Less than 1% of Malgasy protect themselves with insurance.

The Tribune says, ?The Insurance business is one of the strong performers and is definitely a growing concern. In an area showing real market growth, don?t expect the newly established operations to gainsay themselves. Lack of market penetration is their real problem where micro-credit is yet a new concept.? The Tribune reminds us, ?Insurance is a totally open business here. Since 1999, new law has opened this marketplace to the entrepreneur. Besides companies such as Ny Havana, Aro, Mama, two new foreign companies have been licensed to operate in the Madagascar in 2005. They are, General Insurance of France, AGF, and an African company named Colinas.? The author of the article specifies that the market penetration is still less than 1% and was measured at 0.54% in 2003.