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AboutUS

About Us

Our mission to transform insurance in Mauritius is just starting. Our objective is to offer our customers best-value insurance policies in new ways combined with outstanding customer service.

 

Our Business and Philosophy

At Quantum Insurance, our aim is to change the face of insurance in Mauritius and bring quality insurance products at more affordable prices to customers.

We want to advance from the traditional way of offering insurance by providing customers with a different and better way of obtaining insurance. With this in mind, we launched our online direct-to-customer business in 2015. Our products are also offered through our office at 1st Floor HSBC Centre, 18 Cybercity, Ebene.

We believe the local community of customers deserves:

Quick, user-friendly and convenient online insurance

Clear, jargon-free choices with translucent pricing

Direct access to and custom control over their policy administration

And since our launch, we have been working towards providing exactly that to our valued customers.

Adopting a direct business model, Quantum Insurance offers its customers with lower insurance premiums by removing agents from the process. We conduct most of our business primarily through our user-friendly website, supported by a fully staffed walk-in office in Ebene.

We have taken note of what consumers in Mauritius have to say about the rising costs of their insurance policies and poor, as well as, inadequate claims service. We offer an exceptional opportunity to empower customers to take control and pay more competitive and fairly-priced insurance premiums, by not having to bear any commissions costs or middle-men costs in your insurance premium.

Quantum Insurance will continue to innovate and come up with unique offerings for our customers while keeping our premiums affordable.

 

Who We Are

Quantum Insurance Ltd (Business Registration No. C14126016) is incorporated in Mauritius and registered as a licensed insurer by the Financial Services Commission of Mauritius to serve the General Insurance market and is subject to the reporting and compliance requirements of the insurance industry.

Quantum Insurance is a private limited company with its majority shareholder being the Hertshten Group, incorporated in March 2005 and registered in Mauritius. Hertshten Group Ltd is regulated by the Financial Services Commission in Mauritius, a globally-recognized regulatory authority.

Hertshten Group Ltd is the holding company, established in 2005, of a group of companies operating in the financial services as well as engaged in other financial investments in line with the agreed strategy and objectives of the Board of the Hertshten Group.

 

Our Board

    + Marc Lagesse, Chairman of the Board
    + Iqbal Rajahbalee, Independent Non-Executive Director
    + Alain Rey, Independent Non-Executive Director
    + Gedon Hertshten, Chairman of Hertshten Group
    + Dhiresh Shah, Chief Finance Officer, Hertshten Group
    + Ashok Prayag, Chief Executive Officer, Quantum Insurance
    + Devesh Biltoo, Chief Operating Officer, Quantum Insurance

Marc joined as Chief Executive Officer of Hertshten Group in 2012. He brought strong credentials to the role: he traded futures as a LIFFE floor trader in London for 12 years, he represented MCB Capital Markets in a joint venture partnership with Hertshten Group in Mauritius and he served as a Non-Executive Director of HG from 2008.

Marc holds a BSc (Hons) from University College in London and a MBA from the London Business School. Returning to Mauritius in late 1996, he worked in the MCB investment management business before being promoted to CEO of MCB Capital Markets in 2006. Marc is resident in Mauritius and operates from Hertshten Group’s headquarters there.

Iqbal joined Quantum Insurance on October 15, 2014 as an Independent Non-Executive Director. He served for 12 years at the Attorney General’s Office and was acting as Assistant Solicitor General when he left to set up the offshore business regulatory authority, MOBAA, in 1992. He is a Barrister by profession and is the Head of Chambers at BLC Chambers. He actively participated in the setting up of the Financial Services Commission of Mauritius to act as an integrated non-bank financial regulatory body and was appointed as its first Chief Executive.

Iqbal holds a Masters Degree in Law (LLM) from the London School of Economics and Political Science, London, and was admitted to the Middle Temple Inn of Court, London, on his qualification at the London Council of Legal Education. He is also the Honorary Member at Asian Offshore Association, and Member of the Mauritius Bar Association.

Alain joined Quantum Insurance on November 21, 2014 as Independent Non-Executive Director. He was until recently the Chief Executive Officer of Compagnie de Mont Choisy Limitée Group of Companies. For 10 years, he served as the Senior Vice President and Chief Financial Officer at Novel Denim Holdings Ltd and later joined Barclays Bank Plc as Regional Corporate Director. Prior to that, he served as Program Manager in the Consumer Services Division at Citibank, Paris.

Alain holds a BSc Economics from the London School of Economics and Political Science and is a member of the Institute of Chartered Accountants of England and Wales.

Gedon founded G.H. Financials in the City of London in 1993. An independent clearing operation, G.H. Financials has grown to become one of the leading global clearers in the industry.

