1. O f f i c e A d d r e s s : O p p o s i t e S h a n a d a r P a r k , M e h a t a S t r e e t , Z a n i a r y Q u a r t e r , E r b i l , K u r d i s t a n R e g i o n , I r a q
P . O . B o x # 1 1 2 - 6 2 A r b i l – I r a q : + 9 6 4 7 5 0 8 9 0 9 0 0 7 , + 9 6 4 7 5 0 8 9 0 9 0 0 8
U R I N T E R N AT I O N A L I N S U R A N C E C O M PA N Y
CORPORATE PROFILE
2. IRAQ AND THE LOCAL INSURANCE SECTOR
The operation of Iraq’s insurance sector is governed by the Insurance Business
Regulation Act of 2005 (IBR) thru “Diwan”, an independent body supervising policies
and procedures concerning the insurance industry. It was appropriately established to
guide the industry moving forward. Diwan’s objectives are to regulate and oversee the
insurance sector, to assure industry development, provide industry transparency,
protection of individuals and property and the accumulation and growth of national
savings in order to support economic development.
Iraq is widely considered as an emerging market with an untapped portfolio of
potential clients ranging from small, medium and large-scale companies. It’s market
however needs to be educated with the knowledge, awareness and interest of
insurance and on how it can benefit them and develop products accompanied by
unique service offerings.
2 0 1 6 C o r p o r a t e P r o f i l e
3. ECONOMIC INDICATORS
2 0 1 6 C o r p o r a t e P r o f i l e
Source: 2013 Mena Insurance Directory
Key economic indicators show positive
results as Iraq continually perceived with
high hopes. At the onset of the year 2012,
robust economic activity is witnessed as
mega-projects are spearheaded in
revitalizing war-torn areas, energy, oil and
trade conferences were held in efforts to
bring back interest and confidence in the
country’s ability to spring back from
turbulent socio-economic conditions.
4. ERBILAT A GLANCE
2 0 1 6 C o r p o r a t e P r o f i l e
Erbil is the fourth largest city
in Iraq after Baghdad, Basra and Mosul. It is
the capital of Iraqi Kurdistan. The Erbil
metropolitan area stands out from the crowd
as a center of international trade. The region
combines transport and logistics expertise
with an in-depth knowledge of all the relevant
middle-East and European markets.
The Kurdistan Region is autonomous region in
federal Iraq. It borders Syria to the west, Iran
to the east and Turkey to the north. Its stable
security situation is developing itself as an
attractive business hub and is considered as
the emerging market to look out for in the
coming years with its potential for a wide
range of business opportunities.
References: www.krg.org (Kurdistan Regional Government) and www.ierbil.com
5. URIIC’s INCORPORATION
2 0 1 6 C o r p o r a t e P r o f i l e
UR International Insurance Company
(URIIC) was incorporated on 22nd June,
2010 with its Headquarters situated in the
historical city of Erbil in Iraq. It has a
preliminary capital of IQD 2,250,000,000
and is an established insurance company
which brings with it, the history and
experience of its promoters.
It has a shareholder base of reputable
individuals and institutions reflecting
various backgrounds from local, regional
and international markets.
URIIC brings global experience in the
services it provides the market with the
local insurance requirements with that of
international standards.
6. Our VISION is to become
“the Leading Insurance Provider” in the region. It is equipped with a
customer service oriented workforce comprised of a growing team professionals who
will assist in ensuring tailor-fit insurance solutions gathered through risk-management
and loss-surveying.
Our MISSION is to reinforce our position in the market as the leading
insurance provider through the delivery of the highest standard of quality products
and services to our customers in a consistent and disciplined manner.
OUR COMMITTMENT
2 0 1 6 C o r p o r a t e P r o f i l e
8. Fastest Growing Iraqi Insurer
International A Rated Reinsurers
Wide Network Coverage
Professional Technical Team
Well Strategized Marketing Campaigns
Wise Investment Strategies
Well Supported by Regional Partners
WHY CHOOSE URIIC?
2 0 1 6 C o r p o r a t e P r o f i l e
Despite being a new entrant in the Iraqi insurance market, URIIC successfully built
consumer confidence as reflected in the company’s rapid growth. Within a span of 2
years from its establishment in 2010 our client portfolio has grown to more than 600
customers up to Q1 of 2013.
9. OURMAIN FOCUS
2 0 1 6 C o r p o r a t e P r o f i l e
1. Long term growth and profitability
2. Complete and innovative product
range
3. Provide unique, consistent quality
service
4. Prudent underwriting
5. Promote security and peace of
mind
10. CORPORATESOLUTIONS
2 0 1 6 C o r p o r a t e P r o f i l e
Step 1
Evaluate the
existing
insurance
program
Step 2
Examine &
obtain the
client’s
organizations
Step 3
Determine
the future
insurance
program
Step 4
Formulate an
optimal
insurance
solution &
risk
management
program
Step 5
Provide
service with a
professional
& personal
caring touch
Our methodology is a Five Stage Process to achieve the desired objectives.
