BAI Co (Mtius) Ltd, formerly known as British American Insurance Co. (Mtius) Ltd, is the largest life insurance providers in Mauritius with an almost over 45% market share.
The Company started in 1920 in the Bahamas, with a head office in the United States. In the fifties, the Company started expanding internationally and by 1980 it was present in more than 35 countries on five continents. By late 1980s, several corporate restructures had seen the localization of ownership in many of the branches. It is still present in many of the countries in which it originally operated, with the largest block being BAI in Mauritius which has holdings in Kenya and Malta.
The Mauritius office opened in 1969, as a small branch of BA Insurance Kenya. In the following 20 years the Company expanded throughout the country and became one of the top three life insurance companies. In the late 1990s, the Company started expanding through investments in a number of financial services companies. In 1993, the Company was listed on the Stock Exchange of Mauritius.
By 2003 it also had investments in non-financial services sectors. In that same year, BAI’s investments were streamlined and the group restructured under a new holding company, British American Investment Co. (Mtius) Ltd., the shares of which replaced BAI shares on the Stock Exchange of Mauritius.
Nearly four decades after its arrival in Mauritius, the Company has undergone a metamorphosis, spreading its activities beyond that of insurance into other fields, mainly in leasing, financing, mortgage finance, money transfer and fund management.
Prudent management has allowed the Group to maintain a proven track record of paying dividends throughout our history, while consistently providing quality products and services.
