Communique – AGOA Extension Bill and Retroactive Application of AGOA Certificates of Origin
23 Jan 2026
The Mauritius International Financial Centre (IFC) has positioned itself as a preferred captive domicile by adopting and offering innovative solutions such as third-party captives. This aligns with the country’s objective of attracting global and regional reinsurers by offering a robust regulatory framework and a stable investment environment. Its business-friendly ecosystem positions Mauritius as a key investment platform between Asia, the Middle East, and Africa.
A key aspect of Mauritius’ appeal lies in its advanced solutions for alternative risk transfer and risk management, particularly through its captive insurance offerings. The 2015 Captive Insurance Act and Captive Insurance Rules 2016 modernised Mauritius’ captive legislation and provided a solid foundation for captive insurance in the country. Recent legislative updates have introduced significant enhancements for the framework for captive insurance business, particularly with the introduction of third-party captives.
The updated Captive Insurance Act now allows for the establishment of five categories of captives: Pure Captives, three classes of Third-Party Captives, and Multi-owner Pure Captives. This expanded framework provides companies with greater flexibility, and also enables their captive insurance companies to cover non-parent exposures.
Following Mauritius’ National 2024/2025 budget announcement and updated legislation, the country now offers broader advantages for all new captive insurers from when they are set up. This underscores the government’s commitment to fostering a competitive environment for captive insurance.
Alongside strengthening the Mauritius IFC through its captive offering, Mauritius is also making progress in becoming a leading reinsurance hub in Africa. In January 2024, the Financial Services Commission (FSC) of Mauritius embarked on an important initiative to revamp its reinsurance framework, aiming to create a regulatory environment attractive to both domestic and international reinsurers by leveraging Mauritius’ reputation for stability as well as its investment-grade sovereign rating from Moody’s.
Krishna Bheenick, Managing Director – Mauritius at Africa Specialty Risks, a leading provider of captive solutions, commented on the positive impact of these legislative changes: “The latest changes in the Captive Insurance Act and corresponding rules are a significant contribution to the Mauritius IFC. Companies can now envisage setting up their captives in Mauritius to manage their own risks, with the flexibility to also write non-parent exposures.”
He went on to say “ASR Captive Solutions includes services to establish, manage, and administer captives. Their underwriting team offers underwriting and pricing experience, and their in-house actuarial team provides expertise in reserving, capital modelling, and IFRS 17 reporting. Additionally, ASR supports captives with governance, risk management, and regulatory reporting, ensuring that captives operate efficiently and in compliance with local regulations.”
In conclusion, the legislative changes in Mauritius’ captive insurance sector are poised to significantly enhance and strengthen the Mauritius IFC. By offering a stable and favourable regulatory environment, coupled with substantial fiscal incentives, Mauritius is well-positioned to attract a diverse array of insurers, reinsurers and businesses. This will create a dynamic and attractive ecosystem for both local and international stakeholders and solidify the Mauritius IFC’s status as a leading destination for international financial services.
