1. Can you give us an overview of Assurances ARO and its strategic position in the Madagascar insurance market?
Njaka Rahamalivony: Assurances ARO is a 100% Malagasy insurance and reinsurance company with nearly 90 years of presence in the country and 50 years operating under its current name. We are the market leader in Madagascar’s insurance sector, even after liberalization around ten years ago. With nearly 350 employees, we cover the entire national territory through 29 agencies, 22 managed directly and 7 general agencies operating exclusively under ARO. We offer around 80 insurance products covering both life and non-life segments. Importantly, ARO is the only Malagasy insurer to hold ISO 9001-2015 certification and a AA financial rating from Global Credit Ratings (an affiliate of of Moody’s Africa), reflecting our financial stability and operational rigor.
2. What are the main types of insurance products you offer, and how do you tailor them for individuals, SMEs, and large corporations?
Njaka Rahamalivony: Our product portfolio includes about 80 insurance products tailored to the needs of individuals and enterprises, regardless of size. Thanks to our highly competent technical team, led by my colleague Rianando, we are able to adapt our offerings based on each client’s risk exposure and financial capacity.
Rianando Rakotoarimanga: We offer both standardized and tailor-made solutions. For example, ARO insures major industrial and mining companies such as Rio Tinto (QMM) in Fort Dauphin, as well as Ambatovy Minerals S.A. (AMSA) and Dynatec Madagascar S.A. (DMSA). We also insure international brands like Imperial Brands through our reinsurance relationship with FM Global. In the mid-market segment, we support companies through the Globus Network, which connects 49 African countries. We recently partnered with the VIMA Group for property and business interruption insurance, showing our ability to adapt swiftly to new clients and sectors. We even design custom products for financial institutions needing bespoke solutions for their customers.
3. How does ARO help increase insurance penetration and promote financial inclusion in underserved areas?
Njaka Rahamalivony: ARO is committed to democratizing insurance access nationwide. Our wide agency footprint brings us close to rural populations. Additionally, we work closely with microfinance institutions and financial partners to broaden our reach.
Rianando Rakotoarimanga: ARO is the only company in Madagascar offering agricultural insurance, which is critical in a country where over 80% of people live in rural areas. We also collaborate with international funders on financial inclusion projects. On the digital front, we allow policyholders to make payments through mobile money platforms, using mobile network operators like Airtel, Telma, and Orange. Our mobile app and partnerships with mobile networks operators help bring insurance products to more people, even those without smartphones. Education is equally important, and we actively participate in financial literacy campaigns to build awareness around the importance of insurance coverage.
4. What role does digital innovation play in enhancing client experience and operational efficiency?
Rianando Rakotoarimanga: Digital innovation is central to both customer experience and outreach. As mentioned, mobile money integration allows clients to pay premiums or savings contributions easily. We are also launching a free customer 24/7 assistance service to further support accessibility and satisfaction. Through our digital channels, even users in remote areas can engage with us, whether via our app or through USSD codes. This approach not only simplifies access but helps instill a culture of insurance across the country.
5. How is ARO responding to emerging risks like climate change, pandemics, and natural disasters?
Rianando Rakotoarimanga: We have adapted our product offering to include health and agricultural insurance tailored to these risks. Our index-based insurance allows us to cover climate-related losses, while new health insurance products address post-pandemic realities. We are also preparing to enable subscription to agricultural insurance via mobile app, making protection even more accessible to farmers.
Njaka Rahamalivony: It's important to emphasize that our goal is not only to sell insurance but to educate and protect people and their activities, especially the most vulnerable. We democratize these solutions and ensure they are easily reachable, both physically and digitally.
6. What governance and transparency measures are in place to strengthen public trust and regulatory compliance?
Tahiana Rakotoarisoa: At ARO, we position ourselves as insurance advisors. We conduct risk assessments and compliance reviews to ensure each client is properly covered. Achieving ISO 9001 certification and maintaining our AA financial rating by GCR an affiliate of Moody’s are key steps we've taken to prove our reliability. We are fully transparent with our data, and our financials are strong. In the past two years, we’ve reimbursed over MGA 100 billion in claims, approximately USD 20 million. Our technical reserves now exceed MGA 454 billion (about USD 90 million), reinforcing our ability to meet our obligations. Strong governance ensures sustainability and trust with both clients and international partners.
7. Can you elaborate on how ARO supports economic development, especially in key sectors like infrastructure and transport?
Njaka Rahamalivony: ARO is a strategic partner in many public and private development projects. As mentionned, we insure large-scale operations like Rio Tinto and the Sumitomo mining company AMSA/DMSA in Ambatovy in the province of Tamatave who are major contributors in economic and infrastructure development . We also support government-backed agricultural insurance programs, in partnership with organizations like the World Food Programme and GIZ.
Rianando Rakotoarimanga: In infrastructure, even before mandatory construction insurance is enforced by law, we already cover projects like the Tamatave highway and port extensions. We are ready to support all new infrastructure developments, thanks to our global reinsurance partners and tailored coverage solutions.
Tahiana Rakotoarisoa: Beyond direct insurance, we support road construction companies managing national maintenance programs. Our ability to underwrite these large and complex risks shows our role as a key player in Madagascar’s economic growth.
8. How does ARO develop local talent and build internal capacity?
Njaka Rahamalivony: Human capital development is one of our strategic pillars. Each year, we offer regular training programs in technical, managerial, and customer service skills. We collaborate with top institutions such as the École Supérieure d’Assurances in France and work closely with Madagascar’s insurance professional association.
Tahiana Rakotoarisoa: Our workforce is both experienced and loyal. Among our 350 employees, the average tenure exceeds 10 years. This stability builds trust with clients and partners, and reflects our commitment to continuous internal development and employee retention.
9. Are there opportunities for strategic partnerships with international players, particularly from the Gulf region?
Njaka Rahamalivony: Absolutely. ARO is well-positioned to be a trusted local partner for international investors. Beyond serving local markets, we also participate in international risk acceptance, covering risks based outside of Madagascar through our global reinsurance links. Our partnerships and financial strength make us the appropriate insurer for investors from the Gulf who seek security, adaptability, and local expertise.
10. What final message would you like to share with our readers in the Gulf region regarding Madagascar’s insurance market and ARO’s role in supporting resilient, long-term investment?
Njaka Rahamalivony: First of all, thank you for this opportunity. Our message is simple: ARO combines 90 years of history with modern, forward-looking strategies. We are the only company in the country with a AA financial rating from Moody’s affiliate and ISO 9001-2015certification. Recently, we also received the Diamond Prize for Quality and Innovation from the European Society for Quality and Research (ESQR) in Switzerland. These accolades reflect our deep commitment to excellence and continuous improvement. We invite investors from the Gulf to explore Madagascar’s growing opportunities, with ARO as your trusted, capable partner.
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