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

CHRISPINUS O. MUGWANG’Ä

Chief Executive Officer - Island Life Assurance

CHRISPINUS O. MUGWANG’Ä

Chief Executive Officer - Island Life Assurance

Chrispinus.O. Mugwang’ä is the Chief Executive Officer since 1st July 2024. He holds an MBA in Strategic Management and a Bachelors of Commerce in Marketing,  both from the Catholic University of Eastern Africa- (CUEA).

He also has a Diploma in Life and Disability Underwriting of the Assurance Medical Society, London, UK. He is an Associate of the Chartered Insurance Institute(ACII) and a member of the Society of Technicians in Insurance(MSTI).

 Chrispinus has more than 30 years’ experience in the insurance industry both in East Africa and the SADC region.

NEERAJ K BABOOLALL

Senior Manager - Investment

NEERAJ K BABOOLALL

Senior Manager - Investment

Neeraj is the holder of a BSc (Hons) in Economics and Finance from UOL/LSE, the ACI Dealing Certificate from the Financial Markets Association (Paris) and a Diploma from the Academy of Financial Trading (UK). He is currently pursuing the FRM and CFA designations.

He joined ILA in 2021 after having spent more than 10 years in the financial sector, with experience acquired in Mauritius, UK and Switzerland. He is a versatile professional having gained exposure on both the buy-side and sell-side of the investment industry. Prior to joining ILA, he was a Senior Administrator for the Institutional and Private Wealth Division of GMG Asset Management, a Swiss based investment boutique. He also gained direct exposure to global financial markets through the different positions he held with the brokers/dealers he worked for previously.

Neeraj heads the Investment, Risk and Strategy business units of the company as Senior Manager and in this capacity he also assists the Chief Executive Officer to lead and manage all strategic initiatives of the Company.

ZAMEEL TAKUN

Manager – Operations

ZAMEEL TAKUN

Manager – Operations

Holder of a First Class BSc (Hons) degree in Actuarial Science and a Master’s degree in Quantitative Sciences both from Malaysia, Zameel Takun joined Island Life Assurance (ILA) in October 2022 as Manager – Operations.

Previously, he was employed at MUA Life for 11 years where he was managing the operations of the Group Actuarial Services department.  Under his supervision, the MUA Pension team provided actuarial services in terms of IAS 19 valuations and pension fund valuation to more than 100 corporate clients. Zameel comes with extensive knowledge of the Life insurance and actuarial services.
Other key areas involve product pricing strategies in terms of Group Life businesses and other related schemes. He has a keen interest in life insurance product development. He has always been interested in Islamic Finance products and played a key role in the launching of an Islamic insurance (Takaful) product in the local market.

Zameel heads the Life and Pensions Operations (Individual & Group) business units of the Company as Manager.

VIJAY ANAND RAMDAHEN

Sales Manager

VIJAY ANAND RAMDAHEN

Sales Manager

Vijay is a seasoned professional with over 25 years of experience in the dynamic world of Insurance Sales. He has joined ILA in July 2023 as Sales Manager after having worked at different levels in sales at MUA.

He started as a salesperson, then quickly became a Team Leader, then Field Trainer, then Area Coordinator and finally Assistant Manager- Sales.

During all those years he has developed a passion for helping people safeguard their future and loved ones. Over the years he has recruited and trained a diverse range of Salespersons each with unique needs and aspirations. His journey has been marked by continuous learning , adapting to industry trends and steadfast commitment to exceeding customers expectations.

Vijay heads the Sales and Customer Services business units of the Company as Manager.

Governance

23/08/2023

Board Charter

23/08/2023

Position statement of Chairman

23/08/2023

Position statement of Secretary

23/08/2023

Corporate Governance Committee

23/08/2023

Extract of the Investment Policy Statement

23/08/2023

Code of Conduct

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.