11. THE CORE TEAM
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MR. AHMED SALAHUDIN
Information Technology
Email: a.salah@uriic.net
DR. HAYTHAM ABU EL ONIEN
General Manager
Email: h.onien@uriic.net
OPERATIONS
(SUPPORT)
MR. DANIEL P. NARAG
Underwriting Officer – General Insurance
Email: d.narag@uriic.net
MS. VIAN JAFF
Travel Underwriting Assistant
Email: ur@uriic.net
MR. SHERIF DIAB
Accountant
Email: sh.ahmed@uriic.net
MR. ROLAN BABAN
Operations Manager
Email: r.baban@uriic.net
MR. KHALIL HAMED
Underwriting Officer - Motor
Email: kh.hamed@uriic.net
MR. CARLO CURA
Underwriting Technical In Charge
Email: c.cura@uriic.net
MS. AVEEN GORGEES
Account Assistant
Email: a.gorgees@uriic.net
OPERATIONS
(CLAIMS & UNDERWRITING)
12. BOARD OF DIRECTORS
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MR. IZZEDIN BERWARI
Chairman
MR. DARA JALIL AL KHAYAT
Vice Chairman
MR. BASSAM ADIB CHILMERAN
Board Member
MR. THAIR MOHAMED ALWAN
Board Member
MR. EUGENE SABA NADER
Board Member
MR. TAHA MOHAMED HUWAIDI
Board Member
13. MAJOR SHAREHOLDERS
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DABIN GROUP
Established in 1996 rapidly evolving into one of the most auspicious and budding group of companies within the
Middle East. The group operates as a tightly integrated, multi-disciplinary global enterprise that covers a range of
business activities. With a significant presence in a number of industries, including Manufacturing, Construction,
Hotels, Retail, Distribution and Information Technology. Operating in Iraq, the group has already created a number of
successful enterprises that have become household names within the local market.
NORTH BANK
It is a private joint- stock company founded by a number of shareholders representing a group of businessmen and
traders in addition to those who are concerned at the level of the Iraqi and regional market having extensive
experience in the activation and development of the national economy according to the modern scientific basics,
through the adoption of advanced technological knowledge Used in Arab and international banks.
14. MAJOR SHAREHOLDERS
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AL WATHBA NATIONAL INSURANCE COMPANY
Is a U.A.E. National Company incorporated in 1997 registered with its Head Office in Abu Dhabi has a well spread
service network though its branches in Dubai, Sharjah and Al Ain. AWNIC’s focus is customer satisfaction through
its vision of reinforcing its position in the UAE market as a major player and establishing itself as “The Company of
Choice. underwrites all types of general insurance products and is highly regarded as one of the most preferred
insurers in the UAE market offering a wide array of covers for various classes of risks under one umbrella.
BANKERS ASSURANCE
Bankers is a one-stop general and life insurer that provides insurance and financial planning, as well as term life
solutions tailored to fit the client's personal and business needs. Bankers Assurance was incorporated in Beirut in
1972 by Maurice Karaoglan and Saba Nader, both pioneers of the Middle Eastern insurance market. The company
is licensed to operate as General and Life insurer. Banker Assurance’s history spans over 40 years.
15. MAJOR SHAREHOLDERS
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IZZEDIN BERWARI
Executive Chairman – Dabin Group
Launched in 1996, initially focusing on
construction, the Dabin Group has grown rapidly
and evolved into one of the most successful
groups in Iraq.
DARA JALIL AL KHAYAT
An Iraqi businessman, he is the Chairman of the
Chamber of Commerce & Industry of the
Kurdistan region, Chairman of the Board of Rehab
Company and Al Khayat Group of Companies He
has a Bachelor’s Degree in Law and Political
Science and his field of business interests include
construction projects, general trading and
transportation, public relations and
administration.
BASSAM CHILMERAN
A well known insurance figure in the region
and the General Manager of Al Wathba
National Insurance Company in UAE. He a
co-founder and member of the board of
directors of Vision Insurance Oman, Ur
International Insurance, Iraq and Sanad
Insurance Brokers in Jordan. He is also
serving as the Chairman of the Reinsurance
Sub-Committee of the Emirates Insurance
Association, and as a member of the AWRIS
Technical Committee.
THAIR AL DULAIMY
A leading Iraqi businessman and
industrialist. His business concerns include
the Granada Hotel in Amman, Jordan, and
Fariha Motors in Iraq among others. His
family are the founders of the main
transportation companies in Iraq since the
1930s.
