Credit Guarantee Insurance Co. Ltd

What Credit Guarantee Insurance Co. Ltd does

Credit Guarantee Insurance Co. Ltd (CGI) is the first specialist credit insurer in Mauritius, incorporated in February 2009 and headquartered at 2nd Floor, Cavell House, 36 Bis Edith Cavell Street, Port Louis. The company is jointly owned by Prudence Holding Ltd (60%) and The Mauritius Commercial Bank Ltd (40%), combining strategic capital backing with a major local banking distribution channel. CGI provides credit insurance protection to policyholders against non-payment of debts owed by their customers for goods or services supplied on credit terms, both domestically and for export transactions.

CGI's product portfolio comprises two core offerings: the Trader Policy, a credit insurance product designed for businesses with annual turnover exceeding Rs 20 million that provides comprehensive cover for insolvency and default on domestic and foreign buyer credit; and Business Information Reports, which deliver creditworthiness and corporate-background assessments compiled from registries, balance sheets, press, and field interviews across a network of 150 countries. Underwriting is supported by reinsurance programs with European companies rated minimum A by A.M. Best, providing catastrophic-loss protection, and by agreements with top-rated global recovery firms.

CGI generates revenue through recurring credit insurance premiums charged to policyholders, supplemented by information-report fees. Distribution is conducted via direct sales and relationship management targeting mid-market and larger enterprises in Mauritius engaged in domestic and export trade. The underwriting team assesses approximately 5,000 buyers annually, issues more than 10,000 credit limits yearly, and insures roughly Rs 40 billion in customer turnover (projected to reach Rs 45 billion). CGI services more than 100 clients including Grays, Harel Mallac, PNL, and Innodis. The operation runs with a small team of nine employees, reflecting a focused specialist model rather than scale-driven underwriting.

Name

Credit Guarantee Insurance Co. Ltd

Legal name

Credit Guarantee Insurance Co. Ltd

Website

https://cgi.mu

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1–10 employees

Short description

Credit Guarantee Insurance Co. Ltd (CGI), founded in 2009, is Mauritius' first specialist credit insurer, providing the Trader Policy credit insurance product and Business Information Reports to over 100 enterprise clients engaged in domestic and export trade.

Ownership category

akta.pro rank

Product category

Credit Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Trade Credit Insurance Brokerage (FSAEADAL)

akta.pro secondary industry

Commercial Lines Insurance Brokerage (FSAEADAB)

Keywords

• Credit insurance
• Trade credit insurance
• Insolvency cover
• Bad debt protection
• Business credit reports

Headquarters

HQ city

Port Louis

HQ country

Mauritius

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Others, Marketing or Sales

Revenue model

1. Credit Insurance Premiums: CGI generates revenue through credit insurance premiums charged to policyholders (businesses) for coverage against non-payment of debts by their customers. The insurance protects businesses supplying goods or services on credit terms in both domestic and export markets.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

CGI provides credit insurance to businesses that supply goods or services on credit terms to domestic and foreign buyers, protecting them against the risk of customer non-payment. Its main product, the Trader Policy, is designed for companies with annual turnover above Rs 20 million and offers comprehensive cover for Insolvency and Default. The company also produces Business Information Reports covering company credit data and creditworthiness assessments across 150 countries.

Product overview

CGI (Credit Guarantee Insurance Co. Ltd) is the first specialist credit insurer in Mauritius offering a dual-product portfolio centered on credit risk management. The core offering is the Trader Policy, a credit insurance product that protects businesses against non-payment of debts from customers for goods or services provided on credit terms. This is complemented by Business Information Reports that provide creditworthiness and financial health assessments of customers, suppliers, and business prospects across 150 countries. The two products work together as an integrated risk management solution: the Business Information Reports enable informed credit decisions, while the Trader Policy provides ongoing protection against buyer insolvency and default.

Differentiator

Problem solved

Functional benefit

Products and services

• Trader Policy (Credit Insurance) Credit insurance policy for businesses supplying goods or services on credit to domestic and foreign buyers. Designed for companies with annual turnover exceeding Rs 20 million, offering comprehensive cover for Insolvency and Default to protect policyholders against the risk of customer non-payment.
• Business Information Reports Company credit and status reports providing information on potential business connections, including basic company data, financial information, background and history, banker details, and creditworthiness assessments. Coverage spans 150 countries including the Indian Ocean region and main countries of export.

Quantifiable outcome

• Protects approximately Rs 40 billion worth of turnover for customers
• +2 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• European Reinsurers (A.M. Best rated minimum A)coreStrategic or Co-development PartnerCGI's reinsurers are solely European companies rated minimum A by A.M. Best, providing catastrophic loss protection through different levels of reinsurance programs.
• Top Rated Recovery FirmscoreStrategic or Co-development PartnerCGI has agreements with top-rated recovery firms worldwide to handle debt recovery in cases of default by insured buyers.
• Credit Guarantee Services Co LtdcoreStrategic or Co-development PartnerProvides Business Information Reports with a network across 150 countries including Indian Ocean and main countries of export. Compiles comprehensive company credit reports from in-house database, Company Registry records, Balance sheets, Press reports, trade sources and field interviews.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Atradius: Dutch-headquartered global trade credit insurer owned by Grupo Catalana Occidente. Direct peer offering the same credit insurance product to similar B2B exporter clients across Europe, the Americas, and Asia.
• Allianz Trade (formerly Euler Hermes): World's largest trade credit insurer, part of Allianz Group. Directly comparable as a global credit insurance specialist; CGI's Managing Director previously held a credit risk management role here, indicating direct knowledge of the competitive benchmark.
• Credendo: Belgian-headquartered specialist trade credit insurer with European government shareholders. Directly comparable to CGI as a focused credit insurance underwriter; notably listed as a partner in CGI's data, making it both an ally and potential competitor in African and Indian Ocean markets.
• Coface: French-headquartered global trade credit insurance carrier serving 200+ countries. A direct peer — same product (trade credit insurance), same customer base (exporters and B2B sellers), and operates in Africa where CGI is seeking to expand.

Broad incumbents

• Aon: Global insurance brokerage and risk advisory firm with significant credit and political risk practice. Broad incumbent — does not underwrite credit insurance directly but competes for the same client mandates and can disintermediate specialty insurers like CGI.
• Swiss Re: Global reinsurance giant that provides capital to specialty insurers including credit insurance carriers. Broad incumbent relevant because Swiss Re is one of the European reinsurers that could sit behind CGI's reinsurance program — and at scale could choose to write credit insurance directly.
• Marsh: Global insurance brokerage and risk advisory firm (part of Marsh McLennan). Broad incumbent offering trade credit insurance placement alongside a much wider portfolio — competes indirectly for the same buyer-side insurance budgets as CGI's policyholders.
• Zurich Insurance Group: Global multi-line insurer with a commercial P&C book that includes trade credit and surety coverage. Broad incumbent — competes for the same commercial accounts in Mauritius and globally, but credit insurance is one of many lines rather than a specialty focus.

Regional players

• African Export-Import Bank (Afreximbank): Pan-African multilateral trade finance institution providing credit facilities, guarantees, and insurance support across Africa. Comparable as an enabler of African trade credit risk management but operates as a development institution rather than a private specialty insurer.
• African Trade Insurance Agency (ATI): Multilateral political-risk and trade credit insurer focused on African trade and investment, backed by African governments and development finance institutions. Regional peer — comparable product (trade credit insurance) but pan-African scope and public-mandate structure differ from CGI's private Mauritian focus.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/credit-guarantee-insurance-co-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 Credit Guarantee Insurance Co. Ltd