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ARTICLE · 21 NOVEMBER 2022

Taking Insurance A Step Higher: Structured Investment - Linked Insurance Business

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In line with the budgetary measures which were announced for 2020-2021, the Insurance Act 2005 (Insurance Act) was amended on 02 August 2022 with a view to further enhancing competitiveness...

MauritiusInsurance
Suhaylah Juman
Suhaylah Juman
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In line with the budgetary measures which were announced for 2020-2021, the Insurance Act 2005 (Insurance Act) was amended on 02 August 2022 with a view to further enhancing competitiveness of the financial services sector. Thus, a legal framework has now been established to enable the operation of Structured Investment-Linked Insurance Business (SILIB) activities under the long-term insurance business category.

In brief, the SILIB is an investment concept which combines the protection of an insurance policy with wealth management and succession planning in accordance with the legal and tax rules applicable in the policyholder's country of residence.

The introduction of SILIB is aligned with the vision of the Financial Services Commission (FSC) to be an internationally recognised financial supervisor committed to the sustained development of Mauritius as a sound and competitive financial services centre. In this regard, the FSC also issued the Insurance

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