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بوابة الوسط
Libya unveils first reinsurance rules in 20 years
The Ministry of Economy and Commerce in Libya has issued its first comprehensive reinsurance framework in over 20 years, aiming to regulate the reinsurance market, enhance risk management, and improve the financial stability of insurance companies. Decree No. (374) of 2026 sets standards for solvency, credit ratings, and governance. Its goal is to strengthen the stability of the financial sector and boost investor confidence by organizing how local insurance companies deal with reinsurance firms in accordance with international practices. This update is part of a broader plan to modernize Libyan legislation and align the market environment with global standards.
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