In 2007, the Government of Afghanistan called on the private sector to create an international style and standard insurance industry.  A group of international investors responded to that call creating the Insurance Corporation of Afghanistan (ICA). Shareholders include experienced, well-established Afghan (S. Sadat Mansoor Naderi), and international businessmen (in the minority). Today, companies owned or operated by these businessmen have annual turnover exceeding $1 billion, worldwide.  Some of the sectors in which the shareholders involved are motor, mining, fuel storage and distribution, transportation, retail, telecom distribution, security, healthcare, construction vehicle maintenance and spare parts and general trading.

 ICA is the first and only private insurance company licensed in Afghanistan. It is staffed and managed by a team of Afghan personnel and highly experienced global class professionals from the London market.


 A 21-member Commission on Growth and Development studied economies that grew at an average rate of 7 percent for at least 25 years looking for solutions to poverty. They found five common elements of success:

 Strong trade and, usually, an eagerness to attract foreign investment A-

  • Political stability
  • Capable governments committed to economic growth;
  • High rates of saving and investment usually 25% of national income;
  • Economic stability, government budgets and inflation under control and avoiding a broad collapse in production;
  • A willingness to “let markets allocate resources,” meaning that governments didn’t try to run industry.

 Foreign Direct Investment is part of all successful free markets. In Afghanistan, FDI creates good jobs. Good jobs contribute greatly to political stability. FDI also brings new standards. In many sectors through the demand for insurance ICA is introducing safety and quality standards (like building codes and occupational safety and health) and benefits programs to Afghan businesses enticing them to adopt best practices that regulators are unable to promote.


 All economies need the support of a sound insurance industry that is regulated in line with international standards and can operate under modern legal framework. Such an insurance industry can help mitigate the risks inherent in the commercial and industrial activities of a developing economy.  ICA is assisting in Afghan economic development by: 

  • Playing an important role in economic development and delivering a full range of insurance products to the marketplace.
  • Reducing risk of doing business and promoting an investment climate that attracts new investment and helps retain capital in Afghanistan that is created by legitimate economic activities.
  • Rebranding Afghanistan by pioneering the insurance business and playing a pivotal role in establishing market relationships in London and other important international markets.


 ICA has been successful in obtaining the support of International Financial Institutions and has secured underwriting commitments in excess of $20 billion from members of the Lloyd’s of London brokers association.  ICA, along with AON, has just completed coverage for the Aynak Copper mine ($3.6bn investment) with the Chinese company MCC.

 ICA believes that this type of collaboration with major multinationals will help provide an acceptable risk environment that will encourage investors and developers to look at Afghanistan’s significant mineral wealth as “actionable” opportunities.

 ICA, in conjunction with some of the largest insurance companies in the world, has developed a full range of insurance products for the Afghan economy and has been able to reduce the cost of reinsurance with major multinationals by insisting on international best practice and by achieving unqualified audits from KPMG every year since inception.


 ICA has just launched two very important products – namely, fleet motor and group health insurance that has been largely unavailable at reasonable cost to companies.

 Additionally, ICA is working with the Afghanistan Banks Association to develop reasonably priced insurance for the collateral required for bank financing.  This encourages lending and overall gives the banks an opportunity to deliver better priced capital to the market.


 ICA provides “market relevant” insurance products and is committed to partnerships with the private and public sector to facilitate economic development, create sustainable jobs and promote commercially viable businesses with professional risk management standards.

 The company assists its clients with risk management and ensures they develop highly competent staff in health and safety to mitigate its own risk but also develop local capacity.

 They offer all forms of commercial coverage to construction, banking, aviation, property, transportation, security and various other sectors.


  •  Constructors All Risk
  • Contractors Plant and Equipment Insurance
  • Group Personal Accident and Key Man Life
  • Fleet Motor
  • Property All Risk
  • Group Health
  • Political Risk and Terrorism
  • Aviation
  • Bankers Blanket Bonds and Insurance for Bank Collateral
  • General Liability
  • Professional Liability
  • Cargo and Transit Insurance

For more information please visit ICA’s official website: