Swan General Ltd (Jul 2022)

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Filename 2022-06-Swan-General-final-20220728.pdf
Filesize 422 KB
Version paid report
Date added Jul 28, 2022
Category Credit Rating Reports, Insurance
Tags Mauritius

Swan General (“Swan”) began operations in 1955, following the merger of The Mauritius Fire Insurance Company Limited (established in 1854) and The Colonial Fire Insurance Company Limited (established in 1871).

The company listed on the SEM in 1990. Currently, 75.4% of shares are held by three conglomerates. 24.6% of shares are in free float. The remaining 75.4% are indirectly held by three large conglomerates, which are all individually listed on the SEM, and have diversified business interests relating to resources, logistics, investments and services.

Swan General has twelve subsidiaries, notably Swan Life Limited (“Swan Life”), Swan Special Risks Company Limited, Swan General Insurance Company Zambia and Swan Reinsurance PCC. Swan Life is the core subsidiary of Swan General, contributing about 59.5% and 89.7% to group revenue and total assets, respectively.

The analytical approach has remained the same from prior years. As Swan General Limited is operationally critical to the wider group, the analytical approach is a group approach: that is an analysis on Swan General Limited and its subsidiaries (including Swan Life), referred to as (“the group” or “Swan Group”).