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Claim to reconsider a draft merger «national»
27/11/2016 1:49
[rtl]
BAGHDAD / morning
is a theme of the merger of «national« Insurance, »Iraq» and wide interest among specialists in this side and among observers of economic affairs as well as public and private insurers alike.
At a time when the Iraqi insurance company confirmed that the integration of state -owned companies, especially insurance, requires a thorough study of the formation of specialized committees, the fact that the merger is complex and not easy given the nature of the work of the two companies, an expert in the field of insurance lamp Kamal stressed that « to achieve integration requires a decision by the Council manage all of «national« my company and insurance »Iraq» dissolution of the company to prepare for the establishment of the new company.
And the need for the Ministry of Finance commissioned an independent professional view of the financial assessment of companies subject of the merger, saying: Maybe include « the necessary reports and data» All about Bzmm «national« and »Iraq» and other issues , but the Court, even these days, did not issue special instructions to merge companies. »he said Kamal If that is true, the measures announced are about theprocess of « obsession »and not« merger »he said , adding that if there were« extensive studies »they were refer to other options, including the return to allocate the two plenary meetings , as well as the promotion of integration between own to create a financially strong companies insurance companies.
The Iraqi insurance company has confirmed in a statement »Sabah», that the issue of the integration of the national insurance company it will face administrative and legal proceedings take a long time to take years for the completion of the resolution ofadministrative and financial belongings because of the nature of the rules of procedure for each of the two companies in addition to the overall differences in the structure of thetwo companies and the nature of the work of the branches and offices of the two in Baghdad and the provinces.
The statement said that paragraph 2 of Article 50 of the organizing work of the Insurance Act stipulates «the faithful wishing to merge submit a request to the Cabinet attached with all the necessary reports and data specified by the Chief of Staff instructions issued for this purpose», stressing that the company did not apply for the merger was issued by the Court ( insurance Bureau) instructions and did not request any data on Modua.ofattt company in its statement that, based on the rules of procedure of the company «board ofDirectors of the Iraqi insurance company decided not to approve the merger of the fact that the company's profit -making companies that have achieved their plans and did not apply for the merger, but the decision board was a reference to Specialization Ptominac life. »
And saw Kamal, the individual demand for life insurance is weak at present, Maittalb thedevelopment of new products linked to life insurance and the expansion of existing products, including personal health insurance , accidents, and analysis of shifts in thecomposition of the population and its impact on the demand for insurance life insurance products, and per capita income the surplus available to spend on insurance protection, the popular and the position of the insurance, and others.
He noted that the rationale for the merger must be consistent with the requirements of the Iraqi insurance market, and the extent of its contribution to the promotion of anintegrated federal and national market, being a very important economic issue.
Kamal asked for economic or legal necessity for the integration of the two companies Alrabhtin, although they rated territories of the self - financing companies , which covers the salaries of its staff without being a burden on the state.
He noted that the composition of the giant insurance company, within the Iraqi context, itwill affect the situation of small insurers being, make it in a strong competitive position in the face of private insurance companies (a national Iraqi companies) affect the continuation of the recent activity.
He pointed to the importance of the study of data on the two companies in terms ofproduction sources, and the possibility of insured customers and potential shift to other insurance companies, as well as the fates of male and female workers in each of theIraqi National Insurance Company and the insurance company.[/rtl]
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