Insurance
The general (non-life) insurance market, published
statistics from MMA: premiums written, claims paid, and how deeply
insurance reaches the economy.
Gross written premium
MVR 2.25 bn
general insurance, 2025
Gross claims
MVR 992 m
2025
Insurance penetration
1.9%
premiums as % of GDP
Insurance density
USD 237
premium per person
Policyholders i
120,479
2025, across 5 companies
Policies
297,854
2025 · 2.5 per holder
Premiums vs claims
Millions of MVR. General (non-life) insurance business.
Gross written premiumGross claims
Premium and claims by class
How the 2025 book breaks down by line of business (table 11.2): where the premium is written, and where each line's claims run against it.
Premium by class
Gross written premium, 2025, millions of MVR.
Fire
MVR 705 m · 31%
Health
MVR 619 m · 28%
Miscellaneous
MVR 516 m · 23%
Marine hull
MVR 174 m · 8%
Public liability
MVR 83 m · 4%
Engineering
MVR 47 m · 2%
Marine cargo
MVR 40 m · 2%
Motor
MVR 38 m · 2%
Personal accident
MVR 20 m · 1%
Travel
MVR 4 m · 0%
Loss ratio by class
Claims as a % of premium, 2025. Above 100% means the line paid out more
in claims than it collected in premium that year.
Health
71%
Fire
45%
Marine hull
40%
Miscellaneous
29%
Motor
18%
Marine cargo
7%
Engineering
7%
Personal accident
6%
Travel
4%
Public liability
2%
The insurers' own balance sheet
What the general-insurance industry itself holds and owes (table 11.3): its capacity to actually pay claims.
Total industry assets
MVR 4.70 bn
May 2026
Technical reserves i
MVR 1.72 bn
May 2026
Insurers' equity i
MVR 1.07 bn
May 2026
Where insurers put their money
Industry-wide assets, 2026-05. General insurers hold most of their
reserves outside the Maldives, in foreign assets.
Other (loans, equity, premises)
MVR 2.77 bn · 59%
Foreign assets
MVR 1.43 bn · 30%
Securities (bonds etc.)
MVR 488 m · 10%
Deposits with MMA
MVR 14 m · 0%
Industry balance sheet, annual
Millions of MVR, year-end. Technical reserves are what insurers must hold
against future claims; equity is the buffer behind that.
Total assetsTechnical reservesEquity