Background

The State Insurance Company of Mauritius Ltd (SICOM) was incorporated as a public company in 1988 under the regulations of the Companies Act but our roots can be traced back as far as 1975 where business operations started with the State Insurance Corporation of Mauritius. In view of new diversification opportunities, the State Insurance Corporation of Mauritius started underwriting General Insurance in 1978 and Life Assurance in 1980.

In 1998-1999 SICOM Global Fund Ltd, SICOM Management Ltd and SICOM Financial Services Ltd (SFSL), were created to consolidate the SICOM Group financial position and open new avenues towards globalisation.

We are now actively competing for short-term and long-term businesses on both individual and corporate markets. Our main portfolio of activities consists of Life Assurance, General Insurance, Group Life and Pensions, Actuarial Services, Group Medical, Loans, Deposit Taking, Leasing, Unit Trust as well as Investment Management.

Group Structure
The Group accounts of the State Insurance Company of Mauritius Ltd (SICOM) also include those of SICOM Financial Services Ltd, SICOM Global Fund Ltd and SICOM Management Ltd. Besides, SICOM Financial Services Ltd also manages the SICOM General Fund, a unit trust constituted under the SICOM Unit Trust

Our Team
At the heart of our business are our most valuable assets : a dedicated staff to ensure the best possible service to our clients. We presently operate with a team of over 250 employees with professionals of varied educational backgrounds including professionals of Actuarial Sciences, Insurance, Finance, Human Resource, Marketing, Business Administration as well as Information Technology.

Our Promise
At SICOM, commitment to customers runs deep. We believe in looking after our customers and strive to provide a professional and quality service while being friendly, helpful and considerate at all times.

Our Mission
Dedicated to providing the best in insurance and financial services, with focus on competitive quality products and excellent levels of customer care.

Our Shared Values
Our customers: the focus of all our actions
Our employees: the source of our success
Our products and services: competitive and first-class security
Commitment to innovation and teamwork
Assisting the development of the community


Our Objectives
Provide excellent customer service
Maximise profits and returns to stakeholders
Highly effective staff and agents
Increase market share
Respond to new customer needs
Identify diversification opportunities

AUDITORS

Kemp Chatteris Deloitte & Touche
CONSULTING
ACTUARIES

QED Actuaries & Consultants (Pty) Ltd
BANKERS The State Bank of Mauritius Ltd
The Mauritius Commercial Bank Ltd
Hong Kong & Shanghai Banking Corporation Ltd
Barclays Bank PLC
Indian Ocean International Bank Ltd

REINSURERS Swiss Re Africa Ltd
Swiss Re Life and Health Africa Ltd
Munich (Mauritius) Reinsurance Co. Ltd
Hannover Re (Africa) Ltd
African Reinsurance Corporation
GE Frankona Re

REINSURANCE BROKERS Heath Lambert Group
Marsh Ltd
Alexander Forbes (Mauritius) Ltd