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
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
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
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.
• 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.
• Building Structural
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
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
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.
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.
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
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.
Loss of Profits
• Glass Insurance
• Machinery Breakdown
• Repatriation Insurance
• Performance Bonds
4229785 (Banjul branch)
4395725 (Kairaba Av. HQ)
4396508 (Kairaba Av.)
4396513 (Finance Director)
4395724 (Serrekunda branch)