Establish, license, and grow an international insurance broking operation from a globally recognized financial center.
Market Position & Operational Scope
An FSC-issued Insurance Broker Licence allows your firm to operate as an independent intermediary, negotiating and placing commercial or personal risks between clients and licensed insurers or reinsurers.
Governed by the Insurance Act 2005 and the Insurance (Insurance Brokers) Rules 2008, this framework supports multiple categories of business:
Life Insurance Broking
General Insurance Broking
Reinsurance Broking
Whether serving regional corporate clients, structuring high-net-worth risk solutions, or placing international reinsurance, Mauritius offers a transparent, highly respected platform.
Key Financial & Substance Requirements
Operating an insurance brokerage requires strict compliance with FSC solvency, conduct, and client protection rules.
- Capital & Professional Indemnity: Capital requirements as set out in the Insurance Brokers Rules 2008, with full disclosure of source of funds and mandatory Professional Indemnity (PI) insurance cover.
- Segregated Client Accounts: Client money must be kept completely separate from operational funds. Premium accounts are held in dedicated bank accounts to ensure total capital protection.
- Governance & Key Officers: Mandatory roles include a Managing Director or CEO, certified Designated Officers meeting FSC Competency Standards, a Compliance Officer, MLRO/DMLRO, and an FRC/MIPA-approved external auditor.
- Financial Reporting: Ongoing compliance with FSC returns, annual audited statements, and accounting under IFRS 17 standards.
Application Requirements & Technical Checklist
The FSC scrutinizes internal controls, risk management protocols, and commercial agreements before granting a licence.
Essential Application Filings:
- Business Plan: Detailing business classes, target client segments, fee/commission structures, and draft agreements with partner insurers or reinsurers.
- Operational & Compliance Manuals: Formal policies covering AML/CFT, complaint handling, business continuity, disaster recovery, and conflicts of interest.
- Legal Confirmation: Formal legal opinion issued by a Mauritian legal practitioner.
End-to-End Delivery
with Blue Azurite
Obtaining an Insurance Broker Licence requires balancing regulatory precision with operational reality. Blue Azurite handles every phase of the project:
- Licensing & Regulatory Liaison: Complete dossier preparation, FSC submissions, and fee management under current guidelines.
- Corporate Governance Support: Provision of corporate secretarial services, local directorships, and AML/CFT function setups.
- Full Back-Office Administration: Accounting aligned with current reporting standards, tax compliance, and client bank account management.
Launch Your Insurance Broking Operations in Mauritius
Connect with our financial services team to structure your setup and start your licensing application.
Get Started Today :
