Wadaag Insurance

Wadaag Insurance

WADAAG Insurance  is founded on the cooperative principle. Policyholders premiums, which are considered to be donations, form the general fund from which any claims are met. At the end of the year, any remaining cash surplus (after deduction of expenses) is not kept by the company or its shareholders, but returned to the policyholders in the form of cash dividends or distributions.

In this respect, Wadaag insurance business is different from the conventional form in which the shareholders, rather than the policyholders, benefit from the profits generated by the sale of insurance products and services and by insurance investment assets.

  • Insurance investment assets which are represented by insurance funds that accumulate over the retained surpluses reserves, provisions and so on, are invested by the company’s shareholders on behalf of the policyholders under Wadaag Investment. The shareholders are rewarded with a percentage of the profit on these investments, as distinct from the insurance business.

    It follows that Wadaag insurance is founded on the principle of a separation between the funds and operations of shareholders and policyholders, thereby passing the ownership of the insurance funds and operations to the policyholders.

Our Values

  • Our undivided attention is always to our policyholders, the owners of our insurance operations.
  • Our passion for product innovation and service enhancement mirrors our commitment to meeting our customers’ needs and adding value to our products and services.
  • We are growth driven aiming towards setting higher benchmarks in all aspects of our business.
  • We respect our employees, create opportunities for their advancement, and inspire improved performance through a constantly improved reward system.
  • We are committed to spreading Islamic principles to promote solidarity and the spirit of cooperation among all members of the society.


To be the Africa’s premier insurance company by building on our reputation as a leader in product innovation, policyholder and shareholder value maximization and people development.


To maximize policyholder and shareholder value by providing diverse and innovative Insurance products and services and by optimizing the use of resources through competent and caring personnel.

Insurance Policies

Motor Insurance

Wadaag provides three main types of car insurance covers mainly; Taxi Insurance, Motor Compulsory Insurance, Motor Comprehensive Insurance (Own car and Third Party). Each of those types caters to the especial needs and requirements for the insured party.

Taxi Insurance

Taxi Insurance would help all the taxi drivers in Somaliland to pay for damages or losses caused in car accidents, Taxi Insurance only covers limited, and policyholders would be able to pay for it daily or monthly.

Compulsory Insurance (Third party)

Our Motor Compulsory Insurance would help you pay for damages or losses caused in car accidents. This type of insurance covers the damages caused to third parties or any damages to the state’s facilities and amenities.

Comprehensive Car Insurance

On the other hand, Comprehensive Car Insurance covers the expenses of fixing your car as well as the third party’s vehicle in addition to any medical expenses that may rise.

Accidents Insurance

If you want to make sure that you are well-protected in the event of injury, there are different types of coverage which can come into play; such as Wadaag accident insurance. It generally means an insurance of compensation for accidental injury or death, and is the best way for you to protect yourself and your family against the unexpected. Personal accident insurance is an added level of financial protection in the case of serious injury, which will offer you total reassurance.

Health Insurance

Our Health insurance will cover medical expenses that arise due to an illness. These expenses could be related to hospitalization costs, cost of medicines or doctor consultation fees.