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The start of the merger of «national» Insurance, «Iraq»
4/10/2016 0:00
[rtl]In order to increase their money capital and expand insurance covers
BAGHDAD - Mostafa Hashemi
play insurance companies, as the economic mainstay in all countries of the world, a vital role because they are the most prominent contributors to the funding and establishment of development and service projects and investment, especially if its development -oriented, as it represents a merger with each other an increase in the heads funds enabling it to increase its activity and the strength of the insurance lids granted in various fields.
Because of economic conditions experienced by Iraq, after extensive studies, the need emerged merger of two magnets of the largest insurance companies in the country, namely the national insurance company of Iraq and the insurance company, especially the elements and conditions of the merger are available , especially that the two companies that own financial solvency high, which will expand its insurance capabilities of the new company after the merger.
merger of the two companies
announced a source in the office of insurance "morning" to begin legal proceedings for the merger of the national two insurance Iraqi insurance company which would feminine government insurance and reduced government company and one of the various acts of the insurance sector.
for his part , the competent expert on insurance issues Saadoun problem, the benefits ofthis merger , saying: "carries integration Iraqi insurance company with a national insurance company has many dimensions, of which he first softens the slack in thegovernment sector what is a serious step in the reform of the insurance sector , which fell significantly during the nineties of the last century. "
capital
and said the problem in an interview for the " morning "," the second dimension , which holds the merger is to increase the two companies' capital, which enhances the chances of granting insurance covers especially including compensation, since the large capital would intervene actively in the aspects of
economic. "
According to Article (50 / I) of the Law on insurance Regulatory No. 10 of 2005 , " may be a believer merger or forwarder secure in locked or forwarder Last securing including so believers or Forwarders insurance Almmlokon of the state. "
goals of the merger
and pointed out that the merger of the two giants and one company will give an incentive for investment companies to enter Iraq and insurance projects within the country, requires reconsideration paragraph insurance in the investment Law No. 13 of 2006, asamended , in line with the objectives of integration between the
two companies.
insurance sector in Iraq represents three insurance companies and government, we are all from the national insurance company, the Iraqi and the insurance company, and re -insurance company, along with 29 companies of civil securing two branches of insurance companies ,
foreign.
and saw the problem that the idea of merger of the two companies probably will encourage the merger of a number of private insurance companies so as to enhance competition between private sector companies and the new company.
and the integration of the civil insurers with each other and the possibility to achieve aclearer competent in economic affairs Firas Amer, " The circumstances through which thecountry requires to do to achieve the supreme economic interest of Iraq, and as the private companies "civil ownership , " it is difficult to persuade them to integrate the fact that the company Doe difficult to work under the leadership of other Fulani company. "
suffer the insurance sector in Iraq since the years nineties of the last century from theeffects of war and the effects of international sanctions and policies reckless regime dictatorial, and exacerbated the suffering of the increasing lack of insurance awareness the lack of public knowledge of the real role played by insurance companies in theAlaguetsad.oary Amer need for the insurance companies, government or civil, according to high international standards for safety for the insured to them, and that has the ability to withstand risks of insurance and coverage in full, explaining that it is through ask an insurance confirms excellent service quality with the best possible products and competitive pricing levels.[/rtl]
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