The Mauritius Union Assurance Company Limited was incorporated in 1948 and in 2008 the

Company celebrated its Diamond Jubilee - 60 years proudly serving Mauritian people. We are
one of the leading insurance organizations serving businesses and individuals with a broad range
of insurance products and insurance-related services.

Mauritius Union is the oldest Mauritian composite insurance company, listed on the Stock
Exchange of Mauritius since 1993. Being financially strong, and in its quest to provide value-
added to its shareholders, Mauritius Union proudly announced the acquisition of National
Mutual Fund (NMF Ltd) on December 2009 and that of La Prudence Mauricienne Co. Ltée in
March 2010. La Prudence Mauricienne also operates in the General and Life insurances sector,
and owns a subsidiary Feber Associates, which specialises in Group Pension Schemes. Hence, a
bigger and stronger Mauritius Union Group is being formed to support all the activities.

Our customers can rest assured that the trust they put in us will continue result in high quality
products and excellent customer service.

Products:

Personal Insurance

Our Household Comprehensive Policy is meant to provide insurance coverage to your home,
whether you own it or you are renting it. You may choose to insure your Buildings or Contents
or both, and opt for the additional covers available under the policy, namely All Risks on
Personal Possessions, Personal Liability and Employers' Liability.

Main features and benefits

1. Protecting your Home & its Contents

You have put so much time, effort and money in your house and its contents, hence it makes
sense to set some money aside to insure them against damage or loss. Your buildings and its
contents will be insured against loss or damage caused by a wide range of perils such as :

Fire, Explosion, Lightning and Earthquake

Cyclone & Flood
 Burglary & Theft
Tidal wave
Volcanic Eruption
Subsidence or Landslip
Bursting or Overflowing of Water Pipes or Tanks
Riots, Strikes & Malicious Damage

Impact by vehicles, falling trees and falling aerials

Falling aircraft

2. Insuring your personal possessions Cover is provided for your personal

possessions such as jewellery, camera and other valuable articles against
accidental loss or damage anywhere in the world.

Travel Insurance:

Whether you are travelling abroad for pleasure or business, you need travel insurance that
responds to your special needs. The Mauritius Union Travel Insurance has been designed to give
you essential cover in case of unexpected misfortunes such as Emergency Medical services as a
result of a sudden illness or accident which might necessitate immediate attention of a qualified
doctor, loss of luggage with personal items and Cancellation/Curtailment.

You will also receive over and above the mentioned cover, a 24 Hour Medical Assistance
through our partner CEGA.

We have different plans for families, businessmen & students.

Personal Insurance
 Household Comprehensive
 Travel Insurance
 Personal Accident
 Motor Insurance
 Golf Insurance
 Domestic Appliances Insurance
 Yacht Insurance
 Commercial Insurance
 Engineering
 Fire & Allied Perils | Burglary | Business Interruption
 Marine Cargo
 Liability Insurance
 Cash/Goods in Transit & All Risks
 Group Personal Accident
 Motor Insurance

Life Insurance:
 Protection
 Life Insurance Portfolio International
 Level Term Assurance
 Decreasing Term Assurance
 Keyman Insurance
 Whole Life
 Group Life Assurance

LIFE ASSURANCE PROTECTION

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Life Insurance Portfolio – International
Life Insurance Portfolio International helps you protect your current lifestyle and ensures that
your family will be provided for in the event of death, sickness or trauma. In addition, it may
assist you with your business protection requirements, if this is relevant to your
circumstances. The Life Insurance Portfolio – International may be issued in Mauritian Rupee
(MUR), Euro (€), British Pound (£), American Dollar (US$) or South African Rand (ZAR).

Level Term Assurance

Level Term Assurance provides financial protection against death of the life assured within a
specific term. It is a pure financial protection and will pay out the sum assured in the event of
death during policy term. The big advantage of a level term assurance is that it provides high
level cover at a minimal cost.

Decreasing Term Assurance

The purpose of this type of policy is to provide death cover in the event the life assured dies
before his loan is fully repaid. The death benefits shall diminish year after year in line with
the mortgage balance schedule. In case of death, any outstanding balance shall be repaid.

