Insurance Premiums in Iraq Rise by 11%
The Insurance Bureau reported that total gross written premiums by insurance companies operating in the Iraqi market increased by 11% during the second quarter of 2026, compared with the same period in 2025.
The increase in premiums indicates relative growth in demand for insurance products, including coverage for property, projects, transportation, oil-related activities, and commercial operations.
Insurance companies play an important role in protecting assets and mitigating the financial impact of risks faced by individuals, businesses, and government institutions.
The announcement coincided with increased activity by state-owned insurance companies in the oil and gas sector. The National Insurance Company discussed providing facilities to streamline insurance transactions and documentation for the North Oil Company.
Iraq’s insurance sector still requires further expansion of insurance products, greater public awareness of insurance services, and wider adoption of digital solutions to simplify policy issuance and claims settlement.