This year, SICOM celebrates half a century of constant growth, strategic innovation and diversification. Let’s take a look back at the key moments in the history of this key player in the insurance and financial services sector in Mauritius, now firmly focused on the future.
The story begins in 1975, with a crucial mission: to serve the employees of the Mauritian public sector, through the management of their pension funds. At the time, insurance was a niche service in a sector that was still in its infancy. As the country began its transformation from a primary to a secondary economy, SICOM evolved, rapidly becoming one of the most trusted names on the Mauritian financial landscape.
A lot has changed in five decades! Markets have opened up, risks have evolved and the insurance needs of Mauritians have changed. SICOM has kept pace with them, adapting and diversifying, while remaining a constant service provider. SICOM’s offering has expanded far beyond pensions and life insurance to include general insurance, property loans, leasing and investment advisory services.
While multi-sector strategic diversification opens the Group up to real estate project management, with the recently formed SICOM Property Ltd, investment activities are extended to Africa and India, targeting markets with high growth potential. A pioneer in a number of fields, SICOM is the first Mauritian insurer to offer fully digital payment solutions and digitalized motor claims processing, as well as the country’s top-rated insurer – with the exceptional “AAA” rating from CARE Ratings, obtained in 2024 – and the first to adhere to the UN Global Compact and the Principles for Responsible Investment (UN PRI).
“This anniversary allows us to look back on our successes, but above all to reaffirm our determination to be a resolutely forward-looking company. 2025 will highlight our dedicated teams, our loyal customers and partners, and the constancy of our core values: effort, integrity and merit”, emphasizes Nandita Ramdewar, Group CEO with 30 years’ service at SICOM.
