Al-Thawra: Ten insurance companies to operate in Syrian market

Director General of the Supervisory Board on Insurance in Syria Abdullatif Abboud stressed that more than 10 Arab and foreign insurance companies are expected to apply for licenses to establish private-owned insurance companies in the country.

"Representatives of several Arab and foreign firms have visited Syria since issuing the law of insurance, and all of them expressed clear desire to enter Syria's insurance market," Abboud said in a statement published Tuesday by 'al-Thawra' daily newspaper.

He added that the Orient Company which is affiliated to 'al-Fateem Group' in the UAE, Al-Arabia Company in Beirut, A. X. A Company and U.F. A. world Company, in addition to Qatari companies expressed keen desire to invest and work in Syria.

Abboud underlined that discussions were held between representatives of insurance companies and an Italian mediation on Italy's ability to carry out investments in the insurance sector in Syria. He said other negotiations were also held with the Arab Lebanese Insurance Company, owned by Awdeh Bank in this regard.