Madagascar is the 4th largest island in the world, with a surface area of 587 044 km². Bordered to the west by the Mozambique canal, the closest point to the Mozambican coast is only 400 km away. The population was estimated at 22 million in 2012. Madagascar is rich in diverse and varied resources.
During the colonial period, insurance activities in Madagascar were governed by the French Law of 13 July 1930 and in 1960 motor insurance was made compulsory in accordance with Ordinance No. 60-162 of 3 October 1960. In 1999, the Insurance Code of Madagascar was adopted by the National Assembly and published in the official gazette under law No. 93-013 of 2 August 1999. It enabled the liberalisation of the insurance sector that had been nationalised in June 1975. It is worth noting that the insurance code of Madagascar has several similarities with the CIMA Code.