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