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Gambia National Insurance Co. Ltd.

Contact Address:
GNIC Limited


Banjul area Head Office
19 Kairaba Avenue, Serrekunda
PO Box 750, Banjul
The Gambia, West Africa

Tel no: 4395725
Fax:     4395716

Email:        Policies

The Gambia National Insurance Company Limited was formed in January 1974 as a subsidiary of The Gambia Commercial and Development Bank. It initially only dealt with car cover.

The other stockholders were the Co-operative Union and GPMB. It was formed in order to limit the repatriation of insurance premiums by foreign companies and to support the Government's monetary policies. The company wrote only motor business at that time.

In 1979, The Government passed legislation (The Gambia National Insurance Corporation Act), which established the corporation and took over the liabilities and assets of the company. The justification given were several. Firstly, to enable the Government to monitor the activities of the insurance Corporation. Secondly, to direct the functions of the Corporation for the social benefit of the country. And lastly to work more closely with the Ministry in carrying out Government fiscal and investment policy.

The institution began to diversify by selling other kinds of policies besides vehicle insurance. These included accident, fire and marine. In 1983 the GNIC started to sell Business, Life Travel insurance

In 1989, The Gambia National Insurance Corporation (Repeal) Act was passed which enable the assets and liabilities of The Gambia National Insurance Corporation to be transferred to the Gambia National Insurance Company Limited. The purpose was to facilitate its transfer into private hands.

The daily office operations of GNIC has been carried out from one main office, originally in the Commercial Bank building, then at 78 Wellington St. and, after 1985, in the present building headquarters at 5 Leman Street. A branch office is maintained at Basse in the Upper River Division and another contract branch is operated in Farafenni in the North Bank Division.

Now fully in private hands with all its 1,000,000 shares fully paid up by individuals and businesses the GNIC Ltd. represents a successful privatisation of The Gambia Government’s divesture policy. GNIC has access to Lloyds and the London market through its brokers. This of course has enabled it to underwrite big risks such as large hotels, telecoms structures, etc.

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Insurance Policies Offered:

Motor Car Insurance
This is the most common of GNIC policies and it provide several types of cover for a vehicle owners and motorists.

Contents of private dwelling houses and business premises may be insured against loss or damage arising from burglary.

Fire Insurance
Under the GNIC fire insurance policy, buildings, personal effects and household appliances may be insured against loss or damage caused by an outbreak of fire. They may not succeed in preventing the fire, but if it should occur, they will compensate you adequately for the resulting losses and put you back were you were before the fire. In addition to the basic fire cover, GNIC can also offer you adequate protection against financial loss arising from risks allied to fire outbreak.

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Building Structural Insurance
This cover reinstate an insured building (and / or its walls, gates or fences) damaged by other bodies such as cars, any other road vehicles or animals.

Aircraft Damage
This cover will reinstate an insured building (and / or its gates, walls) damaged by aircraft rockets, aerial devices and /or devices and / or articles dropped from them.

This cover will replace / the insured roof and compensate for consequent damage as a result of windstorm.

Travel Insurance
For the travelers this policy provides a cover for death or injury during travel periods.

Whenever you have to ship any goods, you will need a Marine Insurance Policy. Such a policy will cover risks of loss or damage to the goods at sea or while in transit by inland waterways, roads or rail.

Interruption of Business
In addition to the above loss that fire and its allied perils can cause, tremendous financial losses can befall business institution because of interruption of their business consequent upon these perils. The business interruption or consequential loss policy can reimburse them for loss of gross profit as a result of interruption of business.

Cash in Transit / Cash in Safe
Money is very temping. Therefore when moved from one place to another and whilst kept in a safe or elsewhere, it is susceptible to loss or damage through theft, robbery and many unforeseeable damages through many perils of life. What the cash in Transit/safe policy does for you is to give maximum security by reimbursing you for what has been lost or damaged.

Public Liability Insurance
Every citizen, institution or body of people is under an obligation by law to regulate his/her daily life or activity in such a way as to avoid causing harm (both physical and non-physical) to other persons or their property. If he/she fails in this lawful duty to others, the injured party is entitled to compensation tin the form damages. What the GNIC Public Liability cover does is to help you in paying such compensation should they arise. The policy can also be extended to provide cover for liability arising out of the supply for defective produce and services.

Fidelity Guarantee
You can imagine how much money employers loose every year out of the dishonest fraudulent malpractice of their employees in the cause of their employment. The GNIC fidelity guarantee Insurance is designed to rescue the employer out of this mishap by way of reimbursement.

Employer's Liability /  Compensation
Every employer is under and obligation by law to maintain a healthy and safe working environment so as to avoid employees been injured or contraction disease.

(The Injuries Compensation Act) makes it compulsory with certain exceptions for all employers carrying on business in the Gambia to compensate their employees, for injuries / death in the cause of employment. The Employer’s Liability under this Act is strict because no proof or negligence is required.

Group & Personal Accident
This policy is specially designed to cover death or bodily injury caused by accidental means. It is important to each one of us considering the various types of risks we are all exposed to in our daily lives, at home, work, play, on the roads and anywhere else we can imagine.

The GNIC individual and group policies for employers and families attract a discount on the premium.

Life Assurance
Endowment, Whole Life, Group Life, Term Assurance, Mortgage Protection, Child Education Protection, Family Income, and Accidental Death.

Other Policies:
Consequential Loss of Profits
Contractors All Risks
Erection All Risks
Glass Insurance
Machinery Breakdown
Repatriation Insurance
Performance Bonds


Telephone numbers:

4229785 (Banjul branch)
4228815 (Banjul)
4395725 (Kairaba Av. HQ)
4396508 (Kairaba Av.)
4395726 (Secretary)
4396513 (Finance Director)
4395724 (Serrekunda branch)
5668207 (Basse)
8600477 (Bundung)
5735356 (Farafenni)
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