𝐍𝐘 𝐇𝐀𝐕𝐀𝐍𝐀

What 𝐍𝐘 𝐇𝐀𝐕𝐀𝐍𝐀 does

NY HAVANA, legally Compagnie Malgache d'Assurances et de Réassurance NY HAVANA, is Madagascar's first domestic insurance and reinsurance company, founded on 11 October 1968 at the initiative of the Malagasy Government and foreign insurance representations. It underwrites a comprehensive portfolio across mandatory, imposed, and indispensable insurance categories, including auto/motorcycle, travel, all-risk construction and decennial liability, multi-risk (fire, lightning, theft, water damage, cyclone), school, complementary retirement, deferred capital, death and disability, civil liability, and goods stock coverage. It also accepts reinsurance from cedant companies. The Malagasy State holds 47% of capital, with the balance distributed among financial institutions, national corporates, personnel, and general agencies; current stated capital is 10.7 billion Ariary.

The company operates a traditional, agency-driven distribution model across the entirety of Madagascar through 5 General Agencies, 24 Central Agencies, and partner general agencies (Assurances Union, Paositra Malagasy, AG Samass, AG Avenir), supported by a stated workforce of 333 agents. Revenue is generated primarily through recurring insurance premiums (subscription model) and reinsurance cessions, with quote-based pricing across most product lines and a complementary retirement product priced at a minimum monthly contribution of 5,000 Ariary. Customer segments span individuals/families, businesses/enterprises, government organizations, NGOs, and financial entities. Leadership is anchored by General Director Nanjatiana RAZAKAMANANA. No proprietary technology platform, AI/ML capability, or app-based distribution channel is disclosed; the website (nyhavana.mg) and Facebook page serve informational and brand-awareness functions only.

Name

𝐍𝐘 𝐇𝐀𝐕𝐀𝐍𝐀

Legal name

Compagnie Malgache d'Assurances et de Réassurance NY HAVANA

Website

https://nyhavana.mg

Company type

Private

Founded year

1968

Operating status

Operating

Headcount range

51–100 employees

Short description

NY HAVANA is Madagascar's first domestic insurance and reinsurance company (founded 1968), offering auto, multi-risk, construction, retirement, and life products to individuals, enterprises, government, NGOs, and financial entities through 29 nationwide agencies and 333 agents.

Ownership category

akta.pro rank

Product category

Insurance and Reinsurance

NAICS

Insurance Carriers (5241), Direct Life, Health, and Medical Insurance Carriers (52411), Reinsurance Carriers (524130), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Insurance Carriers, Nec (6399), Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321), Life Insurance (6311)

akta.pro primary industry

Health & Accident Treaty Reinsurance (FSAOAEAB)

akta.pro secondary industries

Life Treaty Reinsurance (FSAOAEAA), Casualty Treaty Reinsurance (FSAOAEAD), Facultative Life Reinsurance (FSAOAFAJ)

Keywords

• Insurance services
• Reinsurance services
• Motor vehicle insurance
• Retirement savings
• Commercial multirisk insurance

Headquarters

HQ city

Antananarivo

HQ country

Madagascar

Offices21 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Insurance Premiums: Collection of insurance premiums from policyholders across multiple insurance categories including auto, retirement, multirisque, and other coverage types.
2. Reinsurance: As a reinsurance company, NY HAVANA provides reinsurance services to other insurers, accepting portions of risk portfolios from cedant companies.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

NY HAVANA provides a comprehensive range of insurance and reinsurance products to individuals, businesses, and government organizations in Madagascar. Its offering spans mandatory motor vehicle insurance, travel insurance, construction/decennial insurance, multirisque business coverage, school insurance, complementary retirement insurance, civil liability, death and disability, and goods stock insurance. The company also underwrites reinsurance risks ceded by other insurers, generating premium income from both direct policyholders and cedant companies.

