register | Domestic private | FSA | Verified | — |
| Atlas Speciality Insurance (PCC) Ltd Non-domestic insurer (protected cell company); register gives no class of business; ownership not researched | Seychelles | UNot stated in register | Parent not named in register | Domestic private | FSA | Verified | — |
| Acclime Captive Insurance Ltd Non-domestic captive insurer; ownership not researched | Seychelles | XSpecialty / Credit / Captive | Parent not named in register | Domestic private | FSA | Verified | — |
| Horizon International Insurance PCC Ltd Non-domestic insurer (protected cell company); register gives no class of business; ownership not researched | Seychelles | UNot stated in register | Parent not named in register | Domestic private | FSA | Verified | — |
| Secure Life PCC Ltd Non-domestic insurer (protected cell company); a life insurer by name; ownership not researched | Seychelles | LLife | Parent not named in register | Domestic private | FSA | Verified | — |
| Allianz MadagascarFWB: ALV Licensed by arrete n° 19989/05 du 29 Decembre 2005; the CSBF lists it as a licensee distinct from SANLAM Assurances (ex SAHAM). The CSBF list gives no licence class, and the name does not settle it, so classCode is U - in practice the Malagasy market is composite, but nothing official was retrieved that says so. Ownership is not stated by the register; the register's own contact line for the licensee is azmg_allianz_madagascar@allianz.com, which is why the group is recorded as Allianz. Whether this entity now sits inside the SanlamAllianz joint venture was not established - SanlamAllianz's own site points its Madagascar link at mg.sanlamallianz.com, which corresponds to the SANLAM Assurances (ex SAHAM) licensee, not to this one. | Madagascar | UNot stated in register | AllianzIAIG | Foreign multinational | CSBF | Verified | — |
| AFG Assurances Comores Trades as 'AFG Assur Comores'. Wiya quotes it as 'authorized by the Ministry of Finance and Budget of the Union of the Comoros since November 25th' (year not given) and as 'an IARDT and Life insurance company'; the company site offers savings/retirement and non-life products, so classed composite. A web search excerpt of an AFG Assurances Cameroun page says it was formerly 'Comor Assurances' - not confirmed on a primary page. AFG Holding is Ivorian (founded 2006 by Koné Dossongui). | Comoros | CComposite | AFG (African Financial Group) | Pan-African group | BCC | Unverified | — |
| Amana Assurances Site describes it as 'un assureur moderne' and one of the leaders of Comorian insurance; products are motor, transport/marine, travel, health, school, home, contractors' all risks and commercial multi-risk; staff list includes a 'Souscripteur Réassurance & Vie', so a life line cannot be excluded. Classed G on the product list. Licence date not found. Ownership not researched. Earlier name 'Al Amana' is inferred from the Wikipedia mention. | Comoros | GGeneral (Non-life) | Parent not named in register | Domestic private | BCC | Unverified | — |
| Comorian Insurance Company Unverified source-listed name from a 2024 diagnostic, not confirmation of a current licence or a distinct legal entity. Class and ownership not established. Possible alias of another listed or historical Comoros insurer; identity reconciliation is pending. Name retained as printed by UNDP. | Comoros | UNot stated in register | Parent not named in register | Ownership unverified | BCC | Unverified | — |
| Alamana Assurance Unverified source-listed name from a 2024 diagnostic, not confirmation of a current licence or a distinct legal entity. Class and ownership not established. Possible alias of another listed or historical Comoros insurer; identity reconciliation is pending. Name retained as printed by UNDP. | Comoros | UNot stated in register | Parent not named in register | Ownership unverified | BCC | Unverified | — |
| Assurances Générales des Comoros Unverified source-listed name from a 2024 diagnostic, not confirmation of a current licence or a distinct legal entity. Class and ownership not established. Possible alias of another listed or historical Comoros insurer; identity reconciliation is pending. Name retained as printed by UNDP. | Comoros | UNot stated in register | Parent not named in register | Ownership unverified | BCC | Unverified | — |
| MAC Assurances Unverified source-listed name from a 2024 diagnostic, not confirmation of a current licence or a distinct legal entity. Class and ownership not established. Possible alias of another listed or historical Comoros insurer; identity reconciliation is pending. Name retained as printed by UNDP. | Comoros | UNot stated in register | Parent not named in register | Ownership unverified | BCC | Unverified | — |
| Big Assurances Unverified source-listed name from a 2024 diagnostic, not confirmation of a current licence or a distinct legal entity. Class and ownership not established. Possible alias of another listed or historical Comoros insurer; identity reconciliation is pending. Name retained as printed by UNDP. | Comoros | UNot stated in register | Parent not named in register | Ownership unverified | BCC | Unverified | — |
| Vip Assurance Unverified source-listed name from a 2024 diagnostic, not confirmation of a current licence or a distinct legal entity. Class and ownership not established. Possible alias of another listed or historical Comoros insurer; identity reconciliation is pending. Name retained as printed by UNDP. | Comoros | UNot stated in register | Parent not named in register | Ownership unverified | BCC | Unverified | — |
