International speciality re/insurance MGA Rokstone has secured an insurance agent licence from the Financial Services Commission in Mauritius (FSC) and is now fully authorised to underwrite business directly in Africa.
Initially writing Political Violence & Terrorism and Property directly from Mauritius, the office expects to offer Financial Lines later in the year.
The Political Violence & Terrorism facility has a capacity of $100 million per risk and emphasises crisis management, victim support and rehabilitation.
“We’re delighted that our Mauritius office is now officially open for business,” said Rokstone’s director and head of underwriting Vinaye Seebaluck.
“We continue to grow the Group’s geographic presence and diversify its speciality product range. Having boots firmly in the ground in the region means we can better serve our clients with a fast, responsive local service and unbeatable cover.
“We have strong growth targets in the region and expect to be writing USD8m premium before the end of the year.
He added, “Having a local licence in Mauritius will save our brokers in Africa valuable time, as they don’t need to go through a Lloyds broker and wait for the risk to be passed around the market.
“With our extensive capacity of USD100m per risk for Terrorism & Political Violence, we are here to provide our producers a one stop shop.
“Our specialist knowledge, use of technology and approach to underwriting also means we can provide broader, more relevant cover, that’s cheaper and quicker to secure than anywhere else.”
“We’re delighted to secure strong capacity for the product – testament to the confidence that carriers have in our expertise and knowledge of this market.”