Product overview

NY HAVANA is a Malagasy insurance and reinsurance company offering a comprehensive portfolio of insurance products structured across mandatory (obligatoire), imposed (imposées), and indispensable categories. The core offerings include auto/motorcycle insurance, travel insurance, construction and decennial insurance, multi-risk insurance, school insurance, complementary retirement insurance, deferred capital insurance, death and disability insurance, civil liability insurance, and goods stock insurance. The company operates as a traditional insurance provider with products designed for both individuals (retirement planning, vehicle coverage, personal protection) and enterprises (construction coverage, business asset protection). Products are distributed through an extensive network of 24 central agencies and 5 general agencies across Madagascar.

Differentiator

Problem solved

Functional benefit

Products and services

• Assurance Auto (Mandatory Motor Insurance)

Named customers3 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor.

• OMDAminorGTM or Marketing Partner · 12 February 2026NY HAVANA signed a partnership with OMDA (Malagasy Artists Organization) on February 12, 2026 during a general assembly held at Havoria Anosy. The partnership offers Malagasy artists benefits including car and motorcycle insurance coverage, drone insurance, and other protective offerings. OMDA represents artists and creators across Madagascar.
• Tily eto madagascarminorStrategic or Co-development Partner · 20 November 2025NY HAVANA met with Tily eto madagascar (Malagasy scouts organization) representatives at the company headquarters to discuss a partnership serving Malagasy youth. The collaboration aims for better protection of young scouts, reinforced educational actions, and joint projects benefiting families and communities.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Sanlam: Sanlam is a leading South African financial services group with insurance and investment operations across Africa. Comparable to NY HAVANA as a broad African incumbent offering life, retirement, and general insurance products with significantly larger scale.
• Allianz Africa: Allianz operates insurance businesses across multiple African markets, offering life, P&C, and health products. Comparable to NY HAVANA as a global incumbent with African multi-line insurance operations and broader capital base.
• Old Mutual: Old Mutual is a major African financial services group offering life, savings, and investment products across multiple markets. Comparable to NY HAVANA as a broad incumbent in African insurance with deeper capital and product breadth.
• AXA Africa (AXA Madagascar): AXA operates insurance businesses across Africa including in Madagascar, offering broad life and non-life coverage. Comparable to NY HAVANA as a large incumbent multi-line insurer with broader geographic reach and product depth.

Direct peers

• African Reinsurance Corporation (Africa Re): Africa Re is the leading Pan-African reinsurer, headquartered in Lagos, Nigeria, providing treaty and facultative reinsurance across the continent. Comparable to NY HAVANA's reinsurance operations as a competitor for cedant relationships and reinsurance capacity.
• Continental Reinsurance: Continental Re is a Pan-African reinsurer providing treaty and facultative reinsurance across multiple African markets. Comparable to NY HAVANA on the reinsurance side of the business and as a competitor for cedant relationships across Africa.
• ARO Madagascar: Compagnie d'Assurances et de Réassurances de l'Océan Indien (ARO) is one of the leading multi-line insurance and reinsurance companies operating in Madagascar, directly competing with NY HAVANA across personal and commercial lines in the same domestic market.

Regional players

• Britam Holdings: Britam is a leading East African diversified financial services group offering life, general insurance, and asset management. Comparable to NY HAVANA as a multi-line insurance competitor in African emerging markets with similar product mix and customer segments.
• SAHAM Assurance (SUNU Group): SUNU Group (formerly SAHAM Assurance) is a leading multi-line insurance group operating across francophone and anglophone Africa. Comparable to NY HAVANA as a multi-line insurance competitor in broader African markets with similar product breadth.
• NSIA Assurances: NSIA is a major West and Central African insurance group offering life and non-life products across multiple francophone markets. Comparable to NY HAVANA as a multi-line insurance competitor across similar African geographies and customer segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/assurancenyhavana
• LinkedInlinkedin.com/company/nyhavana

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 𝐍𝐘 𝐇𝐀𝐕𝐀𝐍𝐀