The Namibia guide in full
Who regulates insurance in Namibia
NAMFISA registers and supervises insurers, medical aid funds, agents and brokers. Since 1 May 2026 the rules are in the Financial Institutions and Markets Act 2 of 2021 (FIMA), which replaced the Short-term Insurance Act 4 of 1998 and the Long-term Insurance Act 5 of 1998 (NAMFISA public notice, 11 June 2026).
Section 5(1) of FIMA: no one may carry on the business of insurance or reinsurance in Namibia unless registered (or deemed registered). Insurance agents and brokers who are paid for their work must be registered too (section 54). More: NAMFISA and the FIM Act.
The Namibian insurance market in figures
From the NAMFISA Annual Report 2025 (figures at 31 December 2024):
| Indicator | Figure |
|---|---|
| Long-term insurance: gross written premium, 2024 | N$14.4 billion (+26.8%) |
| Long-term insurers: total assets | N$83.8 billion (+12.9%) |
| Short-term insurance: gross written premium, 2024 | N$5.5 billion (+18.1%) |
| Short-term insurers: total assets | N$9.1 billion (+17.8%) |
| Medical aid funds: beneficiaries | 219,790 (+1.9%) |
| Medical aid funds: healthcare expenditure | N$5.1 billion, N$23,205 per beneficiary a year |
| Complaints received by NAMFISA, all industries, 2024 | 373, of which 96% resolved |
Amounts are in Namibia dollars. The Namibia dollar is pegged one-to-one to the South African rand, and the rand is also legal tender in Namibia (Bank of Namibia).
Where to start
| You want to… | Read |
|---|---|
| Claim after a road accident | The MVA Fund · MVA claim deadline calculator |
| Insure a car | Motor insurance · Third-party vs comprehensive |
| Understand health cover | Medical aid funds · SSC maternity, sick leave and death benefits |
| Protect a family | Life insurance · Funeral cover |
| Insure a home or a business | Home insurance · Business insurance and employees' compensation |
| Check an insurer or complain | Registered insurers · Check an insurer, agent or broker · Complaints to NAMFISA |
Frequently asked questions
Is car insurance compulsory in Namibia?
Drivers do not buy a compulsory third-party policy. Injuries and deaths on the road are covered by the MVA Fund under the Motor Vehicle Accident Fund Act 10 of 2007, financed by a fuel levy. Damage to cars and property needs private motor insurance. See the MVA Fund.
Who regulates insurance companies in Namibia?
NAMFISA, the Namibia Financial Institutions Supervisory Authority, under the Financial Institutions and Markets Act 2 of 2021, in force since 1 May 2026.
How many insurance companies are there in Namibia?
NAMFISA's register retrieved on 31 October 2026 lists 14 short-term insurers, 15 long-term insurers, 7 medical aid funds, one reinsurer (NamibRe) and Lloyd's. See the full list.
Where do I complain about an insurer in Namibia?
To the insurer in writing first, then to NAMFISA's Complaints Department: 061 290 5134, toll-free 0800 290 500, complaintsdept@namfisa.com.na. See how to complain.
Sources
- Financial Institutions and Markets Act 2 of 2021 — annotated Gazette text, Legal Assistance Centre (in force from 1 May 2026, GN 147/2026, GG 8901, with five exceptions)
- NAMFISA — Public notice: financial intermediaries in terms of FIMA (11 June 2026)
- NAMFISA — Registered institutions and intermediaries (register retrieved 31 October 2026)
- NAMFISA — Annual Report 2025 (figures at 31 December 2024)
- Motor Vehicle Accident Fund Act 10 of 2007 (Government Gazette No. 3970, 28 December 2007) — MVA Fund copy
- MVA Fund — Frequently asked questions
- Bank of Namibia — FAQ: roles of the Bank (Namibia dollar pegged one-to-one to the rand)
- NAMFISA — Consumer complaints