26 October 2022Asia analysis

TBD Captive Insurance launched in Mauritius

The Eastern and Southern African Trade & Development Bank Group (TDB Group) has formally launched TDB Captive Insurance Company (TCI) in Ebene, Mauritius.

“TDB Group is thrilled to formally launch the TDB Captive Insurance Company (TCI) – our own insurance and re-insurance provider for the Group, via which, by sourcing and co-providing in-house coverage solutions for our subsidiaries, we will be able to achieve greater risk management efficiencies,” said Admassu Tadesse, TDB group president emeritus and managing director.

“So far, we have onboarded over $200 million in policies and look forward to more, in view of anchoring our institution more solidly and be in a position to contribute to the sustainable development of the member states we serve on a triple bottom line basis.”

TCI is a TDB Group subsidiary which provides credit and political risk insurance and reinsurance cover for TDB Group subsidiaries, thereby creating greater efficiencies in the Group’s risk management. The company was created on August 24, 2022.

The management and day-to-day operations of TCI is managed by the Captive Manager—Rogers Capital in collaboration with SWAN. The services include insurance management, administration and secretarial, enterprise risk management, accounting, financial and AML/CFT reporting. The Captive Manager is also entrusted with maintaining quality, security, and compliance standards for client information privacy and data protection, ensuring confidential, accurate, cost-effective, and time-bound captive insurance solutions.