Mauritius regulator lifts foreign restrictions on structured investment-linked insurance products

The Financial Services Commission (FSC) of Mauritius has issued a consultation paper proposing to establish a regulatory framework for insurance wrappers, as announced in the National Budget 2020-2021. The FSC is introducing this new product within the Insurance Act 2005 as a fifth class of long-term insurance business, and is also proposing to use the term structured investment-linked insurance business (Silib) instead of the term Insurance Wrapper. Silib policies will be required to be sold