One of the fastest growing areas in the insurance sector is the formation of a captive insurance company. Indeed, many companies are turning towards the creation of a captive to self-insure their risks and avoid extra cost that insurers charged. A captive is an insurance company formed to insure or reinsure the risks of its parent and affiliated entities within its group. One of the key functions of a captive is to facilitate the efficient financing of risk within the group and therefore serves as a sophisticated in-house risk carrier.

Key Features

Mauritius Captive Insurance

Corporate Details

General

  • Type of Entity

Insurance Company

  • Registered Office in Seychelles

Yes

  • Shelf company availability

Yes

  • Our time to establish a new company

1 Business Day

  • Corporate Taxation

3%

  • Access to Double Taxation Treaties

No

Share capital or equivalent

  • Standard currency

USD (local currency)

  • Permitted currencies

Any

  • Minimum paid up

No minimum

  • Usual authorized

US$ 835,000

  • Bearer shares allowed

Yes (but required to be immobilized by the registered agent)

  • No par value shares allowed

Yes

Directors

  • Minimum number

2

  • Local required

Yes

  • Publicly accessible records

No

Shareholders

  • Minimum number

One

  • Publicly accessible records

No

Company Secretary

  • Required

1

  • Local or qualified

Yes

Accounts

  • Requirements to prepare

Yes

  • Audit requirements

Yes

  • Requirements to file accounts
Yes

Advantages

  1. Cash flow is enhanced as an organization can time premium payments to fit in with its own cash flow situation.
  2. Captive insurance allows organizations direct access to the reinsurance market.
  3. Through direct access to the reinsurance market; over time, successful underwriting creates surplus in the captive, enabling the parent to increase retentions lowering its dependency on reinsurance.
  4. Enjoy the benefit of purchasing particular coverage's that are unavailable or unacceptably priced in the commercial insurance market.
  5. The captive earns investment income on premiums and capital during the period over which losses are paid out.

The Valsen Advantage

  • Speedy, Efficient and consistent Services.
  • Relentless effort to obtain bank accounts.
  • Expert advice on structuring options.
  • Dedicated ongoing compliance support.

Insurance Licenses