Insurance
From The Report: Syria 2026
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Syria’s insurance sector is entering a new chapter as the country looks to rebuild and reconnect with international markets after years of conflict and isolation. While the industry remains modest in scale, gross written premium (GWP) nearly doubled in nominal terms in 2024, signalling renewed activity in a market that private insurers have helped diversify since liberalisation began in 2005. With a well-established regulatory framework overseen by the Syrian Insurance Supervisory Commission (SISC), a growing roster of licensed brokers and agents, and specialised administrators supporting the fast-expanding health segment, the foundations are in place for the sector to play a larger role in Syria’s economic recovery.

Articles from this Chapter

Overview

Renewed momentum: Institutional health schemes and specialised administrators drive segment expansion across key lines of business
OBG
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Syria’s insurance sector is entering a new chapter as the country looks to rebuild and reconnect with international markets after years of conflict and isolation. While the industry remains modest in scale, gross written premium (GWP) nearly doubled in nominal terms in 2024, signalling renewed activity in a market that private insurers have helped diversify since liberalisation began in 2005. With a well-established regulatory framework overseen by the Syrian Insurance Supervisory Commission (SISC), a growing roster of licensed brokers and agents, and specialised administrators supporting the fast-expanding health segment, the foundations are…

Analysis

Insuring stability: Regional political tensions have driven sharp repricing across war risk, marine and specialty insurance lines globally
OBG
plus

The Iran conflict and its consequences for maritime traffic through the Strait of Hormuz have laid bare structural weaknesses in global insurance markets that were present long before the first strikes. Within days of the outbreak of conflict in February 2026, war risk premium surged 500%, making transit economically unviable for most commercial operators. The world’s 12 major protection and indemnity clubs, which collectively underwrite the majority of ocean-going vessels, moved rapidly to cancel war cover across the Gulf shortly after the conflict began. Private capacity withdrew at a pace that neither shipowners nor cargo interests had anticipated,…