In the year 2005 and due to Important changes in the government's financial and economic policy, the Ministry of Finance / Insurance office allowed to issue license and accepting the establishment of Iraqi private Insurance Companies because local and International business trends indicating that such changes will produce successful results provided that such companies will be well managed with highly qualified staff this we hope will enable it to achieve the following aims:
1) To create competition between public and private companies for the benefit of policy holders by providing a better insurance services with appropriate rates.
2) Expanding the market through activating the role of the private sector in the National economy which will reflect positively on the trade and market activities.
3) Direct the available financial resources towards economical uses and direct investment and offering guarantied loans to support the economic sector.
4) Be prepared in anticipation of overall improvement and stability of Iraq and the start of reconstruction to begin normal insurance activities locally and worldwide.