17. YEARLY STATISTICS (USD)
GROSS WRITTEN PREMIUM (GWP) & % RATIO
2 0 1 6 C o r p o r a t e P r o f i l e
LINE
2011 2012 2013 2014 2015
GPW
%
RATIO
GPW
%
RATIO
GPW
%
RATIO
GPW
%
RATIO
GPW
%
RATIO
FIRE 18,358 14 83,254 25 257,895 18 372,184 25 601,850 32
MOTOR 20,149 15 116,724 35 623,191 43 418,051 27 163,206 9
ENGINEERING 80,356 60 85,116 25 289,241 20 145,115 9 104,144 6
GEN. ACCIDENT 3,444 3 18,090 5 264,525 18 296,027 19 544,748 29
MARINE 11,308 8 31,712 10 6,383 1 87,348 6 73,814 4
CREDIT 32,259 2 9,853 1
MEDICAL 51,959 3 255,285 14
LIFE 137,643 9 102,765 6
TOTAL
133,615
100 334,896 100
1,441,235
100 1,540,587 100 1,855,665 100
18. GROSS PREMIUM WRITTEN ANALYSIS (USD)
2 0 1 6 C o r p o r a t e P r o f i l e
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
FireMotorEngineeringGeneral
Accident
MarineCredit LifeMedicalLife
2011
2012
2013
2014
2015
19. YEARLY GROSS CLAIMS STATISTICS (USD)
2 0 1 6 C o r p o r a t e P r o f i l e
20152014201320122011
38,663.21FIRE3,843FIRENILFIRENILFIRENILFIRE
43,072.50MOTOR68,214MOTOR48,373MOTOR3,907MOTOR366MOTOR
NILENG’GNILENG’GNILENG’GNILENG’GNILENG’G
250.00
GEN.
ACCIDENT
750
GEN.
ACCIDENT
1,765
GEN.
ACCIDENT
NIL
GEN.
ACCIDENT
400
GEN.
ACCIDENT
NILMARINE1,183MARINENILMARINENILMARINENILMARINE
23,304.23MEDICALNILMEDICALNILMEDICALNILMEDICALNILMEDICAL
105,289.94TOTAL73,990TOTAL50,138TOTAL3,907TOTAL766TOTAL
20. 2 0 1 6 C o r p o r a t e P r o f i l e
HEADQUARTERS ERBIL
21. 2 0 1 6 C o r p o r a t e P r o f i l e
Ur International Insurance Company
HEAD QUARTERS:
Opposite of Shanadar Park,
Mehata Street, Zaniary Quarter,
P.O. Box: 0112-62 Arbil, Iraq
Telephone:
+964 750 890 9007 or +964 750 890 9008
Email: ur@uriic.net
Website: uriic.net
OTHER OFFICES:
Baghdad Branch
Opposite Rahab Residential Complex, Al Badala
Al Tejari St., 831 Qtr, Aalam Al Saiediya
Al Karkh, Bghfdad
Tel: +964 771 7129008; +964 771 9007071
Officer In-Charge: Laith Wathq Issa
Email: ur@uriic.net
22. REPRESENTATIVE OFFICES
2 0 1 6 C o r p o r a t e P r o f i l e
Northbank URIIC Representative Offices
Branch Name City Address
1. Main Branch Baghdad Alkrada Street
2. Arbil Kurdistan Arbil
3. Dhouk Branch Kurdistan Alkhany Square
4. Al-Harthia Branch Baghdad Alkandy
5. Al Ramady Branch Al-Anbar Andalus
6. Karblaa Karbalaa Ramdan Street
7. Al Mosul Al-Mosul Al-Mosul
8. Al-Basrah Al-Basra Al-Basrah
9. Jamila Branch Baghdad Jamila
10. Al-Dora Branch Baghdad Baghdad
11. Kirkuk Branch Kirkuk Kirkuk
12. Al-Najaf AlNajaf Najaf
13. Al-Kut Al-Kut Kut
14. Al-Umara Branch Al-Umara Omara
15. Al-Nasiriyah Nasiriyah Nasiriyah
16. Hay AlJamea’a Branch Baghdad Baghdad
Fariha Motors URIIC Representative Offices
1. Avenue 611-Street 34 Building 57, Al-Mansour , Baghdad, Iraq
2. Street 100, Daihatsu Complex, Shadi, Erbil Iraq
Erbil Chamber of Commerce Representative Office
Erbil Chamber Building, Aras Street, Erbil, Iraq
26. We remain confident in the company’s capacity to deliver your insurance needs,
although we are at stages of small scale production, the output for 2015 has
exceeded forecast and expectations.
Heading towards 2016, we anticipate continued progress and positive results in our
endeavour to bring unique products and services to the market.
THANK YOU
2 0 1 6 C o r p o r a t e P r o f i l e
WE LOOK FORWARD
TO DOING BUSINESS WITH YOU SOON
