Syria: Private insurers required to convert into public listed companies
Source: Middle East Insurance Review | Oct 2026
Private insurance companies licensed in Syria are required to amend their legal entity and transform into public companies listed on the Damascus Securities Exchange, to strengthen their governance and capacity to increase capital.
The move is in accordance with a decree issued by the Syrian Insurance Supervisory Commission (SISC) on 9 September. At the end of 2025, there were 13 insurers licensed in Syria, including the state-owned Syrian Insurance Company. Data from the Damascus Securities Exchange shows that six insurance companies are currently listed on the bourse.
The new rule was issued as part of the SISC’s efforts to improve the legislative and regulatory framework. The work includes a review of the draft of the basic constitution of the Syrian Insurance Union and the Union of Insurance Agents and Brokers. This review was carried out during a board meeting in August 2026 that also looked at the insurance sector development strategy for Syria 2027-2030.
The board also discussed the criteria for appointing general managers of insurance companies, ensuring the selection of competent personnel, in addition to supporting the geographical expansion of insurers through reopening branches in Syrian governorates.
Also, the drafting of the general legislative framework for the proposed unified insurance law has been completed and the drafting committee has moved on to iron out technical details. M