Aletehadiya Insurance Company
Capital of the company LYD 10 Millions

Aletehadiya Insurance Company is the first insurance company works under joint liability system in the Islamic vision. It has been established in Misrata city and started practicing its business after the blessed 17th Feb. Revolution.
The company got its legitimacy under the decree of the secretary of economy and trade No. 571/2010 and the decree of business permit No. 732/2010.
The company is represented by several agents and offices in various Libyan cities. It has its own branch offices distributed in many Libyan cities.   
Company's vision:
Aletehadiya Insurance Company is intending to achieve distinction in the insurance field through applying the latest techniques by its highly qualified cadre. It is seeking maintain and identify the concepts of risks and joint liability insurance in the Islamic vision which is based on cooperation and support for providing protection and holding responsibilities between insurance parties. It uses insurance portfolio (joint insurance policy) for compensating its members who suffer from losses. It also invests the funds of the owners of the insurance portfolio jointly bearing profit and loss.
Company's strategy:
Our company has its own work strategy that it is summed up in its message which wells out from the Islamic insurance.
The company's message is briefed as follows:

  1. To root the company's role in inciting development of insurance field in Libya.
  2. To admit the concept of cooperation and support in the insurance field.
  3. To fill the gap in the insurance market and open this scope before local capacities and international cooperation with global organizations in the insurance field.
  4. To create insurance awareness among Libyan citizens, support their economies and provide the Libyan market with necessary experiences.
  5. To render our services according to the Islamic doctrine using the most advanced technology wishing achieve all prospects of our participants.

company's objectives:

  1. To contribute in the insurance market for ensuring achieve social and economic targets of insurance business and promote national income, support national economy and  protect the sources of foreign currency from sneaking abroad.
  2. To support insurance business and enhance it as well as gain insurance experience, build up constructive capabilities, fill gaps of experience and create competitions based on scientific and practical insurance entitlements.
  3. To guarantee safety of financial status of insurance market units and broaden its bases as well as protect the rights of the holders of insurance instruments, the beneficiaries and third parties.
  4. To maintain cooperation and integration relationships with local and international insurance entities through re-insurance and suggest whatever helps in developing this business in the Libyan market.
  5. To create technical foundations and systems for managing joint liability insurance and the principles of accounting and make it bring profits for the investors of the Islamic insurance till it becomes more global because it is based on Islamic principles regarding partnership and funds' management.                        

Insurance and Re-insurance Companies
As many joint liability insurance and re-insurance companies and insurance intermediaries scatter worldwide, our company could select some of such entities to be our partners and benefit from their experience through the good relationships of our staff with these companies.