Asia Insurance Company Table of Contents
Subject Page
1. About Asia Insurance 2‐3 2. Lines of Business 4‐13 3. Services 14 4. Our Reinsurance Partners 15 5. Our Partners in Insurance and Reinsurance Bokrerage 16 6. Board of Directors 17 7. Management Team 18 8. Contact Us 19 9. Mobile Branches 20 10.How to Produce Best Results Together 21‐22
1 1.About Asia Insurance Company ‐ Iraq
AiAsia Insurance Company is the Insurance Arm of FkFaruk Group Holding which thrives to restore and nourish the Iraqi Insurance market to become one of the largest in the region. Our paid‐up Capital is ID 30b ($25m) , FGH and partners are the largest Shareholders with 70% share.
We deal with the World’s Largest top Rated Reinsurers mainly Swiss Re & Munich Re providing the highest level of security to our clients.
Our full‐ edged capacity and expertise empower us to face the com‐ petitive 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.
2 Vision Asia Insurance Company is dddedicate dto become one of the leading regional insurance provider of non‐life classes coupled with the highest degrees of customer utility. We envisage ourselvesasfirstclasssecurityprovidersthroughpartnerships with the most solid yet advanced international reinsurance partners.
Mission Statement: to be the most successful insurer in Iraq by delivering tailor‐made insurance and risk management solutions combined with a pleasant workplace and supreme blend of pro t and growth.
Company Approach We are committed to adding value to all our clients and associates. We believe in long term relationships and will seek to have solid partnerships with each of our clients and associates, based on exclusivity, mutual trust, transparency and quality of service.
3 2.Lines of Business
4 Property Insurance
Providing indemnity for material damage to the insured property resulting from various perils such as fire, ligh tni ng, aifircraft, explilosion, earthkhquake, strike, riot, ciilivil commotion, malici ous damage, storm, tempest, flood, earthquake, bursting of water apparatus (including sprinkler leakage), impact by own vehicles, theft or attempted theft (by violent and forcible entry to or exit from the premises) and accidental loss or damage. Various polices available to cater for various budgets & insurance Requirements:
1. Fire & Allied Perils Insurance 2. Burglary 3. Property All Risks 4. Hotels All Risks 5. Political Violence including Terrorism 6. Business Interruption 7. Home Guard & Business Guard Policies
5 General Accidents
The Umbrella for various General Risks for Individuals and for Organizations; With our solid relations with the Reinsurance Market we can tailor‐made solutions for highly complex risks.
Various Polices Available to suit various needs:
1. Group Personal Accident 2. Workmen Compensation 3. Plate Glass 4. Fidelity Guarantee 5. Money Insurance 6. Comprehensive General Liability 7. Banker’s Blanket Bond Professional Indemnity
6 Engineering Insurance
Asia Insurance is equipped with an engineering team that can offer Insurance & Risk Management solutions to various lines of Engineering Insurance such as:
1. Contractor’s All Risks‐ CAR 2. Erection All Risks‐ EAR 3. Plant & Machinery Insurance 4. Machinery Breakdown 5. Electronic Equipment Insurance 6. Deterioration of Stock DOS 7. Contingency Insurance
7 Energy Insurance
Asia Insurance proudly offers its services and appropriate risk management solutions in cooperation with the world’s top rated reinsurers. We write Onshore and Offshore, both Upstream & Downstream exposures. We also cover related exposures such as Business Interruption, Liabilities, Control of wells (operators extra expenses), property damage etc.
We service the Energy industry in these sectors:‐
1.Onshore and offshore construction and property 2. Pipelin es 3. Oil, gas and national energy companies 4. Onshore and o shore drillers and drilling rigs 5. Petrochemical/chemical manufacturers 6. RfiRefineri es 7. Tank farms 8. Gas processing plants
8 Aviation Insurance
Asia Insurance can insure both General Aviation Aircraft as well as Airline fleet, backed by excellent and rated securities from the London and Overseas Market. Our Aviation Reinsurance brokers are highly experienced to meet the insurance requirements of the Aviation Industry in the Middle East region. We provide all types of Aviation coverage including ‐but not limited‐ to:
We service the Aviation industry in these sectors:‐
1. Aircraft Hull and Liabilities Insurance including Passenger, Cargo and Third Party. Aircraft Hull War and Allied Perils. 2. Aircraft Spares All Risk Insurance 3. Airport Operators and other Liabilities. 4. Aviation Crew Personal Accident. 5. Crew Loss of License Insurance.
9 Marine Insurance
AiAsia Insurance provides it’sclient swith exceptional MiMarine Insurance through a dditddedicated MiMarine DttDepartment that offers the following types of Insurance:
Cargo: cover loss or damage of goods transited by air, sea or road. We can provide tailor made Marine Cargo policies to match particular business needs. We also offer War & Strikes Risks, Land Transit , Courier &, Parcel Post , Haulier’s Liability, Freight Forwarders Liability, Project Cargos and Stock throughputs
Marine Hull: concerns the insurance of all types of Vessels against Total, Partial Losses & Liability
10 Motor Insurance
Under our full‐ edged Motor Insurance section; We operate two highly successful covers set as follows: (PLUS other Value Added Covers)…
Material Damage:
Providing Indemnity for loss or damage to the insured vehicle, its accessories, and spare parts caused by accidental collision or overturning burglary or theft malicious act of any third party.
