URIIC 2016 Profile

ا�ل�د�و�ل�ي�ة� أ�و�ر� ش�ر�ك�ة� ل�ل�ت�أ�م�ي�ن

O ffi 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

2016 C O R P O R AT E P R O F I L E

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 fi l e

ECONOMIC INDICATORS


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.

ERBIL AT A GLANCE


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

URIIC’s INCORPORATION


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.

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


PRODUCT LINES


LIFE & MEDICALMOTOR & VEHICLES

FIRE & ALLIED PERILSENGINEERING

MARINE & HULL

PROPERTY

Fastest Growing Iraqi InsurerInternational A Rated Reinsurers

Wide Network CoverageProfessional Technical Team

Well Strategized Marketing CampaignsWise Investment Strategies

Well Supported by Regional Partners

WHY CHOOSE URIIC?


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.

OUR MAIN FOCUS


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

CORPORATE SOLUTIONS


Step 1Evaluate the

existing insurance program

Step 2Examine & obtain the

client’s organizations

Step 3Determine 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.

THE CORE TEAM


MR. AHMED SALAHUDINInformation Technology

Email: [email protected]

DR. HAYTHAM ABU EL ONIENGeneral Manager


OPERATIONS (SUPPORT)

MR. DANIEL P. NARAGUnderwriting Officer – General Insurance


MS. VIAN JAFF Travel Underwriting Assistant Email: [email protected]

MR. SHERIF DIABAccountant


MR. ROLAN BABANOperations Manager


MR. KHALIL HAMED Underwriting Officer - Motor Email: [email protected]

MR. CARLO CURAUnderwriting Technical In Charge

Email: [email protected] MS. AVEEN GORGEES

Account Assistant Email: [email protected]

OPERATIONS (CLAIMS & UNDERWRITING)

BOARD OF DIRECTORS


MR. IZZEDIN BERWARIChairman

MR. DARA JALIL AL KHAYATVice Chairman

MR. BASSAM ADIB CHILMERANBoard Member

MR. THAIR MOHAMED ALWANBoard Member

MR. EUGENE SABA NADERBoard Member

MR. TAHA MOHAMED HUWAIDIBoard Member

MAJOR SHAREHOLDERS


DABIN GROUPEstablished 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 BANKIt 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.

MAJOR SHAREHOLDERS


AL WATHBA NATIONAL INSURANCE COMPANYIs 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 ASSURANCEBankers 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.

MAJOR SHAREHOLDERS


IZZEDIN BERWARIExecutive Chairman – Dabin GroupLaunched 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 CHILMERANA 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 DULAIMYA 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.

PANEL OF REINSURERS


Iraq Reinsurance Company

YEARLY STATISTICS (USD)GROSS WRITTEN PREMIUM (GWP) & % RATIO


LINE2011 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

GROSS PREMIUM WRITTEN ANALYSIS (USD)


FireMotorEngineeringGeneral Accident

MarineCredit LifeMedicalLife -

100,000

200,000

300,000

400,000

500,000

600,000

700,000

20112012201320142015

YEARLY GROSS CLAIMS STATISTICS (USD)


2015 2014 2013 2012 201138,663.21 FIRE 3,843 FIRE NIL FIRE NIL FIRE NIL FIRE

43,072.50 MOTOR 68,214 MOTOR 48,373 MOTOR 3,907 MOTOR 366 MOTOR

NIL ENG’G NIL ENG’G NIL ENG’G NIL ENG’G NIL ENG’G

250.00 GEN. ACCIDENT 750 GEN.

ACCIDENT 1,765 GEN. ACCIDENT NIL GEN.

ACCIDENT 400 GEN. ACCIDENT

NIL MARINE 1,183 MARINE NIL MARINE NIL MARINE NIL MARINE

23,304.23 MEDICAL NIL MEDICAL NIL MEDICAL NIL MEDICAL NIL MEDICAL

105,289.94 TOTAL 73,990 TOTAL 50,138 TOTAL 3,907 TOTAL 766 TOTAL


HEADQUARTERS ERBIL


Ur International Insurance CompanyHEAD QUARTERS:Opposite of Shanadar Park,Mehata Street, Zaniary Quarter,P.O. Box: 0112-62 Arbil, IraqTelephone:+964 750 890 9007 or +964 750 890 9008Email: [email protected]: uriic.net

URIIC LOCATION MAP

OTHER OFFICES:Baghdad BranchOpposite Rahab Residential Complex, Al BadalaAl Tejari St., 831 Qtr, Aalam Al SaiediyaAl Karkh, BghfdadTel: +964 771 7129008; +964 771 9007071Officer In-Charge: Laith Wathq IssaEmail: [email protected]

REPRESENTATIVE OFFICES


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

REGISTRATION CERTIFICATE (KURDISH)


REGISTRATION CERTIFICATE (ENGLISH)


COMMERCIAL PRACTICE LICENSE (DIWAN)


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


WE LOOK FORWARD TO DOING BUSINESS WITH YOU SOON

Documents

URIIC 2016 Profile