Al-Barouni: Al-Baraka Insurance Provided Coverage for the Airline and Resolved Its Crisis, but the Supervisory Authority Was Unfair

The Chairman of the Board of Directors of Al-Baraka Insurance Company, Yahya Al-Barouni, stated to our source that, according to the official correspondence concerning the company, Al-Baraka Insurance was established in 2022 and began operations in 2023 with a new vision focused on incorporating technology into its business. He explained that the company implemented the first electronic linkage between online banking services and an insurance mobile application.

Al-Barouni added that regarding airlines, Al-Baraka Insurance provides coverage for Global Air, Taj Air, and Al-Massa Air.

He continued, “On Thursday, June 27, 2025, during the Hajj pilgrims’ return season, Afriqiyah Airways contacted us and informed us that they had a major problem — their previous insurer, Libya Insurance Company, had sent them a notice canceling their coverage while the pilgrims were already on board the planes. They asked us to ‘find a solution,’ and we managed to provide immediate coverage for them.”

Al-Barouni further stated, “Unfortunately, instead of encouraging us, the Insurance Supervisory Authority took a stand against us in favor of Libya Insurance Company, which is an unfair position.”

He explained that the issue was between Afriqiyah Airways and Libya Insurance Company. The broker affiliated with Libya Insurance sent the company a notification that the coverage would be stopped on the 16th, while Afriqiyah Airways was only informed on the 26th. “This means that Afriqiyah Airways was without insurance coverage for a period before being insured by us — and this is documented in papers, records, and emails.”

He went on to say, “We submitted to the Insurance Authority a full reinsurance certificate covering all liabilities and requested them to transfer the first payment to the reinsurer, since they are the supervisory body through which we obtain approvals before transferring funds to the Central Bank of Libya. However, they refused to grant us permission, so we completed the transfer from one of our private accounts.”

Al-Barouni questioned whether personal interests were being prioritized over the public good in some decisions, noting that Hisham Al-Deeb is the one leading Afriqiyah Airways’ efforts on this matter, while Ahmed Al-Deeb — a relative of his — serves as the Director of the Insurance Supervisory Authority.

He added, “We are not making a direct accusation, but it is legitimate to ask: could this family connection have influenced the neutrality of the stance?”

Al-Barouni concluded, “Our procedures are entirely sound and in full compliance with international aviation insurance standards. Al-Baraka Insurance Company is also taking all necessary legal measures to protect its legitimate rights in accordance with the law.”