The Libyan Insurance Federation (LIF) has signed a strategic cooperation protocol with Tunisia's STAR Assurances (Societe Tunisienne d'Assurances et de Reassurances) and the African Insurance Institute (IAA).
The agreement covers training, the exchange of experiences and capacity building in the insurance sector, according to separate statements posted by the LIF and IAA. It aims to establish institutional cooperation on the design and implementation of specialised training and qualification programmes offered by the IAA for professionals in the Libyan market.
The protocol reflects the Libyan Insurance Federation’s keenness to develop professional competencies in the Libyan insurance market, and to be open to leading regional and international experiences, to advance the insurance industry in Libya and strengthen cooperation between insurance institutions in the region.
The LIF was established as a non-profit professional organisation under a 2005 law and includes insurance companies operating in Libya. Its goal is to develop the insurance sector, represent its member insurance companies, and promote cooperation among them. The Federation contributes to raising the professional and technical level of the insurance industry, spreading insurance awareness, and contributing to protecting the rights of customers.
The IAA was created by STAR in 1967 to promote the insurance sector in Tunisia and spread the insurance culture in Africa.