Keyman Insurance
The purpose of a keyman insurance cover is to protect a business from financial hardship
caused by the loss of services through death or disability of an individual vital to that business
and to enable it to continue trading for a specific period.

Whole Life
A Whole Life policy provides permanent death cover where the death benefits shall be
payable whenever the life assured dies.

Group Life Assurance

Group Life Cover has been designed to enable employers to alleviate the financial hardship of
families in the form of a lump sum payment in the event of death of its employees while still
in service.
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 Investment & Savings
 Educassurance
 Investment Plus
 Endowment Plans

LIFE ASSURANCE INVESTMENT & SAVINGS

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Educassurance
Educassurance is an innovative child savings plan especially designed for parents to cater for
their child’s tertiary educational expenses. Our education plan also gives financial protection
and peace of mind in the event of an untimely death or total and permanent disability of the
parent.

Investment Plus
Investment Plus is a flexible unit-linked life assurance plan that
allows the client to invest monthly or one-off payments into a plan
that adopts to one’s changing lifestyle.
The premiums paid are invested in carefully selected unitised funds thereby giving the
policyholder access to a broad portfolio of assets. The unit price is determined every month
and varies according to the fund’s performance. Each policyholder shall be given an
individual account whose accumulated value in units is directly linked to the value of the
underlying assets in the funds selected by client and shall be payable at maturity date of
policy.

Endowment plan

An endowment assurance policy with profits provides the payment of the sum assured plus
 accrued bonuses at the end of a specific term upon survival of the life assured. In case of
death, the full sum assured plus accrued bonuses at time of death is payable to the nominees.

Anticipated endowment plans with profits are payment by installment policies where part of
the sum assured is regularly paid to the policyholder at every pre-determined interval. On
maturity date, the last installment of the Basic Sum Assured plus accrued bonuses shall be
payable.
In the event of death before maturity, the basic sum assured plus accrued bonuses shall be
payable irrespective of any installment already settled.
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 Retirement Planning
 Retirement Plus
 Conventional Personal Pension Plan
 Group Pension Schemes
Retirement Plus Retirement Plus is another flexible unit-linked plan which
provides pension benefits to policyholders on their selected retirement age.
Product is administered in a similar way to an Investment Plus plan.

Conventional Personal Pension Plan Our traditional Personal Pension Plan

enables an individual to make provision for his retirement and thereby
remaining financially independent beyond retirement date. It offers a
convenient and flexible means of providing both retirement and death
benefits on and after retirement.

Group Pension Scheme Designed for employees of corporate bodies, it

provides pension benefits at normal or early retirement as well as a cover in
case of early demise or total and permanent disablement.

 Riders
 Accidental Death Benefits
 Life Care
 Total and Permanet Disability
 Child Income Benefit
 Waiver of Premium

Most policies may be enhanced by the addition of riders to the basic cover at a minimal cost.
The most common riders are :

Accidental Death Benefits

Accidental Death Benefits provides the payment of a fixed lump sum in the event of death by
accident before attaining age 65.

Life Care
Life Care or most commonly known as critical illness is another popular optional benefit
where 80 % of the sum assured shall be payable in the event the life assured is diagnosed of
any of the following illness : cancer, coronary artery surgery, heart attack, stroke, kidney
failure or paraplegia

Total and Permanent Disability

Total and Permanent Disability Cover accelerates payment of the sum assured plus bonuses in
the event of the life assured being totally and permanently disabled by bodily injury or disease
rendering him incapable of engaging in his own and similar occupation for remuneration or
profit.

Child Income Benefit

Child Income Benefits provides payment of a monthly allowance to the surviving parent or
legal administrator of child over the remaining term of the policy following the death or total
and permanent disability of the life assured. This benefit is available on our education plan
only.

