Regulatory Alerts2016-01-01
Captive Insurance (Pure Captive Insurance Business) Rules 2016
Mauritius' Financial Services Commission issued these rules to regulate pure captive insurers under the Captive Insurance Act 2015, mandating a minimum paid-up capital of three million Mauritian rupees and a 100 percent solvency ratio calculated via asset and underwriting capital. The framework further requires approved auditors and actuaries, mandates substantive operational presence with adequate personnel and expenditure, and enforces strict investment diversification alongside the timely submission of audited financial statements, actuarial reports, and solvency certificates. Compliance with these provisions is enforced through Commission oversight, which retains the authority to approve contingency plans, reject non-compliant reports, and appoint auditors or actuaries directly when necessary.