The company was established on 10/14/1959 based on the Commercial Companies Law No. (31) of 1957 in Baghdad as a private company under the name of the Iraqi Insurance Company, practicing all types of insurance and reinsurance. In 1964, it was nationalized pursuant to corporate nationalization decisions and specialized in life insurance business, and the portfolios were transferred to it. All foreign and Arab companies operating in the Iraqi market at the time. In 1988, Resolution No. (392) was issued to cancel specialization and allow the company again to practice all types of insurance. It began underwriting the business of complementary automobile and marine insurance – goods, fire, miscellaneous accidents, and engineering. In 1997, the General Companies Law was issued, which It opened wide doors for the company to compete and develop, as Law No. (10) regulating insurance business was issued in 2005, according to which the work of insurance companies was regulated in light of the free economy and competition. The company aims to contribute to economic development by spreading insurance awareness among members of society and what it achieves. From the growth of marketed insurance policies and the revenues generated from them.