Dear Shareholder,
It is thanks to the commitment and engagement of our teams that we have delivered a robust performance in the first year of our three-year strategic plan MUA Ambition 2020. These strong results build on the concerted work done in the past four years to deliver sustained value to all our stakeholders, through our first strategic plan. Our focus has been on achieving greater efficiency, proposing innovative products and services to our wide network of insurance partners and our clients, and most importantly remaining customer-centric in our approach.
This past year was on many levels a pivotal one in our group’s history, as we launched a single, strong brand MUA across all our business units in Mauritius (General Insurance, Life, Pension, Mutual Funds and Stockbroking) as well as our operations in Kenya, Rwanda and Uganda.
We are well on track with our MUA Ambition 2020 strategic plan, focusing on the execution of clear management levers, and pursuing the tandem of business growth and business transformation within the various entities. Our stated objective is to become a regional leader in insurance, empowering our stakeholders to live a better life. In terms of our results, the Gross Earned Premiums of our key General Insurance operations in Mauritius grew by 7%, whilst our operations in East Africa grew by 10% despite a volatile environment. The revenue of our Mauritian Life operations crossed the Rs 1 billion mark for the first time thanks to continuing focus on business development and distribution.
As we take stock of this past year, I would like to extend my sincere thanks to our clients for their trust. They remain our primary focus, as we develop new products and client tools to deliver on our engagement to better serve their needs every day. My gratitude also, to our teams across six countries, our distributors and key business partners, who have been working closely with us to deliver these strong results and maximise the impact of our strategic initiatives. We are confident that our collective efforts and energy will create sustainable long-term value for all our stakeholders.