Private insurance companies licensed in Syria are required to amend their legal entity and transform into public joint-stock companies listed on the Damascus Securities Exchange.
The move is in accordance with Decree No. 78/100/26 issued by the Syrian Insurance Supervisory Commission (SISC) on 9 September.
Under the decision, companies have 18 months from the date of its issuance of the decree to comply with the requirement regarding legal, financial and administrative status.
Mr Yisr Barnieh, Syrian Minister of Finance and Chairman of SISC, said on his LinkedIn page, “This is a significant step we have actively pursued. It will strengthen insurance company governance and their capacity to increase capital, while supporting the development of Syria’s insurance sector. Furthermore, it will have positive repercussions by increasing the supply of securities and broadening the scope of ownership.”
He added, “At the Ministry of Finance, we will consider facilitating the revaluation of these companies' assets to support this objective.”
As of the end of 2025, there were 13 insurance companies licensed in Syria, including the state-owned insurer Syrian Insurance Company. Data from the Damascus Securities Exchange shows that six insurance companies are listed on the exchange.