The recent bankruptcy of British American Investment (BAI) resulted in activity cessation of the life insurance company of BAI Insurance Group.
This company, which has a substantial portfolio of life insurance policies, has left 160 000 contractors in panic as to the recovery of their assets.
In order to avoid a social crisis, the Mauritian government intends to resume the activities of BAI Insurance in a structure to be created in the near future.
As a reminder, the opaque system of BAI group collapsed due to its inability to inject 9.3 million USD of cash imposed on it by the Bank of Mauritius.
The group that had managed some 150 companies (banking, insurance, real estate, retail, motor dealership, private clinic, media ...) left a damage of between 530 million USD and 662 million USD, according to the magazine Challenges.