The long-term insurance (LTI) subsector in Namibia maintained sound financial stability in 2025, with solvency, liquidity and capital adequacy metrics within their normal historical ranges, according to the April 2026 Financial Stability Report released by the Bank of Namibia and the Namibia Financial Institutions Suprevisory Authority (NAMFISA).
The short-term insurance sector in Namibia posted a combined net profit before tax of NAD762.3m ($44.1m) for the year ended 31 December 2024, according to the Namibia Financial Institutions Supervisory Authority (NAMFISA). This represents a 9.6% increase over 2023.
Namibia's long-term insurance industry's profit before tax surged by 64.4% to NAD4.2bn ($242m) in 2024, according to the Namibia Financial Institutions Supervisory Authority (NAMFISA).
Moody's Ratings (Moody's) has changed the outlook on state-owned Namibia National Reinsurance Corporation (NamibRe) to 'Positive' from 'Stable'. Concurrently, Moody's has affirmed NamibRe's 'B1' insurance financial strength rating (IFSR), as well as its 'b1' Baseline Credit Assessment (BCA).
The Namibia Special Risks Insurance Association (Nasria) is set to introduce Weather Index Based Livestock Insurance (WIBLI).
Namibia Special Risks Insurance Association (NASRIA) will launch a farmers' insurance scheme in October, to protect farmers against loss of livestock or crops due to drought, flood, or wild animal attacks, among other things.
Five out of nine countries in Africa posted real growth of at least 7% in terms of premium income in 2021, according to data compiled by Swiss Re Institute.
Sanlam-already the largest non-banking financial services company in Africa-and Allianz, one of the world's leading insurers, have agreed to combine their operations across Africa to create the largest pan-African non-banking financial services entity on the continent.
The Bank of Namibia (BoN) and the Namibia Financial Institutions Supervisory Authority (Namfisa) have announced the scrapping of a requirement for single credit insurance policy to be assigned to one loan or credit facility.
A local specialist insurer is seeking to expand to the agricultural sector, to protect herders and farmers affected by natural disasters such as drought.