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FSC statistical bulletin : total income of non-bank financial institutions increased by 12% in 2017

The Financial Services Commission, Mauritius (FSC) recently appointment Kamalsing Burun as Assistant Director of its Capital Markets cluster.

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FSC statistical bulletin : total income of non-bank financial institutions increased by 12% in 2017

The Financial Services Commission, Mauritius (FSC) released its eleventh Annual Statistical Bulletin. As per Section 6(j) of the Financial Services Act 2007, the FSC has to collect, compile, publish and disseminate statistics in respect of the financial services and global business sectors.

The primary objective of the Statistical Bulletin is to provide up-to-date figures on the different institutions regulated by the FSC, namely, non-bank financial institutions and global business companies. The Bulletin presents a synopsis of current trends by comparing figures of 2017
with 2016.

The Total Income of non-bank financial institutions operating under the domestic regime in 2017 amounted to MUR 5.9 billion representing an increase of 12% in contrast to the previous year. A growth of 8% was observed for the Total Assets reaching MUR 36.3 billion in 2017.
Premiums received by Long-Term Insurers amounted to MUR 10.4 billion in 2017 with a rise of 7% against MUR 9.7 billion generated in 2016. Likewise, premiums collected under the General Insurance Business observed an increase from MUR 8.0 billion in 2016 to MUR 8.7
billion in 2017.

The Total Assets of Corporate and Trust Service Providers amounted to USD 223 million in 2017 showing a rise of 11% compared to the previous year. Total Income for this activity witnessed an increase of 12% from USD 230 million in 2016 to USD 257 million in 2017. Profits reported by Management Companies in 2017 stood at USD 55 million. Total direct employment in the non-bank financial services sector experienced rise of 2% to
reach 7,428 as at end of 2017 compared to 2016. The major employers in the sector are Management Companies followed by Insurance Companies and Leasing Companies.

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