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Mauritian Insurer helps workers fight inflation with bonus, pay raise

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Abdel Ruhomutally, MD of GFA Insurance Ltd.

All employees of Mauritian insurer GFA Insurance have just received a pay boost and a bonus in the wake of the company’s 25th anniversary.

The financial support comes at a time when Mauritius grapples with an inflation rate of 11.5%.

“Completing 25 years is a sign of confidence from our customers, but also from our employees, who have contributed to make us who we are today. Insurance is not just about problems and numbers… It’s about relationships that we have built over time and which are an integral part of our DNA,” explains Abdel Ruhomutally, Managing Director of GFA.

Thus, employees received a bonus ranging from 25% to 100% of their monthly salary, proportional to their length of service.

GFA employees also received a raise of Rs500 to cope with rising costs of goods and services.

This increase is an addition to the temporary financial support of Rs1,000 granted monthly to all employees through the Mauritius Revenue Authority (MRA).

Since the bonus is valid only until June 2023, the GFA has pledged to maintain the payment by confirming it as a supplementary pay raise.

“Our teams have faced recent challenges and obstacles with professionalism and with a positive attitude that has resonated throughout our organization. We hope that the anniversary bonus and this modest pay raise will be useful to them, especially at a time when high inflation has shaken everyone’s purchasing power,” said GFA’s boss.

Clients, he added, will not be left out. The insurer is currently offering discount vouchers for various products and services through collaborative agreements with local SMEs.

“We are also working on an initiative that we hope to launch in a few weeks. It is only by helping each other that we’ll be able to navigate through these challenging times,” he said.

In 2020, the international magazine ‘Global Banking & Finance Review’ hailed GFA Insurance as the ‘Best Insurance Underwriting – Mauritius’.

Last year, the publication once again acclaimed GFA Insurance, this time as the ‘Best Auto Insurance Company Award – Mauritius 2021.’

Founded in 1997, the GFA is, with 25 offices and agencies across Mauritius, among the most consulted insurance companies on the island for general insurance services, travel insurance, home/business insurance and professional indemnity.

It has more than 40,000 active policies and employs more than a hundred people.

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