Phoenix Insurance Mauritius

What Phoenix Insurance Mauritius does

Phoenix Insurance (Mauritius) Limited is a private general insurance carrier domiciled in Mauritius that underwrites motor, travel, traders combined, household, marine cargo, contractors all risk, hull, children health, fire and allied perils, and miscellaneous lines (personal accident, workmen compensation, cash in transit, public liability). It distributes these products through a multi-channel architecture comprising 25 physical branches across Mauritius and Rodrigues, 22 accredited insurance agents, the viphub.phoenixins.mu self-service online portal, and direct corporate sales outreach, serving individual and commercial customers with a portfolio of more than 135,000 policyholders.

The company's product architecture pairs ten core insurance lines with nine value-added services (claims settlement in cash, 5-year warranty cover, accidental medical cover, road assistance, replacement vehicle, 24/7 customer care, critical illness cover, car-to-car replacement benefit, and ladies driver facial plastic surgery) bundled free with motor policies. Underwriting capacity is supported by a multi-jurisdictional reinsurance panel that includes General Insurance Corporation of India, Kenya Re, Africa Re, ZEP-RE, East Africa Re, and Asian Re. The core technology stack is a policy administration and online quotation/renewal system, with motor as the lead product line.

Revenue is generated primarily through recurring annual insurance premiums across consumer and commercial customers, with no public revenue disclosure and pricing provided by quotation rather than published rate cards. The company is privately held, has been operating under the Phoenix Insurance brand since the 2010 re-branding, and was actively adding branches as recently as mid-2022, with four locations opened that calendar year.

Name

Phoenix Insurance Mauritius

Legal name

Phoenix Insurance (Mauritius) Limited

Website

https://phoenixins.mu

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Phoenix Insurance (Mauritius) Limited is a private general insurance carrier underwriting motor and non-motor lines for over 135,000 individual and commercial policyholders across Mauritius and Rodrigues via 25 branches, 22 accredited agents, and an online portal.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Direct Health and Medical Insurance Carriers (524114)

SIC

Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Commercial Package / Business Owners Policies (BOP) (FSAJAMAG)

akta.pro secondary industries

Mid-Market Commercial Package (Package Policies) (FSAJAFAB), International/Expat Critical Illness & Hospital Indemnity (FSAIAKAJ)

Keywords

• General insurance products
• Motor insurance coverage
• Marine cargo insurance
• Household insurance policies
• Commercial insurance lines

Headquarters

HQ city

Port Louis

HQ country

Mauritius

HQ region

Africa

Offices23 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Supply Chain, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premium Revenue: Phoenix Insurance generates revenue through collecting insurance premiums from policyholders across various insurance product lines including motor, travel, household, marine, contractors all risk, hull, children health, fire and allied perils, and other insurance policies.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Phoenix Insurance Mauritius sells a diversified portfolio of general insurance products — including motor, travel, household, marine cargo, hull, contractors all risk, children health, fire & allied, and traders combined policies — to individuals and businesses across Mauritius and Rodrigues. Policies are distributed through 25 branches, 22 accredited agents, and an online portal (viphub.phoenixins.mu), and are bundled with value-added services such as road assistance, 5-year warranty cover, on-the-spot cash claim settlement, and 24/7 customer care.

Product overview

Phoenix Insurance (Mauritius) Limited operates as a diversified insurance company offering a comprehensive portfolio of core insurance products complemented by value-added services. The core product portfolio consists of ten distinct insurance categories: Motor Insurance Policy (the company's primary product covering all vehicle types), Travel Policy, Traders Combined Policy, Household Insurance Policy, Marine Policy, Contractors All Risk Policy, Hull Policy, Children Health Policy, Fire & Allied Policy, and Other Policies (including Personal Accident, Workmen Compensation, Cash in Transit, and Public Liability). These core products are supplemented by a suite of nine value-added services provided free to motor insurance customers, including Claims Settlement in Cash, 5 Year Warranty Cover, Accidental Medical Cover, Road Assistance, Replacement Vehicle, 24/7 Customer Care, Critical Illness Cover, Car to Car Replacement Benefit, and Ladies Driver Facial Plastic Surgery. The company serves over 135,000 customers through a network of 22+ branches and 22 accredited agents across Mauritius and Rodrigues. The product architecture follows a modular approach where core insurance products serve as standalone offerings while value additions are bundled primarily with motor insurance as customer incentives.