| Masiwa Assurance Unverified source-listed name from a 2024 diagnostic, not confirmation of a current licence or a distinct legal entity. Class and ownership not established. Possible alias of another listed or historical Comoros insurer; identity reconciliation is pending. Name retained as printed by UNDP. | Comoros | UNot stated in register | Parent not named in register | Ownership unverified | BCC | Unverified | — |
| Swan Special Risks CompanySEM: SWAN Parent inferred from name; ownership not researched | Mauritius | GGeneral (Non-life) | Swan Group | Ownership unverified | FSC | Verified | — |
| The New India Assurance Company (Mauritius branch)NSE: NIACL Branch of the Indian insurer; ownership type inferred from name; Registered as The New India Assurance Company Ltd | Mauritius | GGeneral (Non-life) | New India Assurance | Ownership unverified | FSC | Verified | — |
| Indian Ocean General Assurance Ownership not researched; Ownership type inferred from name; parent not researched | Mauritius | GGeneral (Non-life) | Parent not named in register | Ownership unverified | FSC | Verified | — |
| Credit Guarantee Insurance Co Class inferred from name; credit insurer; ownership not researched; Ownership type inferred from name; parent not researched | Mauritius | XSpecialty / Credit / Captive | Parent not named in register | Ownership unverified | FSC | Verified | — |
| Afri Life Insurance Ownership not researched; Ownership type inferred from name; parent not researched | Mauritius | LLife | Parent not named in register | Ownership unverified | FSC | Verified | — |
| Island Life Assurance Co Ownership not researched; Ownership type inferred from name; parent not researched | Mauritius | LLife | Parent not named in register | Ownership unverified | FSC | Verified | — |
| Life Insurance Corporation of India (Mauritius branch)BSE: 543526 Branch of the Indian insurer; ownership type inferred from name; Registered as Life Insurance Corporation of India | Mauritius | LLife | Life Insurance Corp of India | Ownership unverified | FSC | Verified | — |
| Providence Life PCC Protected cell company, long-term; ownership not researched; Ownership type inferred from name; parent not researched | Mauritius | XSpecialty / Credit / Captive | Parent not named in register | Ownership unverified | FSC | Verified | — |
| International Assurance PCC Protected cell company, long-term; ownership not researched; Ownership type inferred from name; parent not researched | Mauritius | XSpecialty / Credit / Captive | Parent not named in register | Ownership unverified | FSC | Verified | — |
| Guardrisk Insurance Company Mauritius PCC Protected cell company, external business; parent inferred from name, group not researched | Mauritius | XSpecialty / Credit / Captive | Guardrisk | Ownership unverified | FSC | Verified | — |
| Santam Structured Insurance PCC Protected cell company, external business; parent inferred from name, group not researched | Mauritius | XSpecialty / Credit / Captive | Santam | Ownership unverified | FSC | Verified | — |
| SanlamAllianz General Insurance Surviving entity of the Jubilee Allianz amalgamation (FSC notice of 17 Oct 2025, as Sanlam General Insurance Limited); parent inferred from name | Mauritius | GGeneral (Non-life) | Sanlam AllianzIAIG | Ownership unverified | FSC | Verified | — |
| Master Drilling Captive Captive; listed under both captive licence types; ownership not researched; Ownership type inferred from name; parent not researched | Mauritius | XSpecialty / Credit / Captive | Parent not named in register | Ownership unverified | FSC | Verified | — |
| ProtectSure Captive Insurance Company Captive; ownership not researched; Ownership type inferred from name; parent not researched | Mauritius | XSpecialty / Credit / Captive | Parent not named in register | Ownership unverified | FSC | Verified | — |
| Capfin Africa Captive; ownership not researched; Ownership type inferred from name; parent not researched | Mauritius | XSpecialty / Credit / Captive | Parent not named in register | Ownership unverified | FSC | Verified | — |
| Global Insurance (Mauritius) Captive; ownership not researched; Ownership type inferred from name; parent not researched | Mauritius | XSpecialty / Credit / Captive | Parent not named in register | Ownership unverified | FSC | Verified | — |
| Healthguard International Class inferred from name; external insurance business; ownership not researched; Ownership type inferred from name; parent not researched | Mauritius | HHealth / Medical | Parent not named in register | Ownership unverified | FSC | Verified | — |
| Expacare Insurance Company (Mauritius) Class inferred from name; external insurance business; ownership not researched; Ownership type inferred from name; parent not researched | Mauritius | HHealth / Medical | Parent not named in register | Ownership unverified | FSC | Verified | — |
| Guardrisk Life International Class inferred from name; external insurance business; parent inferred from name, group not researched | Mauritius | LLife | Guardrisk | Ownership unverified | FSC | Verified | — |
No insurers match that filter.
Popularity is an estimate of how often people search Google for each insurer, from 0 to 100; the bars show how confident the estimate is. Not a rating of the insurer. How the index works