By Goth Mohamed Goth
HARGEISA, Somaliland – The National Insurance Agency (NIA) convened a pivotal meeting today, July 28, 2026, at Visionary House, focusing on two fundamental pillars aimed at restructuring and advancing the country’s insurance market.
The meeting was chaired by the Agency’s Chairman, Mr. Ahmed Hirsi Du’ale, alongside Deputy Chairman Mr. Abdiraashid Mohamed Saleebaan. It brought together representatives from insurance companies, Agency officials, and members of the Agency’s Board of Directors.
The primary objectives of the gathering were to approve the Insurance Services Licensing Guidelines and to conduct consultations on the draft Motor Insurance Regulation.
Addressing the assembly, Agency officials delivered in-depth briefings on the significant impact these frameworks are expected to have on the domestic insurance market. They emphasized that the new guidelines and regulations will fundamentally transform market practices, playing a crucial role in the systematic regulation and sustainable development of the industry.
The meeting concluded with a unanimous consensus among stakeholders, who formally approved the Licensing Guidelines. Additionally, it was agreed that valuable insights and recommendations arising from the motor insurance consultation would be incorporated into the draft regulation prior to its official enactment and implementation.