Differentiator

Problem solved

Functional benefit

Products and services

• Motor Insurance Policy Primary vehicle insurance product covering private cars, vans, lorries, motorcycles, buses, and taxis with comprehensive and third-party coverage options for individuals and businesses in Mauritius.
• Travel Policy Insurance coverage for travel-related risks including trip cancellations, medical emergencies, and lost baggage for individual travelers going abroad or domestically.
• Traders Combined Policy Combined insurance product designed for traders and merchants covering business-related risks faced by retail and trading businesses.
• Household Insurance Policy Insurance coverage for residential properties and household contents against specified risks such as fire, theft, and allied perils, for homeowners and renters.
• Marine Policy Marine cargo insurance covering goods in transit by sea, air, or land transportation for shipping companies, vessel owners, and cargo handlers.
• Contractors All Risk Policy Comprehensive insurance coverage for construction projects covering contractors, materials, and third-party liabilities for construction and contracting businesses.
• Hull Policy Insurance coverage for watercraft vessels and boats against physical damage, for vessel owners and marine operators.
• Children Health Policy Health insurance coverage specifically designed for children including medical and critical illness protection for parents and guardians.
• Fire & Allied Policy Insurance coverage against fire damage and allied perils including lightning, explosion, and smoke damage for residential and commercial properties.
• Other Policies Additional insurance products including Personal Accident, Workmen Compensation, Cash in Transit, and Public Liability coverage for individuals and businesses.

Quantifiable outcome

• 135,000+ customers served
• +1 more outcomes

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core.

• General Insurance Corporation of IndiacoreOthersReinsurance partner providing reinsurance capacity and risk transfer services to Phoenix Insurance Mauritius for its various insurance portfolios.
• Kenya Reinsurance CorporationcoreOthersReinsurance partner based in Nairobi, Kenya providing reinsurance coverage and risk management support to Phoenix Insurance.
• African Reinsurance Corporation (Africa Re)coreOthersAfrican Reinsurance Corporation based in Mauritius providing continent-specific reinsurance solutions and risk expertise to Phoenix Insurance.
• ZEP-RE (PTA Reinsurance Company)coreOthersPTA Reinsurance Company based in Kenya providing reinsurance capacity for Phoenix Insurance's African risk portfolios.
• East Africa Reinsurance Company LimitedcoreOthersKenya-based reinsurance provider offering treaty and facultative reinsurance solutions to Phoenix Insurance.
• Asian Reinsurance CorporationcoreOthersReinsurance partner based in Bangkok, Thailand providing Asian market reinsurance expertise and capacity to Phoenix Insurance.

Scale indicators4 records

Recent moves12 records

Expansion highlights5 records

Direct peers

• Mauritius Union Assurance (MUA): Mauritius Union Assurance is one of the longest-established composite insurers in Mauritius, offering motor, property, marine, life and health coverage to individuals and corporates. It competes head-to-head with Phoenix Insurance across essentially the same product set on the same island market.
• Swan Insurance Company Limited: Swan Insurance is a Mauritian general and life insurer offering motor, fire, marine, liability and personal accident cover. It is a directly comparable domestic carrier competing with Phoenix in the same segments and channels.
• Sun Insurance Office Limited: Sun Insurance is a Mauritius-licensed general insurer offering motor, fire, marine and liability cover to individuals and SMEs. It operates in the same product categories and same Mauritian market as Phoenix Insurance.
• Anglo-Mauritius Assurance Society: Anglo-Mauritius Assurance Society is a long-standing Mauritian composite insurer offering motor, fire, marine, life and pension products. It is a domestic peer with overlapping coverage of the same Mauritian customer segments as Phoenix Insurance.
• National Insurance Company of Mauritius (NIC): NIC is a Mauritian general insurance carrier underwriting motor, fire, marine and engineering risks on the island. It is a direct competitor to Phoenix in the Mauritian P&C market.
• SICOM (State Insurance Company of Mauritius): SICOM is the state-owned Mauritian insurer providing motor, household, life and pension products across the island. As a domestic peer with comparable products and branch reach, it is a directly competing carrier to Phoenix Insurance.

Broad incumbents

• Allianz Insurance Mauritius: Allianz Insurance Mauritius is the local operation of Allianz Group, providing motor, property, marine and personal lines on the island. It is a global incumbent competing with Phoenix for the same Mauritian customers with the backing of a worldwide brand.
• AXA Insurance Mauritius: AXA Insurance Mauritius is the local arm of the global AXA Group offering motor, property, health and life products across the island. As a multinational incumbent, it competes broadly with Phoenix but benefits from larger scale, international brand and broader product portfolio.

Others

• MCB Life / MCB Group insurance offerings: MCB Group offers insurance products including life and general cover via its banking subsidiaries on the island. It is an adjacent financial-services peer with overlapping distribution channels serving the same Mauritian market as Phoenix.
• SBM Bank (Mauritius) — Insurance arm: SBM Bank, one of Mauritius' largest banks, distributes insurance products (including motor and household cover) through its branch network. It is an adjacent distribution competitor reaching the same Mauritian customer base but through a banking channel.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/phoenixinsmauritius

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Phoenix Insurance Mauritius