About Us

ABOUT US

Island Life Assurance Co. Ltd

Island Life Assurance (ILA), one of the key players in the life insurance sector in the country, is part of the Currimjee Group of companies, and is a fully owned subsidiary of Currimjee Jeewanjee and Company Limited, which has been in existence since 1890.

Island Life, to date, has more than 35 years of experience in the Mauritian market. Positioned as a long term player, Island Life Assurance aims to become one of the most reliable and trusted life insurance companies in the country, guided by the principles of integrity, customer focus, product innovation and financial stability. The company offers a range of innovative products for individuals as well as corporates.

On the individual front, its product portfolio includes:

  • Investment plans with competitive bonuses
  • Cash back policies every 5 years
  • Educational policies
  • Pension plans
  • Pure risk covers (Term policies)
  • Key man insurance
  • Secured loans for housing & other purposes

All plans support riders like total permanent disability, accidental death benefit or waiver of premium, based on customer requirements.

On the corporate front, ILA offers group life assurance as well as pension administration and fund management services.

ILA’s products are offered to the general public through its tied sales force as well as through its direct marketing arm that is geared to adapt products to the client’s needs.

ILA is licensed by The Financial Services Commission.

Client servicing sits at the heart of the organisation and we are committed to deliver operational excellence, investing heavily into resources, both human and technological.

ISLAND LIFE ASSURANCE

Our Values & Principles

Our Mission

We provide insurance products and services tailored to meet the specific and ever changing needs of our customers. Our endeavour is to be an insurance company guided by the principles of customer focus product innovation, financial stability and intergrity

Our Vision

To be the most trusted and reliable life insurance company in Mauritius

5 Values at Heart

Foresight, Integrity, Responsibility, Passion, Openness

Quality Policy

As an established provider of insurance products and services, Island Life Assurance is committed to : Innovate by continuously designing and introducing new products and services for new markets. Focus on customers and interested parties, and provide excellent & personalised services that meet their expectations. Support the personal and professional aspirations of its employees leading to a performing team of well trained professionals. Fulfill all applicable regulatory requirements and to continually improve its processes and services according to the International Quality Standard ISO 9001:2015.

Our Management Team

SAILESH B KOOMAR

Chief Executive Officer

Sailesh Koomar is Fellow of the Chartered Insurance Institute of UK (FCII), Chartered Insurer, and holder of a Master’s in Business Administration (MBA) from University of Surrey (UK).

He reckons more than 33 years working experience in the insurance industry and joined Island Life Assurance in August 2019 as Chief Executive Officer.

Prior to joining ILA, Sailesh was the Chief Operating Officer of the State Insurance Company of Mauritius Limited Group (SICOM Group) heading the Life, Loans, Human Resources, and Business Development business units of the Group. He has worked as Life Manager for a composite insurance company from 1986 to 2002.

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SORENS P. RUGHOOPUTH

Senior Manager Sales & Operations

Sorens holds an Executive MBA and is a qualified member of the Chartered Insurance Institute UK, Associate, Life Management Institute (ALMI) LOMA US. He is also a fellow member of the Australian and New Zealand Institute of Insurance & Finance – Certified Insurance Professional and Certified Canfield Trainer.

Sorens stepped into Life Assurance Operations as Underwriting Officer in 1990 – Rainbow Insurance and in 1996 – Mauritius Union and quickly demonstrated exceptional capabilities and was appointed as Underwriter. In 2000, his talent was acknowledged by British American Insurance Company in Mauritius; he rapidly climbed the ladder as Project Manager – New Life Operations System, Operations Manager, Vice President – Technical Services, Senior Vice President – Business and Channel Development. In 2012 Sorens was seconded to Bramer Life – Botswana as Deputy CEO/Principal Officer.

Before joining ILA as Senior Manager Sales & Operations he was working as Chief Technical Officer – Life Operations at National Insurance Company.

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SIOW YAN LIM FOOK

Finance Manager

Miss Siow Yan is a Fellow Member of Association of Chartered Certified Accountants.

She is a full-fledged accountant with more than 30 years of experience in finance acquired mainly in the Life Assurance sector. Prior to joining ILA, she has worked in various insurance companies in Mauritius (SICOM Ltd, Swan for Life, IOGA Ltd, Metropolitan Health (Mauritius) Ltd, Metropolitan Life (Mauritius) Ltd, now Afri Life Insurance Ltd). She was the Finance Manager and Money Laundering officer at Afri Life Insurance Ltd.

She presently heads the Finance section as Finance Manager.

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MOHAMAD SHAKEEL R JEEHOO

Manager - Technical Finance

Shakeel is a Fellow Member of The Association of Chartered Certified Accountants (UK) and also holds a Global Audit Practising Certificate, issued by the ACCA.

Shakeel has more than 15 years experience in accounting, auditing, finance, administration and management. Prior to joining Island Life Assurance he was associated with Companies like Deloitte, Ernst & Young, PricewaterhouseCoopers and Finacc Ltd heading their external, internal Audit and Business Advisory assignments.

He has also spent 3 years, working for Thomas Cook (Mauritius) Operations Co Ltd as Senior Manager – Finance, where he contributed in the restructuring of the finance department and participated in the implementation of MIS, Internal Controls and Best Practices.

Presently at ILA, he is responsible for administration and reporting of the Group Life & Pension Business, Risk Management, Revenue Assurance and Reinsurance.

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ISLAND LIFE ASSURANCE

The Currimjee Group

Through our continuous commitment to people, progress and strong values, we will continue to lead the way. We are a proudly Mauritian organisation with rich heritage of entrepreneurship and foresight, ever learning from our past to build something better for today and for the generations to come.

A PROUDLY MAURITIAN ORGANIZATION

Currimjee Jeewanjee is a family-owned business founded by the Currimjee Family with over 130 years of existence. The Group currently operates in seven business sectors: Telecoms, Media & It, Real Estate, Hospitality & Tourism, Commerce & Financial Services, Energy, Food & Beverages and Home & Personal Care.

 

With deep-rooted values, a clear vision, a strong governance, a united team, a professional and multicultural management team, the Group aims to continue its development in a sustainable manner so as to leave a strong legacy to the future generation.

GROUP HISTORY

The story begins way back in 1884 when a 22-year old, adventurous young man, Currimjee Jeewanjee, set foot on the shores of Port Louis from Gujarat, India. He started a little business in 1890 at Louis Pasteur Street, trading in commodities.

 

The business activities of the Currimjee Group are organized through seven clusters: Telecoms, Media & IT, Real Estate, Tourism & Hospitality, Commerce & Financial Services, Energy, Food & Beverages and Home & Personal Care.

 

The first five clusters are managed by Currimjee Jeewanjee and Company Limited, headed by Anil C Currimjee, Managing Director and the other two clusters are managed by Currimjee Industries that has at its head Ashraf M Currimjee, Managing Director, for the Home & Personal Care cluster and Azim F Currimjee, Managing Director, for the Food & Beverages cluster, with Raffi Currimjee, Deputy Managing Director, at his side.

 

The Chairman of the Group is Bashir A Currimjee, GOSK

Sustainability / Environment / CSR Activities

Being a 100% Mauritian brand, ILA embraces the philosophy of “giving back” to the society through the establishment of an ethical
framework, thus maintaining a balance between the economy and the ecosystems among which we operate.

 

Our personal satisfaction resides not only in financial success but also in making positive changes and contributing to provide
environmentally friendly products and services, as well as a desire to improve the lives of individuals.