Munich Re has teamed up with Trust Edge Risk Solutions, Equirus Raghnall Brokers, and Solarelle Insurance to roll out the Maldives’ first insurance product built specifically for epidemic and pandemic risks.
The programme, developed in partnership with the Maldives Association of Tourism Industry (MATI), was officially presented in Malé on 11 September 2025 and takes effect on 15 September.
The policy carries an aggregate limit of $5m and is designed to shield resorts, guesthouses, and other hospitality businesses from financial shocks triggered by widespread health emergencies.
The structure reflects lessons from the Covid-19 crisis, which devastated the Maldives’ economy by halting international travel. Tourism accounts for more than 28% of GDP and supports tens of thousands of jobs, leaving the country particularly exposed when global mobility shuts down.
Senior executives from the partner organisations joined MATI members at the launch event, hosted at JEN Maldives, Malé by Shangri-La. Speakers underscored that while the policy cannot erase uncertainty, it provides a financial safety net that will help resorts and operators weather future outbreaks.
For MATI, which has represented the tourism industry for decades, the new cover is meant to ensure members can access affordable and relevant protection.
Early enrolment was encouraged to secure adequate risk transfer ahead of future shocks.
Industry analysts have described the launch as a milestone in Maldivian risk management.
By embedding epidemic and pandemic coverage into the insurance market, the initiative not only strengthens the resilience of a travel-dependent economy but also bolsters the Maldives’ reputation as a reliable destination for international visitors.
Munich Re’s involvement signals how large reinsurers are experimenting with specialised products that address systemic risks revealed by the pandemic era.
For the Maldives, the policy marks a strategic step toward safeguarding its primary economic engine against disruptions that may no longer be considered once-in-a-century events.
