.Union International Insurance co

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About Union

 

Company Establishment:

In 2005, a number of prominent businessmen studied the state of the Iraqi market in general, and the insurance market in particular, and the need for private sector insurance companies. They agreed to establish an insurance company with distinguished relationships and activities to help fill the gap created by the market’s need for efficient and quality insurance companies. Accordingly, Union International Insurance Co. (Private Joint Stock) was established on 23/102005, pursuant to Certificate of Incorporation No. 29175 dated 18/04/2006. The company name and logo were chosen to promote the spirit of cooperation and unity in serving citizens and increasing insurance awareness.

Company Objectives

upporting the national economy and providing the best services to the local market, in addition to offering quality services and ensuring quick and fair compensation settlements.
We aim to meet the needs of the commercial and industrial sectors, as well as to improve and modernize insurance services in all fields for the benefit of both society and the company.

We strive to expand our operations to cover all provinces of Iraq. Our technical expertise and market knowledge will serve as our foundation for a better future and will help us achieve the following objectives:

  • Creating competition between public and private insurance companies. If all companies operating in the market adhere to technical and legal standards, this competition will benefit both the citizens and the national economy — especially considering that Iraq is a large country capable of accommodating a diverse range of operating companies.
  • Providing the best insurance services at reasonable and more realistic prices than if they were imposed by a single entity.
  • Expanding the market by increasing and diversifying the services offered, which leads to revitalizing the role of the insurance sector in the national economy and enhancing market and business efficiency.
  • Directing available financial resources toward economic uses through direct investment.
  • Playing an important role in the fields of economic development by contributing to the protection of individuals, the continuity of production, and the preservation of property.

The Motivation Behind the Establishment of the Company

In line with the directives of the Ministry of Finance – Insurance Bureau – approving the establishment of companies by the private sector in Iraq, and based on local and international economic studies and indicators confirming the success of such initiatives, especially when paired with competent and experienced management, our company was founded.

Our company indeed stands out in this regard. It has succeeded in becoming one of the leading insurance companies in Iraq, fulfilling its promises to shareholders and clients alike. This achievement is thanks to the dedicated efforts of our staff and a team specialized in insurance and reinsurance