Third Party Liability TPL:
Compensation towards insured’s and or driver’s Legal Liability to Third Parties arising from the use of the insured vehicles in respect of Death & Bodily Injury including Passengers & Third Parties.
11 Health Insurance
As health is considered a priority to an individual, it’s also a priority to us as an insurance company. Therefore, we are working to enable all health insurance beneficiaries (whether they are under the umbrella of the ‘’individual’’ health insurance or under ‘’Corporate health Insurance’’) access to excellent health service providers exclusively with the best international company in health insurance management (MEDNET, a company wholly owned by the largest health insurer in the world ‐ Munich Health).
Consequently, Asia Insurance is dedicated to provide Excellent programs and coverage’s, offering Free Access (Direct Billing) in ‘’Jordan’’ along with ‘’Kurdistan Iraq’’ up to one billion Iraqi Dinar per Insured member. We do offer two main products: In‐Patient only and In/Out‐Patient, which include (medical consultation, diagnostic tests, medications and physiotherapy).
In addition, we can tailor‐made health insurance programs to suit the needs & requirements of various corporations.
12 Travel Insurance
Travel Insurance is a product specifically designed to suit the needs of individuals, executives and other staff or laborers who are required to make frequent trips outside the country. Asia insurance provides suitable Insurance Coverage according to the Schengen Countries requirements.
Our products cover the following:
- Worldwide Coverage of Medical & Hospitalization Cases. - Loss of Baggage. - Repatriation of the corpse upon death of beneficiary. - 24 hour alarm center service.
13 3. Services
A Customer Centric Comppyany with the following Key Services:
9 Insurance Consultations 9 Risk Management 9 Identifying Clients Needs 9 Claims Management 9 HealthCare Claims Management in Conjunction with MEDNET (Wholly owned by Munich Health). 9 Motor Claims Center
14 4. Our Reinsurance Partners
15 5. Our Partners in Insurance and Reinsurance Bokrerage
16 6. Board of Directors
Asia Insurance board members are prominent businessmen in Iraq and their main focus is to establish companies that will be pacesetters in their respective sectors.
Faruk Holding is represented by; Mr. Hawre Noori, Vice Chairman of Asia Insurance ‐ CEO & Board Member at Faruk Holding. Mr. Omar Hussein, Chairman of Asia Insurance – He is one of the most successful businessmen in Sulaymaniyah, Iraq.
It is worth mentioning that Jordan Insurance Company the ‘’oldest Insurance Company in Jordan’’ also holds two board seats at Asia Insurance.
17 7. Management Team
1) Jamal Asfour: CEO
Phone number: 00964 7704616300
2) Gamal Abou El‐Seoud: Technical Manager
3)Tamer HdddiHaddadin: MiMarine Manager
4) Emad Al‐Abed: Finance Manager
5) Rebwar Marif : HR & Admin Manager
18 8. Contact Us
Head Office:
1‐ Salim Street, Sulaymaniyah, Iraq, P.O.Box 356 Tel: +964 53 3301811 Fax: +964 53 3301812 E‐mail [email protected]
2‐ Customer Care & Motor Branch Salim Street adjacent to HQ, Sulaymaniyah, Iraq
Erbil Branch:
Villa 25, English Village. Tel: +964 750 1657722 +964 750 1657733
19 9. Mobile Branches
Three Mobile Branches Around the Kurdistan Region (An Idea special of it’s Kind in the Arab World)…
20 10.How to produce Best Results Together
Information
¾ Full up to date underwriting information. ¾ Loss Hist ory ¾ Target Premium
Commitment to the Excellence
¾ Focusing on sustaining the leadership position to achieve its goals and thus get the best terms.
¾ Quality and confidence are the fastest and closest ways to win access to clients and maintaining this isthedutyofeveryoneofus.
¾ A sense of responsibility towards society with a clear focus on moral values.
21 ¾ The ability to observe changes in the markets and different economic sectors and respond to it, inadditi on to invest inpotentilial opportunities or avoid the threats that can be caused.
¾ Focus on earning opportunities rather than thinking about them.
¾ Keep up with technology to provide the best services to our clients.
¾ The ability to deal with current bottlenecks and future requirements.
¾ Focus on building strong mutual relationships with clients by providing (out of the box ideas), integrated solutions and outstanding risk management services and prompt claims settlement measures.
¾ The ability to interact with counterparts all over the world in order to provide innovative, value added, competitive insurance solutions.
22 Together Towards Paramount
23 Together Towards Paramount
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