Mauritius's Financial Sector Grew Strongly In 2014
by Jason Gorringe, Lowtax.net, London
09 December, 2015
Mauritius's Financial Services Commission has released its Annual Statistical Bulletin, including data on the performance of the financial services sector in 2014.
The total assets of the financial services sector (excluding companies holding a Category 1 Global Business License) rose from MUR27bn (USD750m) in 2013 to MUR30bn, an increase of 11 percent. The sector's income was up eight percent and profits after tax rose from MUR937m in 2013 to MUR1.05bn.
Corporate and trust services providers' total assets grew to USD193m in 2014, an increase of seven percent. Management companies meanwhile saw assets grow by eight percent to USD210m and they reported a combined profit of USD2.2m, up from USD1.9m in 2013.
Gross premiums received for long-term insurance business grew by eight percent and there was a marginal increase of about 0.5 percent for general insurance business.
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