{"id":16249,"date":"2022-06-09T06:49:05","date_gmt":"2022-06-09T06:49:05","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-biggest-insurer-seeks-to-expand-market-share-in-east-africa"},"modified":"2022-06-09T10:56:19","modified_gmt":"2022-06-09T10:56:19","slug":"mauritius-biggest-insurer-seeks-to-expand-market-share-in-east-africa","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-biggest-insurer-seeks-to-expand-market-share-in-east-africa","title":{"rendered":"Mauritius\u2019 Biggest Insurer Seeks to Expand Market Share in East Africa"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>Mauritius\u2019s biggest insurer, having won a $10 million investment from France\u2019s Proparco this month, is aiming for a 10% market share in a number of East African markets after outgrowing its Indian Ocean island home. MUA Ltd.<\/p>\n

, which made acquisitions to bolster its presence on the African mainland in 2014 and 2020, expects most of future growth to come from the East African countries where it operates \u2014 Kenya, Uganda, Rwanda and Tanzania, according to Bertrand Casteres, its chief executive officer.<\/p>\n

<\/a>\u201cMauritius is a tiny stone in the Indian Ocean,\u201d Casteres said in an interview from Port Louis, the capital, on Monday.<\/p>\n

\u201cThe premiums from Africa will get bigger and bigger in the coming years.<\/p>\n

While the sale of a 7.3% stake to Proparco, a unit of the Agence Francaise de Developpement, is likely to help it win market share, it has put further geographical expansion on hold for now, the CEO said.<\/p>\n

\u201cIn the next two or three years our priority, given the investments in East Africa, more than 50% of our equity base, is to create value out of our investments,\u201d Casteres said.<\/p>\n

\u201cWe keep our ears open, our eyes open to see whether there is any other opportunity in another market but that\u2019s not our priority at the moment.<\/p>\n

\u201d MUA bought Phoenix Transafrica Holdings, which had operations in several East African countries, in 2014 and acquired Saham Kenya in 2020.<\/p>\n

MUA now has a market share of 25% in Mauritius, 15% in Rwanda and 3% in Kenya. Because Kenya is a \u201cfragmented market,\u201d MUA may be satisfied with market share of 5%, Casteres said. Casteres will step down in September and remain as a consultant. By then, he said, his replacement will have been named.<\/p>\n

For More News And Analysis About Mauritius<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. Mauritius\u2019s biggest insurer, having won a $10 million investment from France\u2019s Proparco this month, is aiming for a 10% market share in a number of East African markets after outgrowing its Indian Ocean island home. MUA Ltd. , which made acquisitions to bolster its presence on the African mainland in 2014 and […]<\/p>\n","protected":false},"author":84,"featured_media":16248,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,8,16],"tags":[233,245,241],"class_list":["post-16249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mauritius","tag-mauritius"],"yoast_head":"\nMauritius\u2019 Biggest Insurer Seeks to Expand Market Share in East Africa - Mauritius<\/title>\n<meta name=\"description\" content=\"Mauritius\u2019s biggest insurer, having won a $10 million investment from France\u2019s Proparco this month, is aiming for a 10% ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-biggest-insurer-seeks-to-expand-market-share-in-east-africa\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mauritius\u2019 Biggest Insurer Seeks to Expand Market Share in East Africa\" \/>\n<meta property=\"og:description\" content=\"Mauritius\u2019s biggest insurer, having won a $10 million investment from France\u2019s Proparco this month, is aiming for a 10% ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-biggest-insurer-seeks-to-expand-market-share-in-east-africa\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-09T06:49:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-09T10:56:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2022\/06\/postQueueImg_3-62a1d1b967f92.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"580\" \/>\n\t<meta property=\"og:image:height\" content=\"386\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-biggest-insurer-seeks-to-expand-market-share-in-east-africa#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-biggest-insurer-seeks-to-expand-market-share-in-east-africa\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mauritius\u2019 Biggest Insurer Seeks to Expand Market Share in East Africa\",\"datePublished\":\"2022-06-09T06:49:05+00:00\",\"dateModified\":\"2022-06-09T10:56:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-biggest-insurer-seeks-to-expand-market-share-in-east-africa\"},\"wordCount\":301,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-biggest-insurer-seeks-to-expand-market-share-in-east-africa#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2022\/06\/postQueueImg_3-62a1d1b967f92.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mauritius\",\"Mauritius\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-biggest-insurer-seeks-to-expand-market-share-in-east-africa#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-biggest-insurer-seeks-to-expand-market-share-in-east-africa\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-biggest-insurer-seeks-to-expand-market-share-in-east-africa\",\"name\":\"Mauritius\u2019 Biggest Insurer Seeks to Expand Market Share in East Africa - 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