Gedon began his career as a local floor-trader at the Chicago Board of Trade in 1978, and has been involved in the derivatives industry for the past 33 years as a trader on various exchanges and as an entrepreneur. He was a member of the LIFFE Board of Directors and has sat on many key committees.

Today, Gedon focuses on expanding Hertshten Group’s global reach and developing new business ventures.

Dhiresh joined Hertshten Group as CFO in May 2012 after a 23-year career at KPMG, where he advised clients on a wide range of issues that included strategic finance, global structuring, tax optimization, accounting, risk management, due diligence and acquisitions. Having advised Hertshten Group on a range of financial issues for years, he was very familiar with the Group from the outset.

Dhiresh holds a BSc in Management Science from the London School of Economics (1985). In 1988, he became a member of the Institute of Chartered Accountants in England and Wales, and in 1989 a member of the Chartered Institute of Taxation

Ashok Prayag is a Director of Hertshten Group and CEO of Quantum Insurance. He joined the Board as an Independent Non-Executive Director in 2011. He has served in a similar capacity on the boards of numerous prominent private sector companies as well as public sector institutions in Mauritius.

Before joining and helping build Quantum as CEO, Ashok served as the General Manager of Munich Mauritius Reinsurance Company, a subsidiary of Munich Re (the leading global reinsurer), for 24 years until November 2014. He oversaw the company's reinsurance activities in 44 different countries in sub-Saharan Africa (excluding Southern Africa). Prior to joining Munich Re, he worked in the Pension Department of Scottish Widows’ Fund & Life Assurance Society in Edinburgh, Scotland. He returned home to Mauritius in 1989 to serve as the Insurance Regulator in Mauritius before joining Munich Re.

Ashok holds a BSc (Hons) in Actuarial Mathematics and Statistics from Heriot-Watt University, and is a Fellow of the Faculty of Actuaries in Scotland, United Kingdom.

Devesh B Biltoo, born in 1978, is an Associate of the Chartered Insurance Institute of the United Kingdom. He also holds a BSc. degree in Economics and Mathematics from the University of the Witwatersrand. He has been working extensively in the insurance industry in Mauritius since 2001, particularly in the General Insurance sector. Before joining Quantum Insurance in 2015 as Chief Operations Officer, Devesh successively worked for La Prudence Mauricienne Assurance Ltée as Senior Underwriter before being promoted to Technical Manager, General Insurance Department-Underwriting following the merger with The Mauritius Union Cy. Ltd. He is also an Executive Director of Quantum Insurance.

 

Our Management

Ashok Prayag
Chief Executive Officer

Ashok Prayag is a Director of Hertshten Group and CEO of Quantum Insurance. He joined the Board as an Independent Non-Executive Director in 2011. He has served in a similar capacity on the boards of numerous prominent private sector companies as well as public sector institutions in Mauritius.

Before joining and helping build Quantum as CEO, Ashok served as the General Manager of Munich Mauritius Reinsurance Company, a subsidiary of Munich Re (the leading global reinsurer), for 24 years until November 2014. He oversaw the company's reinsurance activities in 44 different countries in sub-Saharan Africa (excluding Southern Africa). Prior to joining Munich Re, he worked in the Pension Department of Scottish Widows’ Fund & Life Assurance Society in Edinburgh, Scotland. He returned home to Mauritius in 1989 to serve as the Insurance Regulator in Mauritius before joining Munich Re.

Ashok holds a BSc (Hons) in Actuarial Mathematics and Statistics from Heriot-Watt University, and is a Fellow of the Faculty of Actuaries in Scotland, United Kingdom.

Devesh Biltoo
Chief Operating Officer

Devesh B Biltoo, born in 1978, is an Associate of the Chartered Insurance Institute of the United Kingdom. He also holds a BSc. degree in Economics and Mathematics from the University of the Witwatersrand. He has been working extensively in the insurance industry in Mauritius since 2001, particularly in the General Insurance sector. Before joining Quantum Insurance in 2015 as Chief Operations Officer, Devesh successively worked for La Prudence Mauricienne Assurance Ltée as Senior Underwriter before being promoted to Technical Manager, General Insurance Department-Underwriting following the merger with The Mauritius Union Cy. Ltd. He is also an Executive Director of Quantum Insurance.

Viviane Henri
Underwriting Manager

Viviane Henri, born in 1974, is an Associate of the Chartered Insurance Institute of the United Kingdom. Viviane is in the process of completing an MBA from the Edinburgh Business School, Graduate School of Business of the Heriot-Watt University, Scotland. She has worked extensively in the insurance industry in Mauritius as well as worked for a brief period in the UK insurance industry. Before being appointed as the Underwriting Manager at Quantum Insurance in 2015, she worked successively for Albatross Assurance Co Ltd, Addax Oryx Group Ltd, La Prudence Mauricienne Assurance Ltée, Gras Savoye Brokers and Consultants Ltd. and was also the Assistant Manager Technical Non-Motor Underwriting at The Mauritius Union Cy. Ltd.

