Analyzing the reality and indicators of the insurance sector in Syria during the period 2008-2019

Abstract

Despite the increasing interest in the insurance industry in Syria as a pioneering sector in the process of economic and social development, its importance is limited to being a means of accumulating and investing capital, and a means of providing security and protection for the insured, and its contribution to the GDP is still very limited.

Legislative Decree No. 43 of 2005, which regulates the insurance market in Syria, had a great impact in attracting more capital to invest in the insurance sector, as well as recovering part of the immigrant capital, as the private companies that carried out their work in Syria contributed to improving the reality of this sector However,  until now, this has not been the way it should, as this sector faced many difficulties, some of which were subjective, and others related to the circumstances of the war on Syria, and to the economic and social conditions.

The aim of this research is to analyze the reality of the insurance sector in Syria, and to identify the difficulties that impede its development, in order to present a set of proposals to the decision-maker in the government and in the companies operating in this sector. Therefore, these proposals can be arranged in a timetable to be set according to their importance and according to the availability of financial capabilities.