{
  "dataset": "Insurers Global — Africa Insurance Companies Directory",
  "version": "2026-09-02+b4c86679e80b",
  "verified": "2026-09-02",
  "licence": "CC BY 4.0 — attribute KAFS North America (Kenbright Actuarial and Financial Services North America), https://insurers.global",
  "data": {
    "slug": "madagascar",
    "name": "Madagascar",
    "workbookName": "Madagascar",
    "iso2": "MG",
    "iso3": "MDG",
    "isoNum": "450",
    "region": "indian-ocean",
    "regulator": {
      "name": "Commission de Supervision Bancaire et Financiere / Ministry of Finance",
      "acronym": "CSBF",
      "website": null,
      "regime": "Non-CIMA francophone market",
      "registerSource": "Compiled from market knowledge; regulator register not retrieved - verify"
    },
    "currency": "MGA",
    "total": 4,
    "byClass": {
      "composite": 4
    },
    "byGroupType": {
      "state-owned-parastatal": 2,
      "mutual-cooperative": 1,
      "pan-african-group": 1
    },
    "verification": {
      "level": "unverified",
      "status": "NOT verified in this pass",
      "source": "Compiled from market knowledge; regulator register not retrieved",
      "corrections": "Pending - see Regulators sheet for the supervisor to check"
    },
    "marketNotes": [],
    "url": "https://insurers.global/countries/madagascar/",
    "api": "https://insurers.global/api/v1/countries/madagascar.json",
    "insurers": [
      {
        "slug": "madagascar-aro-assurances-reassurances-omnibranches",
        "name": "ARO (Assurances Reassurances Omnibranches)",
        "class": "composite",
        "classCode": "C",
        "group": "Government / private",
        "groupSlug": null,
        "groupType": "state-owned-parastatal",
        "verification": "unverified",
        "notes": "Market leader",
        "url": "https://insurers.global/insurers/madagascar-aro-assurances-reassurances-omnibranches/"
      },
      {
        "slug": "madagascar-mama-mutuelle-dassurance-malagasy",
        "name": "MAMA (Mutuelle d'Assurance Malagasy)",
        "class": "composite",
        "classCode": "C",
        "group": "Mutual",
        "groupSlug": null,
        "groupType": "mutual-cooperative",
        "verification": "unverified",
        "notes": null,
        "url": "https://insurers.global/insurers/madagascar-mama-mutuelle-dassurance-malagasy/"
      },
      {
        "slug": "madagascar-ny-havana",
        "name": "Ny Havana",
        "class": "composite",
        "classCode": "C",
        "group": "Government of Madagascar",
        "groupSlug": null,
        "groupType": "state-owned-parastatal",
        "verification": "unverified",
        "notes": null,
        "url": "https://insurers.global/insurers/madagascar-ny-havana/"
      },
      {
        "slug": "madagascar-sanlam-allianz-madagascar",
        "name": "Sanlam Allianz Madagascar",
        "class": "composite",
        "classCode": "C",
        "group": "Sanlam Allianz",
        "groupSlug": "sanlam-allianz",
        "groupType": "pan-african-group",
        "verification": "unverified",
        "notes": null,
        "url": "https://insurers.global/insurers/madagascar-sanlam-allianz-madagascar/"
      }
    ]
  }
}