Doomesh Fullee
Financial Controller

Doomesh Fullee, born in 1983, is a member of the Association of Chartered Certified Accountants of the United Kingdom and Mauritius Institute of Professional Accountants (MIPA). He also holds a BSc. degree in Accounting with Information System from University of Mauritius. Doomesh is a results driven, self-motivated and resourceful financial controller with proven ability to provide key financial data, possessing more than 10 years of experience in accounting and finance positions. Before joining Quantum Insurance in 2015 as Financial Controller, he worked as Group Financial Controller for Voyagers Zambia which is one of the biggest travel agencies in Zambia. He has also worked at Hertshten Group Limited as Management Accountant.

Ashok Prayag is a Director of Hertshten Group and CEO of Quantum Insurance. He joined the Board as an Independent Non-Executive Director in 2011. He has served in a similar capacity on the boards of numerous prominent private sector companies as well as public sector institutions in Mauritius.

Before joining and helping build Quantum as CEO, Ashok served as the General Manager of Munich Mauritius Reinsurance Company, a subsidiary of Munich Re (the leading global reinsurer), for 24 years until November 2014. He oversaw the company's reinsurance activities in 44 different countries in sub-Saharan Africa (excluding Southern Africa). Prior to joining Munich Re, he worked in the Pension Department of Scottish Widows’ Fund & Life Assurance Society in Edinburgh, Scotland. He returned home to Mauritius in 1989 to serve as the Insurance Regulator in Mauritius before joining Munich Re.

Ashok holds a BSc (Hons) in Actuarial Mathematics and Statistics from Heriot-Watt University, and is a Fellow of the Faculty of Actuaries in Scotland, United Kingdom.

Devesh B Biltoo, born in 1978, is an Associate of the Chartered Insurance Institute of the United Kingdom. He also holds a BSc. degree in Economics and Mathematics from the University of the Witwatersrand. He has been working extensively in the insurance industry in Mauritius since 2001, particularly in the General Insurance sector. Before joining Quantum Insurance in 2015 as Chief Operations Officer, Devesh successively worked for La Prudence Mauricienne Assurance Ltée as Senior Underwriter before being promoted to Technical Manager, General Insurance Department-Underwriting following the merger with The Mauritius Union Cy. Ltd. He is also an Executive Director of Quantum Insurance.

Viviane Henri, born in 1974, is an Associate of the Chartered Insurance Institute of the United Kingdom. Viviane is in the process of completing an MBA from the Edinburgh Business School, Graduate School of Business of the Heriot-Watt University, Scotland. She has worked extensively in the insurance industry in Mauritius as well as worked for a brief period in the UK insurance industry. Before being appointed as the Underwriting Manager at Quantum Insurance in 2015, she worked successively for Albatross Assurance Co Ltd, Addax Oryx Group Ltd, La Prudence Mauricienne Assurance Ltée, Gras Savoye Brokers and Consultants Ltd. and was also the Assistant Manager Technical Non-Motor Underwriting at The Mauritius Union Cy. Ltd.

Doomesh Fullee, born in 1983, is a member of the Association of Chartered Certified Accountants of the United Kingdom and Mauritius Institute of Professional Accountants (MIPA). He also holds a BSc. degree in Accounting with Information System from University of Mauritius. Doomesh is a results driven, self-motivated and resourceful financial controller with proven ability to provide key financial data, possessing more than 10 years of experience in accounting and finance positions. Before joining Quantum Insurance in 2015 as Financial Controller, he worked as Group Financial Controller for Voyagers Zambia which is one of the biggest travel agencies in Zambia. He has also worked at Hertshten Group Limited as Management Accountant.

 

Our Team

Michael Chow
Senior Underwriter
Zaheer Oaris
Business Development Officer
Vednah Teeluck
Office Administrator
Satyen Seerungum
Senior Underwriter
Fabiola Mortimer
Claims Officer
Stan Larosée
Business Development Officer
Irshaad Gujadhur
Underwriter & Statistical Analyst
Amit Goordoyal
Accountant
David Foo Cheung
IT Officer
Nadisha Rajjoo
Accountant
Hansha Lalsing-Soodoo
Claims Supervisor
Annaelle Lafleur
Receptionist
Manish Dawoodarry
Junior Underwriter
Anish Sooklall
Claims Officer

 

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