In 1986, a bomb planted in a bag of meat exploded in a butcher shop in Walvis Bay, killing four people and wounding 24 was one of the first incidents that prompted the birth of NASRIA. The bomb destroyed the butcher shop and broke windows in nearby buildings.
Notably also in 1987 on July 16, a bomb exploded in the parking garage of the Gustav Voigts Centre. No one was hurt in the explosion.
NASRIA was established in October 1987 in response to the cancellation of reinsurance facilities previously available to the conventional insurance market for acts of terrorism and politically motivated acts.
Within six months of its operations, the company received its first claims. The bomb blast at the Oshakati First National Bank branch on 19 February 1988, with a total claim value of N$320 000, was one of the first claims.
Notably, NASRIA’s budgeted premiums for the first year stood at N$10 million despite that early setback signalling a strong insurance company from the onset
Payment claims of over N$27 million of which N$25 million was made to TCL mine due to a strike at the mine in 1996.
Other claims were made to FP Du Toit Transport in which striking people threw stones on a bakkie, Etosha Transport (Pty) Ltd where a truck was damaged in South Africa during a strike, the Free Press of Namibia (Pty) Ltd where street vendors selling newspapers went on strike, damaged newspapers and prevented that newspapers left the premises for selling and Imperial Cargo Namibia (Pty) Ltd where a truck was damaged by protestors throwing stones.
Other claims were that of Swakop Uranium (Pty) Ltd where strikers damaged windows of building during contract talks, Ohlthaver & List Holdings (Pty) Ltd and all subsidiary companies where struggle kids threw stones at vehicle shattering windscreen, Hollard personal lines scheme where the client damaged a car trying to avoid struggle kids and African bush bird where struggle kids threw stones at a vehicle.