Asia Insurance Company is the insurance arm of Faruk Investment Group (FIG) which thrives to develop the Iraqi Insurance market to become one of the largest in the region. Our paid-up capital is $30B, FGH and its partners are the largest shareholders with 70% share. We deal with the world’s largest top-rated reinsurers mainly Swiss Re and Munich Re providing the highest level of security to our clients. 

Our full- edged capacity and expertise empower us to face the competitive demands of the market and further expand into new lines of business and adopt innovative methods of distribution. We are a customer-centric company, with a strong-minded focus on service. We put our long-term client relationships at the heart of our business, providing excellent customer service and unmatched convenience is our non- negotiable objective.

Our range of insurance services spans across major categories, including:

•                    Property insurance
•                    General accident
•                    Engineering insurance
•                    Energy insurance
•                    Aviation insurance
•                    Travel insurance
•                    Marine insurance
•                    Motor insurance
•                    Health insurance

Each of these categories represents a specialized facet of our insurance portfolio, meticulously designed to safeguard our clients against an extensive array of potential risks and uncertainties.

Example of what we offer:

Property Insurance
Providing indemnity for material damage to the insured property resulting from various perils such as fire, lightning, aircraft, explosion, earthquake, strike, riot, civil commotion, malicious damage, storm, tempest, flood, earthquake, bursting of water apparatus (including sprinkler leakage), theft or attempted theft (by violent and forcible entry to or exit from the premises) and accidental loss or damage. Various policies are available to cater for various budgets and insurance requirements:

Fire and Allied Perils Insurance
Burglary
Property All Risks
Hotels All Risks
Political Violence including Terrorism.
Business Interruption
Home Guard & Business Guard Policies

Marine Insurance
Asia Insurance provides its clients with exceptional marine insurance through a dedicated Marine Department that offers the following types of Insurance:

Cargo: 
covers loss or damage of goods transited by air, sea, or road. We can provide tailor-made marine cargo policies to match business needs. We also offer war and strikes risks, land transit, courier and parcel post, hauler’s liability, freight forwarders liability, project cargos and stock throughputs.

Marine Hull
concerns the insurance of all types of vessels against total, partial losses, and liability.

Asia Insurance Company caters to a diverse clientele, providing tailored insurance solutions across various sectors within the Kurdistan Region and Iraq. Our clientele encompasses corporate entities, such as Non-governmental Organizations (NGOs), companies, and factories, alongside over tens of thousand individuals insured members across the Kurdistan Region and Iraq. 

Asia Insurance holds a leading position within the Iraqi insurance market, boasting a significant market presence with 46 billion Iraqi dinars in written premiums. Our partnerships guarantee the utmost security for our insured members. Our commitment to superior service sets us apart.
According to recent data, Asia Insurance leads a 15% market share in the Iraqi insurance sector, inclusive of both private and public spheres. Remarkably, our stronghold in the private sector accounts for a substantial 40% market share.

For an insurance-centric business such as Asia Insurance, robust after-sales support for our clients remains pivotal in ensuring customer satisfaction and retention.

Our strategy revolves around presenting comprehensive coverage options at competitive prices while actively fostering insurance awareness to generate interest and demand within our target segments. Our differentiation manifests through the delivery of superior services, setting a benchmark for excellence.

It is noteworthy to highlight that Asia Insurance Company has been honored with multiple recognitions and awards, notably:

IICE 2018 Iraq insurance conference and exhibition
Best regional non-life insurance brand - 2019
International Finance Award for best non-life insurance company Iraq - 2022
ISO 9001 Certification worldwide accreditation – 2023

Find more information by visiting Asia Insurance Company’s official website below.