CSBF register: licensed insurers in Madagascar

VerifiedVerified against the CSBF register, checked 2 Sept 2026.

The CSBF register for Madagascar as the directory holds it: 5 licensed insurers with the identifiers the register carries, ready to export as JSON.

5Licensed operators

0Life0% of entities

0General (non-life)0% of entities

2Cross-border groups3 domestically owned

By class of business

C Composite4 80%
U Not stated in register1 20%

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

State-owned / parastatal2 40%
Mutual / cooperative1 20%
Pan-African group1 20%
Foreign multinational1 20%

“Cross-border groups” counts foreign multinationals and pan-regional groups; “domestically owned” counts domestic private, state-owned, mutual and captive entities. The register records the parent’s type, not its home market. How ownership is recorded

CSBF register rows

All 5 entities.

Insurer	Class	Register id	LEI	Registered	Website	Verification
Allianz Madagascar	UNot stated in register	—	—	—	—	Verified
Sanlam Allianz Madagascar	CComposite	—	—	—	—	Verified
ARO (Assurances Reassurances Omnibranches)	CComposite	—	—	—	—	Verified
MAMA (Mutuelle d'Assurance Malagasy)	CComposite	—	—	—	—	Verified
Ny Havana	CComposite	—	—	—	—	Verified

Full table for Madagascar ↗

Regulatory intelligence: Madagascar

Read from the register, not written for this page: the supervisor’s regime, the source the list was checked against, and the market notes recorded alongside it.

Supervisor: Commission de Supervision Bancaire et Financiere / Ministry of Finance CSBF
Regime: Loi 2020-005 sur les assurances, which replaced the 1999 Code des assurances; supervision moved to the CSBF; non-CIMA francophone market
Register source: 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.
Verification: Verified against the regulator 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.
Profile: MEF / insurance control — mandate, law and metrics

No market event is recorded against this register for 2026. The regime and source above are the standing facts.

Governing legislation

Insurance Code: Law 99-013 of 2 August 1999 · Institutional and insurance framework
The code assigns insurance control to the responsible service within the Ministry of Finance, covering insurers and intermediaries. This statutory insurance role must not be conflated with banking supervision.

Verification log

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.

For B2B teams and AI agents

The same rows as static JSON, no key, CORS open, CC BY 4.0. Paged files stay under 96 KB so an agent’s fetch tool never truncates them.

curl -s https://insurers.global/api/v1/countries/madagascar.json
curl -s https://insurers.global/api/v1/countries/madagascar/insurers/pages/1.json

MCP: connect https://insurers.global/mcp and call get_country_summary with { "country": "madagascar" }, or list_insurers with country, limit and offset for paged rows.
OpenAPI 3.1: /api/v1/openapi.json · WebMCP: /.well-known/webmcp.json · Guide: /ai/ · llms.txt
Dataset version 2026-09-08+3f3925fad259; every response carries version, verified and licence.

Snapshot