For its first semester which ended on December 31, 2015, Mauritian insurer Mauritian Eagle generated a turnover of 585.3 million Mauritian rupees ($16.4 million), almost the same as the turnover generated the previous year over the same period. Net result of the firm’s insurance segment on the same trend had a margin of 36 million rupees (1000 rupees=$28).

During the quarter, the firm’s subsidiary Mauritian Eagle Leasing Company (MELCO) proceeded to an opening of capital which decreased its participation to 13.5%. The other consequence of this operation was the deconsolidation of MELCO’s results in Mauritian Eagle’s. However prior to the opening of capital, MELCO’s exploitation led to the establishment of provisions of bad debts which in turn caused its leasing division to lose 66.8 million.

As a result of these, the firm had an overall net profit of 30 million rupees over the period against a profit of 36 million rupees for the same period in 2014. Moreover, the company invested around 300 million rupees cash and spent 371 million rupees for operation costs. Due to this, it ended the period with 202 million rupees against 908 million rupees a year before.

Idriss Linge