Jordan-based AAIB Insurance Brokers has become the first foreign insurance entity with offices in Baghdad, a statement said.

The full registration and opening of the Baghdad office was completed earlier this month under the locally registered name of Al Fajer Insurance and Reinsurance Brokers, it said.

AAIB had earlier opened and office in Erbil under the name of Al Fajer Kurdistan Insurance Brokers.

AAIB was formed in 2004 to provide insurance solutions in the most challenging areas in the world focusing on Iraq and Afghanistan.

William Wakeham, AAIB founder and managing director, said: “This registration, along with a five-year previous experience in this country, will help us offer unique insurance services at competitive prices and terms to meet the needs of the Iraqi market”.

“With a strong and experienced team of UK trained brokers, we know what the international business community expects from their insurance provisions in emerging markets. Our philosophy is to be on the ground with our clients to best understand their needs,” he added.

AAIB Insurance Brokers provides insurance cover for emerging markets, including the Middle East and Africa. It specialises in high-risk and non-standard insurance in locations such as Iraq (including Iraqi Kurdistan), Afghanistan, Syria, Sudan and Nigeria.

AAI Insurance Brokers products cover aviation, cargo, casualty and medical, construction and engineering, kidnap and ransom, oil and gas, political risk, power energy, professional and general liability, property and war and terrorism through its highly experienced team located in the region, the statement added. – TradeArabia News Service