Re-Insurance
1-The sold insurance policies by the company's customers are
internationally guaranteed by a leading insurance and re-insurance company
in the world throughout reinsurance agreements signed by the company in 2005
and it is renewed annually.
2-The leading companies have the capital and insurance Precautions of
billions of dollars and it is prepared to pay its share from the damages
which the company's clients are facing immediately and regardless to the
value of the damages.
3- Names, nationalities and shares of insurance companies that Shatt al-Arab
Insurance company have signed with to insure the agreements of re-insurance
as follows:
|
Company's Name |
Nationality |
The Share |
|
1-Munich Reinsurance
Company |
Germany |
50% |
|
2-Arab insurance Company |
UAE |
12.5% |
|
3-Kuwait Re-insurance
Company |
Kuwait |
8.5% |
|
4-Egypt Re-insurance Company |
Egypt |
7.5% |
|
5-Trans Re-insurance |
Switzerland |
5% |
|
6-Company Axe Re-insurance |
France |
5% |
|
7-The General Indian
Insurance Co |
India |
5% |
|
8-Best Re-insurance |
Lebanon |
2.5% |
|
9-International Trust
Company Ins |
Bahrain |
2.5% |
|
10-Arab Re-insurance Company |
Lebanon |
1.5% |
|
Total |
|
100% |
The company has also expanded the connection scope with the Re-insurance
companies, including SCORE and NASCO French companies and the brokers are
UIB, AON, Willis, in addition to deepening the relations with the Arab
Company and Oman Insurance Company in Dubai.
The company's development since the establishment Insurance for Energy, Oil
and Gas Projects
Our company have a high experience in insuring of oil and gas projects and
it is in a close relationship with the specialized insurance corporations in
this field (industrial explorative and extractive and transformative) , it
have already been issued policies to the Ministry of Oil / South Gas Company
(in the field of insuring different benefits to the employees in addition to
the assets and stores), We are currently negotiating with the Chinese
insurance company (Petro China) to make insurance on the field (Hilfaya -
Maysan) with (Maysan Oil) to issue a pack of insurance policies.
Energy Projects Insurance
Our company has a specialized technical staff and trained in power
insurance, particularly the giant electric power stations with high
capacities, and we are about to enter into this field , we started to
conduct the discussions in this regard. In both of the above insurance types
our company is associated with supportive international companies, including
UIB English Company, Munich Re Company, the German company and Lloyd's
English Authority
Insurance exchange during conservation and transportation
Our company opened up during the last two years on intensifying its presence
in issuing this type of insurance, so Al-Huda bank was our first customer,
then all branches of Al-Taif company for money transfer in Baghdad and its
provinces, and then Al-Aswar and Ata'a Al-Kawthar company both of these
companies are working in the field of banking and money transfer.
Credit Insurance (loans)
In late 2009 our company direction was modest and cautious in issuing all
kinds of loan policies, our beginning was with the Al-Huda Bank in the field
of automobile loans and with the Cooperation of Islamic Regional Bank also
in the field of property and automobile this was followed by our work with
the Middle East Bank in the field of automobile loans as well , then there
was the big step which was implementing insurance on a automobile loans
through a large number of Al-Rafidain bank branches in Baghdad and its
provinces . And recently our company made special loan insurance for
equipment and heavy machines, with the intention of covering similar loans
with several ministries, institutions and companies.
Engineering Insurance
The year 2011 was loaded with issuing a large group of this type of
policies, and in addition to the issued ones for the Civil Contracting
Companies, there was policies that issued for the public sector represented
by the governorate, the provinces of Anbar, Basra, Babil, Maysan, two staff
of Sunni and Shiite Endowment ,and the Iranian Company Worcester .
Health Insurance
our company Intends to issue a new innovative type of policies granted to
the citizens, it will be issued as cards so that possessors can be treated
medically in clinics, hospitals and authoritative doctors of our company for
an insignificant premiums that provides a wide medical protection, and this
insurance is similar to some extent to a similar service provided in some
countries.
Compound Insurance
Because of the existing of critical areas which are characterized by a high
degree of risk, the International Insurance Contributed Companies refuses to
do both coverage and accepting to re-insure it by the Iraqi Companies, our
company has made through the submission of proposals and making extensive
discussions with the private and public insurance Iraqi market companies,
under the Iraq Insurance Association, it took shape for the providing of a
(contentment) conviction among everyone, which resulted in the birth of
several compounds in more than one field cooperated by all insurance
companies, at a certain rates and according to the solvency and conviction
for each of them (our company made sure to be the highest contributed rates)
for the purpose of covering these risks and satisfying the wishes of the
insured in the insurance on their interests and their properties.
The fact that technical professional staff is old and experienced and has a
high experience and competence, it issues insurance policies in an
international terms adopted in this field by a global leading insurance
companies which enabled it frequently in formulating certain types of
policies and with the conditions that are requested by the insured to suit
various developments witnessing by the world of finance, trade, economy and
without violating the basic principles of insurance.
Welcome to Shatt Al-Arab Insurance Company
Welcome in Shatt al-Arab Company for insurance which provides finest and
best solutions for the company's clients, hurry up and make insurance on
your family and your company to obtain an internationally guaranteed service
and with low prices.
