Indian Ocean · MG · MGA
Madagascar
Madagasikara
5 licensed entities supervised by the Commission de Supervision Bancaire et Financiere / Ministry of Finance.
- Listed insurers
- 5
- Insurance classes
- 2
- Groups present
- 2
A sense of place
Beyond the numbers.
Heritage, places of work and the landscapes that connect them. Three selected references behind this artistic portrait.
Local names, languages & illustration notes
Selected local names and languages, with links to the references behind this artistic composition.
Madagascar
- French
- Madagascar
- Malagasy
- Madagasikara
Name reference: mledoze/countries · ODbL data · ODbL licence. Flag artwork: flag-icons · MIT.
By class of business
Each company is counted once, under the class its register row records. The supervisor’s own tally counts licences, so a company licensed for more than one class appears more than once there.
By ownership
Verification log
Verified - full register · CSBF (Commission de Supervision Bancaire et Financiere), hosted by Banky Foiben'i Madagasikara: 'LISTE DES ENTREPRISES D'ASSURANCE OU DE REASSURANCE AGREEES' under Stabilite financiere > Supervision micro-prudentielle > Prestataires de services d'assurance (PSA). The page states 'Le nombre d'entreprises d'assurance ou de reassurance agreees : 5' and gives each licensee's arrete of approval. Retrieved verbatim 23 Sep 2026 from the site's own WordPress REST endpoint (the site is an Angular SPA; /admin/wp-json/bfm/page?url=<route> returns the page content). The companion page 'Coordonnees des entreprises d'assurance ou de reassurance' gives each licensee's chief executive and registered address, and 'Intermediaires d'assurance ou de reassurance' (26 agents and brokers) was retrieved as well and excluded as intermediaries.
Reconciled against the CSBF list of licensed insurance and reinsurance companies published by Banky Foiben'i Madagasikara (5 agreees), retrieved 23 Sep 2026. All four rows matched; Allianz Madagascar added, which the CSBF lists as a licensee separate from Sanlam Assurances. The CSBF page carries no as-of date and gives no licence class, so classes are unchanged and the added row is unclassified.
Licensed insurers in Madagascar
Scroll horizontally to compare columns.
| Company | Class | Parent / group | Ownership | Regulator | Verification | Popularity |
|---|---|---|---|---|---|---|
| ARO (Assurances Reassurances Omnibranches)State-owned Market leader; Registered as Assurances-Reassurances Omnibranches (ARO) | CComposite | Government / private | State-owned / parastatal | CSBF | Verified | — |
| MAMA (Mutuelle d'Assurance Malagasy) Registered as Mutuelle d'Assurance Malagasy (MAMA) | CComposite | Mutual | Mutual / cooperative | CSBF | Verified | — |
| Ny HavanaState-owned Registered as Compagnie Malgache d'Assurance et de Reassurance NY HAVANA (CMAR NY HAVANA) | CComposite | Government of Madagascar | State-owned / parastatal | CSBF | Verified | — |
| Sanlam Allianz Madagascar Registered as SANLAM Assurances (ex SAHAM) | CComposite | Sanlam AllianzIAIG | Pan-African group | CSBF | 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. | UNot stated in register | AllianzIAIG | Foreign multinational | CSBF | 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
Indian Ocean
