Mauritius Union Assurance (MUA) Group

Mauritius Union Assurance (MUA) Group, established in 1948, is a prominent financial services company headquartered in Port Louis, Mauritius. Over the years, MUA has expanded its operations beyond Mauritius, establishing a significant presence in East Africa and the Indian Ocean regions.

History:

MUA was officially incorporated on July 26, 1948, and began its operations in Port Louis. In 1993, the company was listed on the Stock Exchange of Mauritius, enhancing its visibility and access to capital markets. A significant milestone in MUA’s expansion was the acquisition of Phoenix Transafrica Holdings in 2014, which extended its footprint into Kenya, Tanzania, Rwanda, and Uganda. In 2018, the company underwent a rebranding, unifying its various entities under the single brand name “MUA.” Further strengthening its presence in East Africa, MUA acquired Saham Kenya in 2020.

Financial Performance:

As of June 30, 2024, MUA reported a notable increase in the performance of its General Fund, which grew by 11.8%, supported by the recovery of global markets. The company’s financial strength is further underscored by its reserve fund, which reached the billion-rupee mark in 2003.

Leadership:

MUA’s leadership team comprises experienced professionals dedicated to steering the company towards sustained growth:

• Joerg Weber: Serving as the Chief Executive Officer since September 2022, Mr. Weber brings extensive experience in the insurance industry to his role.
• Mehtab Aly: As the Director of Finance and Chief Financial Officer since March 2021, Mr. Aly oversees the financial operations and strategies of the Group.
• Marie Henri Dominique Galea: Holding the position of Chairman, Mr. Galea provides strategic oversight and guidance to the Board.

The Board of Directors includes individuals with diverse expertise, ensuring robust governance and strategic direction for the Group.

Through its strategic initiatives and commitment to excellence, MUA Group continues to play a pivotal role in the financial services sector within Mauritius and its international markets.