The Namibia Special Risks Insurance Association (NASRIA) is pleased to announce another year of strong financial performance, operational excellence, and progress in strategic initiatives aimed at national and regional growth.
- NASRIA received an unqualified audit opinion for 2024/2025, maintaining its proud record of clean audits since inception.
- Revenue Growth: Insurance revenue increased by 6%, from N$84 million to N$89 million, driven by new business and renewals.
- Insurance Service Results: Decreased by 23% to N$45 million, mainly due to increased insurance costs.
- Total Assets: As of 31 March 2025, total assets stood at N$960 million, surpassing N$1 billion for the first time in June 2025.
- Reserves: Increased from N$801 million to N$870 million, reflecting higher profitability.
- Liabilities: Grew by 37% to N$92 million, consistent with overall asset growth.
- Dividend: NASRIA shall pay a dividend of N$16 million to its sole shareholder, the Government of the Republic of Namibia.
- NASRIA has established a special risk insurance entity in Botswana, trading as BOSRIA, aligning with the government’s call for regional expansion by state-owned enterprises.
- BOSRIA will enhance NASRIA’s regional footprint and provide cross-border cover for Namibian businesses operating in Botswana.
- NASRIA invested over N$437,000.00 in 13 social projects across the country (regions), focusing mainly on agriculture, education, health and community upliftment.
- NASRIA has strengthened PEGA compliance, conducted its first Board Evaluation, and continues to improve overall institutional governance through programs such as succession planning and leadership developments.
NASRIA remains financially sound, well-governed, and committed to supporting Namibia’s economic resilience through innovative insurance solutions, responsible investments, and strategic regional expansion.
