| Life premium volume (USD) | 11 mn |
|---|---|
| Non-life premium volume (USD) | 41 mn |
| Total premium volume | 52 mn |
| Total premium volume (MGA) | 109 bn |
| Insurance penetration: Premiums in % of GDP | 0.52% |
| Insurance density: Premium / capita USD | 2.47 |
| Local currency | MGA |
| Domestic life insurers | 0 |
|---|---|
| Domestic non-life insurers | 1 |
| Domestic composite insurers | 2 |
| Foreign life insurers | 0 |
| Foreign non-life insurers | 0 |
| Foreign composite insurers | 2 |
| Domestic reinsurers | 0 |
| Foreign reinsurers | 0 |
| State-owned insurers | 2 |
| State-owned reinsurers | 0 |
| Insurance intermediaries | 25 |
| Reinsurance intermediaries | 0 |
| Overarching principle in insurance supervision | Financial supervision |
|---|---|
| Requirement for minimum insurance rates | No |
| Cross-border insurance allowed | No |
| Bancassurance is allowed | Yes |
|---|---|
| Allowed ownership structures | Mutuals |
| Foreign ownership restrictions | No |
| Minimum capital requirement | sociétés dassistance : 100 Millions dAriary sociétés dassurance générale : 600 Millions dAriary sociétés Vie et Capitalisation : 1 Milliard dAriary sociétés dassurance mutuelle : 100 Millions dAriary (fonds détablissement) |
| Minimum paid-up share capital | 0 |
| Requirement for independent audits | Yes |
| Requirement to appoint actuaries | No |
| Premium rate approval needed | No |
| Solvency referred to as the difference between assets and liabilities | Yes |
|---|---|
| RBC (Risk-based capital) principles applied | No |
| Ceded reinsurance is regarded as a permissible asset | Yes |
| Compulsory insurance lines | RC Automobile, Tous risques Chantier et RC Décennale, Facultés à limportation, RC et Accident scolaire et RC professionnelle de la réparation, de la vente et du contrôle de véhicule terrestre à moteur |
| Compulsory reinsurance cessions | No |
| Established guarantee or policyholder protection fund | No |
|---|