Waiver of Premium
Under our educational plan, in case of death or total and permanent disability, Mauritius
 Union shall take charge of all future premiums till the intended maturity date. Thereafter, the
sum assured plus accumulated bonuses shall be payable at maturity date.
Waiver of premium option is also available under the total and permanent disability cover for
retirement plus plan. All future premiums shall be waived and pension benefits will become
payable for life.

Loans:

Multipurpose Loan to Policy Holders these loans are granted to clients who
have already contracted a Life Assurance policy with us, provided that the
policy has a surrender value. Our loans carry a fixed rate which applies to
the whole term of the loan.

Housing Loan If you are building a house, making an extension or

improvements to your house, or you are buying one, then the housing loan is
the ideal solution. The loan bears a variable rate of interest and repayment
term can be extended up to 30 years depending on the age of the borrower.

Car Loan This loan is granted to those who want to buy a new car or a
second-hand one but who has no other security to give except the car itself.
We finance up to 75% of the value of the car.

Loan on Share For people who invested on listed stocks on the Stock
Exchange of Mauritius, we give loan up to 60% of the value of the stocks. As
security, we will pledge the shares.

Other Types of Loan Loans can be granted on other types of securities as

well. For instance, you may pledge a fixed deposit that you hold with a
licensed financial institution.
Company Profile:

Background
Mauritius Union was incorporated on the 26th July 1948 and is the oldest Mauritian composite
insurance company operating today. In 2008 we have celebrated our Diamond Jubilee – 60 years
serving businesses and individuals with a broad range of insurance products and insurance-
related services.

Listing
Mauritius Union is a public limited company and its shares are listed on the Official List of the
Stock Exchange of Mauritius under the symbol MUA since 14th December 1993.

Nature of business
Being amongst the leaders in the insurance sector, Mauritius Union conducts both Life and
General Insurance businesses. The company also grants secured loans and invests in shares and
property. We operate through

Our Head Office at 4, Leoville L’Homme Street, Port-Louis

Our six branches at Trianon, Flacq, Rose Belle, Rose-Hill, Grand Bay and Black-River.
One accredited agent, Good Harvest
Our sales agents & various brokers.

Our Vision
The vision of Mauritius Union is to be recognized as a leading insurance company in Mauritius,
providing superior financial protection and investment services with integrity and
professionalism.

Our Values: Strength, Security and Service

The core values of Mauritius Union are encapsulated in 3 'S' namely, Strength, Security and
Service. The company builds its strength on its history, its resourcefulness and its reputation.
Since its incorporation in July 1948, the company has never ceased to build distinct
competencies in developing innovative products that focus on evolving people's needs.
Over the decades, Mauritius Union has forged a reputation built on trust and reliability. Risks to
people's lives, properties and to businesses are manifold. Our customers appreciate that few
companies on the marketplace understand the business of both general and life insurance as
much as we do.

We handle our customers' and shareholders’ money with the highest level of professionalism and
integrity. Our skills enable us to reconcile prudent funds management practices with the search
for superior returns on our investments.

Similarly, claims are also dealt with expediently. Mauritius Union has earned an undeniable
reputation for prompt payment of valid claims throughout its history. Today, we are proud that
all our products share one unflinching principle, i.e., ensuring your peace of mind.

Our 3'S' value system put us at the forefront of both product innovation and delivery. We are
now one of the leading insurance organisations serving businesses and individuals with a broad
range of insurance products and insurance-related services namely, personal pensions. We have
been able to extend our skills to non-insurance financial services namely to loans activities

Milestones

1948 On the 26th July, Mauritian Union is officially incorporated & started operating at 13, Sir
William Newton Street, Port-Louis.

1949 Mauritius Union democratized Life Assurance by launching insurance plans at only Rs2
per month.

1971 We were the first to introduce household comprehensive insurance cover to Mauritian
people.

1975 We moved to our new offices at 4, Leoville L’Homme Street, Port-Louis.

1976 Introducing IT systems in the finance & accounts department.

1981 Good Harvest became an accreditated agent of Mauritius Union. It started to operate at La
Reine Street then move to Desforges Street up till now.
1992 Opening of our first regional branch at Flacq.

