group profile
MUA Ltd (‘MUA’ or ‘the Company’) is a public company listed on the Official List of the Stock Exchange of Mauritius (‘SEM’) as from the 8th January 2019 and is a Public Interest Entity as defined by the Financial Reporting Act 2004.
The Board of Directors (‘Board’) of MUA is committed to uphold the highest standards of integrity, accountability and transparency in the governance of MUA and its subsidiaries (‘MUA Group’ or ‘the Group’) and acknowledges its responsibility for applying and implementing the eight principles set out in the National Code of Corporate Governance (2016) (‘the Code’) as explained in appropriate sections of the Annual Report:
- Governance Structure
- The Structure of the Board and its Committees
- Director Appointment Procedures
- Director Duties, Remuneration and Performance
- Risk Governance and Internal Control
- Reporting with Integrity
- Audit
- Relations with Shareholders and Other Key Stakeholders
GOVERNANCE structure
The Role of the Board
The Board is responsible for leading effectively the Group and the Company by establishing strategies and policies to enhance the long-term value for its shareholders and other stakeholders.
The Board validates and monitors strategies, policies and business plans as well as considers all statutory matters, including the approval of financial statements, the declaration of dividends, the review of the Company’s performance through budgets and forecasts and the Chief Executive Officer’s report. It also ensures that all legal and regulatory requirements are met.
structure of board and committees
Board Size and Structure
The Company’s constitution states that the Board shall consist of a minimum of seven and a maximum of twelve Directors. As at 31 December 2019, the Company was headed by a unitary Board consisting of ten Directors, four of whom are Independent Non-Executives, four Non-Executives and two Executives.
The Directors come from different professional backgrounds with varied skills, expertise and strong business experience. Taking into account the sophistication of the Group’s operations, the Board is satisfied that its actual size and composition is well balanced for it to assume fully its responsibilities while discharging its duties effectively. The Board Charter stipulates that composition of the Board shall include at least two Executive Directors, two Independent Directors and gender balance with at least one female Director.
| Directors | Category | Date Appointed | Gender | Country of Residence | Board Attendance |
|---|---|---|---|---|---|
| Vincent Ah Chuen * | NED | 2019 | M | Mauritius | 5/6 |
| Alfred Bouckaert | IND | 2019 | M | Belgium | 6/6 |
| Bertrand Casteres – Chief Executive Officer | ED | 2018 | M | Mauritius | 6/6 |
| Mélanie Faugier | NED | 2019 | F | Mauritius | 6/6 |
| Bruno de Froberville | NED | 2019 | M | Mauritius | 4/6 |
| Dominique Galea * – Chairman | NED | 2018 | M | Mauritius | 6/6 |
| Angelo Letimier (up to 28 June 2019) | IND | 2019 | M | Mauritius | 1/6 |
| Catherine McIlraith | IND | 2019 | F | Mauritius | 4/6 |
| Ashraf Musbally | ED | 2019 | M | Kenya | 5/6 |
| Mushtaq Oosman | IND | 2019 | M | Mauritius | 5/6 |
| Olivier De Grivel (as from 14 May 2019) | IND | 2019 | M | Mauritius | 5/6 |
| *Brian Ah-Chuen (Alternate to Vincent Ah-Chuen) | 2019 | M | Mauritius | N/A | |
| *Antoine Galea (Alternate to Dominique Galea up to 14 May 2019) | 2019 | M | Mauritius | N/A | |
| *Celine Gormand (Alternate to Dominique Galea as from 28 January 2020) | 2020 | F | Mauritius | N/A |
*Definitions: NED: Non-Executive Director – IND: Independent Non-Executive Director – ED: Executive Director
director's profile
Dominique Galea
Chairman, Non-Executive Director
Bertrand Casteres
Executive Director And Group CEO
Vincent Ah Chuen
Non-Executive Director
Alfred Bouckaert
Independent Non-Executive Director
Bruno De Froberville
Non-Executive Director
Mélanie Fraugier
Non-Executive Director
Olivier De Grivel
Independent Non-Executive Director
Angelo Letimer
Independent Non-Executive Director
Catherine Mcilraith
Independent Non-Executive Director
Ashraf Musbally
Executive Director And CEO Kenya & East Africa
Mushtaq Oosman
Independent Non-Executive Director
Brian Ah Chuen
Alternate Director
Antoine Galea
Alternative Director
Celine Gormand
Alternative Director
executive comitee
Delphine Ahnee
Head Of Group Risk, Legal & Customer Care
Mehtab Aly
Head Of Mergers, Acquisitions & Capital Management
Nathalie André
Group Head Of Human Resources
Jean Christophe Cluzeau
Head Of General Insurance
Sin Cham (Laval) Foo-Kune
Group Chief Finance Officer
Naresh Gokulsing
Managing Director Life & Pension
Gaudens Kanamugire
Managing Director, Rwanda
Jérôme Katz
Head Of Group Strategy & Investment
Clarel Marie
General Manager - Life Insurance Operations
Latimer Kagimu Mukasa
Managing Director, Uganda
Rishi Sewnundun
Head Of Group Information Sytems & Logistics
Pradeep Kumar Srivatava
Ceo - Phoenix Of Tanzania Assurance Co
Kenny Wong
Head Of Group Reinsurance & Special Risks
group shareholding structure
