Government mobilised to safeguard Mauritius’ standing as a trusted IFC

GIS – 18 March 2026: Government, regulatory bodies, and industry stakeholders are fully mobilised to uphold the highest standards of compliance and governance, and to reinforce the credibility and global standing of Mauritius as a trusted International Financial Centre (IFC), stated the Minister of Financial Services and Economic Planning, Dr (Mrs) Jyoti Jeetun. She was speaking today at the 53 rd Annual General Meeting of the Insurers Association of Mauritius (IAM), held at the Hennessy Park Hotel in Ebène. The Chairperson of IAM, Mr Naresh Gokulsing; the Secretary General of IAM, Mr Vashish Ramkhalawon; and key stakeholders of the insurance industry, were also present. In her address, Dr Jeetun underscored that safeguarding the reputation and integrity of Mauritius’ financial sector remains non-negotiable with the Mutual Evaluation coming up in 2027. She highlighted the growing global uncertainty, noting that existing pressures from climate change, trade tensions, and geopolitical fragmentation have been exacerbated by heightened regional volatility linked to the war in Iran and the broader Middle East situation. In this context, she stressed the urgent need to strengthen the resilience and future readiness of the insurance sector. The Minister recalled that the insurance sector remains a key pillar of the Mauritian economy, contributing approximately 1.6% to GDP and employing around 3,000 people. While the sector recorded a solid growth of about 7% in 2025, she noted that the ongoing conflict in Iran is reshaping the economic outlook and presenting new challenges. Dr Jeetun also outlined strategic avenues to further boost the sector including regional expansion and the development of innovative insurance products to address emerging risks, which can unlock new growth opportunities. She emphasised that building a more sophisticated insurance ecosystem supported by a highly skilled workforce is essential to ensuring long-term resilience. In this regard, she emphasised the importance of continuous training and upskilling, highlighting the role of the Financial Services Institute in addressing skills gaps and supporting the sector’s evolution. The Minister further underlined the significance of the financial services and insurance sector within the ongoing Vision 2050 consultations. She reaffirmed that Mauritius must continue to position itself as a competitive International Financial Centre by deepening its financial offerings, leveraging technological innovation, and expanding into regional markets, particularly in Africa and Asia. She reiterated the Government’s full support to the insurance industry in building a strong and sustainable sector. IAM’s Chairperson, for his part, called for accelerated adoption of technology and innovation to further strengthen the industry. He reaffirmed IAM’s commitment in fostering an insurance industry that plays an even greater role in driving national development while safeguarding the country’s social fabric.

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Topics: Finance