1.  Iraqi public companies;

2.  Iraqi joint stock and joint venture companies; and

3.  Foreign insurance companies or subsidiaries registered in Iraq.

Issuance of a license to conduct insurance services

According to the law, granting a license to conduct insurance services requires the following:

1.  A copy of the insurer's Memorandum of Association and its rules of procedure;

2.  Type of insurance

a. Life insurance - this includes all the insurance which involves human life (or the danger related to human life), temporary insurance as well as postponed insurance;

b. Personal injury insurance - this includes the payment of fixed amounts on a regular basis to ensure the insured is covered due an external accident occurs causing the death or disability of the aforementioned; and

c. Health insurance - this includes providing specific benefits due to the disability of the insured caused by retaining a particular disease.  Further, the Law provides that this shall include the expenses of operations needed because of retaining this disease.

3. Branches of insurance