The Insurance Association of The Gambia was formed on 11th August 1987 by Insurance Companies operating in the industry to service as a representation and advocy body for the Insurance Industry of the Gambia.
The founding member companies are Gambia National Insurance Co. Ltd, Capital Insurance Co. Ltd and Senegambia Insurance Co. LTD, under the leadership of their Chief Executive namely: Mr. Omar Dibba of GNIC, Mr. Dodou Taal of Capital Insurance Co. Ltd and Mr. Babou A.M Cisse of Senegambia Insurance Co. Ltd. respectively.
A constitution was drafted by interim Committee and adopted in which the objective of the Association to bring together Insurance, Reinsurance, Insurance Brokers and other agencies transacting insurance business in the Gambia for the purpose of:
- To provide insurance education with a view to increasing awareness and enhance the public image of the industry.
- To promote the development of insurance services.
- To create and maintain a closer cooperation between members.
- To provide a forum to discuss mutual problems of the industry and arrive at firm resolutions.
- To encourage and facilitate the exchange of information and experience among members
- To take the necessary steps which are in the interest of members for promoting the objectives of the Association.
- To encourage the exchange of Insurance business between members in a bid to conserve foreign exchange and cut down on insurance costs.
- To consult and co-operate with other Association or similar bodies on matters of mutual interest and affiliate with all insurance bodies within The Gambia and abroad.
The Association elects an executive committee every two years at an annual general meeting, which is attended by delegates from all member companies. The executive committee meets once every quarter and is headed by a president. The president assisted by the Secretary General who is responsible for the implementation of the decisions of the executive committee.
Further to the emergence of new companies in the industry which led to an increase in membership of the IAG, a Permanent Secretariat was established on 1st September 2000. A full-time Secretary General was employed and charged with the overall administration of the secretariat.
The President and Vice President of the board are appointed by the other board members. The president or in his absence the vice-president are assisted by the secretary general in the day to day administration of the association.
The membership of the IAG comprises all the eleven companies in the Market.
Mr. Molifa Sanneh – Secretary General: He is the chief executive officer of the secretariat and is responsible for implementing the decisions of the executive committee. The secretary general is permanently employed to run the administrative
Mr. Makaireh Badjan – President IAG: He is the president of the executive committee which comprises of all the chief executive officers/managing directors of member companies and is the highest decision making body of the secretariat.