The Syrian Insurance Federation (SIF) and the Syrian Insurance Agents and Brokers Federation (SIABF) have been dissolved.
In a recent decision, the Syrian Minister of Finance Yisr Barnieh announced the dissolution of the Syrian Insurance Federation (SIF) and the Syrian Insurance Agents and Brokers Federation (SIABF), as part of a comprehensive national strategy to reform the insurance sector and improve its role in serving the Syrian economy.
The decision to dissolve the two federations was made following the request submitted by the majority of licensed insurance companies in Syria and in the public interest, according to the Ministerial Decree No. 52-2025.
A temporary committee consisting of Messrs Bassel Abboud, Izzat Estwany, and Ammar Nasser Agha has been tasked with managing the affairs of the SIF and convening an extraordinary general assembly meeting within a maximum period of 60 days to elect a new board of directors.
The decree also directs the Syrian Insurance Supervisory Commission (SISC), in cooperation with the interim committee, to prepare a draft of a new statute for the federation.
The same instructions were conveyed to a committee to handle the affairs of the SIABF. The committee consists of Ms Reem Al-Jamal, Mr George Sarhan, and Ms Nour Qoqou.
Minister Barnie, who is also the chairman of the SISC, said, "We want to partner (with all stakeholders) in upgrading the insurance sector, establishing international standards and best practices, fighting corruption and strengthening governance, which would contribute to (achieving) a significant leap in the size of the Syrian insurance market.”
He added, “We have developed an ambitious and comprehensive national strategy, which we will announce soon.”