1993 Mauritius Union is quoted on the Stock Exchange of Mauritius under the symbol MUA.

1998 Inauguration of our new Head-Quarters, a modern building with 10 floors. The building
costs Rs120 million & obtained the Best Architectural Design in an international
competition.

2003 Excellent financial performance of Mauritius Union, whereby the reserve fund reached the
billion rupee mark.

2007 Product launching: Investment Plus, Bonne Santé, Golf insurance and Electro insurance.

2008 Double events in March, we open 2 branches, one in Grand-Bay on the 3rd, and the other
in Rose-Hill on the 17th, which is in line with our strategy to be nearer to clients.

2008 We celebrate our Diamond Jubilee, 60 years experience with a very strong financial
position.

Timeline

1948 – 1958: a truly MAURITIAN company, democratization of insurance

The Mauritius Union Assurance Company Limited was founded by Noel Coignet on the 26th
July 1948. He persuaded his friends to join in to form the Company. They were Mauritians of all
ethnic groups. The first shareholders were Jules Constantin, Jean Ah-Chuen, Ebrahim Dawood,
Ramlochun Lallah, Paul Mackay among others. Hence, the Company adopted the Mauritian
culture well before the independence of the island.

The objective was to democratize insurance by providing affordable cover to the Mauritian
population by introducing both life & general insurances. We offered life, pension, motor,
household, fire policies among others, and we were also the first to give loans to Mauritians at
affordable rates. Mauritius Union has always been very close to middle-class people to help them
in their different life stages, in difficult times as well as help to make their dreams come true. We
also help protect small and medium sizes businesses existing in Port-Louis at that time through a
whole range of insurance business covers.

The 60s: our motto ‘Slowly but surely”

Year after year, the Company grew even if claims became more and more frequent, especially
with the 2 violent cyclones Alix & Carol in 1960. The directors noted in the Annual Report of
1962: “Our policy of strict prudence continues to bear its fruits (...) The motto “Slowly but
surely” which has been ours from the inception of the company will continue to be applied for
the benefit of all those concerned.” The net profit reached Rs 173 350 in 1967.

After independence, there was economic growth in the island. Mauritian Union continued to
offer protection to all new businesses in the sugar and commercial industries.

The 70s & 80s: New era, services are modernised

Due to a growth in our operations, Mauritius Union moved to new, more spacious offices at
Leoville L’Homme Street and IT systems were introduced in our back-office. New staffs were
also recruited. “We now enjoy pleasant and comfortable surroundings in which to carry out
operations and to welcome our clients and visitors” the directors said in the Annual Report 1974.

Hence, Mauritius Union has made continuous effort to be in line with the economic progress in a
very prudent and ethical manner, resulting in a spectacular growth. Indeed, our reserve fund
increased from Rs 37 million in 1978 to reach Rs 177 million in 1988, a 500% growth!

The 90s: New Head-Quarters & MUA shares quoted on the Stock Exchange of Mauritius
3 major events marked the 90s: first of all, in 1993, Mauritius Union opens its shareholding to
the general public and is listed on the Stock Exchange of Mauritius. In 1998, we celebrated our
golden jubilee – 50 years. And, on that year, we inaugurated our new modern head-quarters. In
fact, the Board of Directors approved the project in 1996 and Mr Paul Lim Fat was assigned as
architect. General Construction was the contractor. It took 14 months to build and before that, 3
months were required to demolish the old building. Mr Paul Lim Fat even won a prize for this
building and was awarded Best Architectural Design in an international competition.

The 21st century: Our financial strength is our pride

From these humble beginnings 60 years ago, the Company now enjoys a very strong financial
position. This is because Mauritius Union has always been managed prudently, slowly but
surely, and with lots of ethics and modesty. Our clients can be sure that their investment is in
safe hands. They trust us and we always make sure that we keep their investment safe, by
minimising the risks. Our directors believe a lot in the Company. Our shareholders’ funds
reached billions of rupees. Hence, Mauritius Union is bound to stay and serve our countrymen
for decades.