?The insurance market has registered a remarkable growth rate in the first quarter of the year, which is a promising sign for the market, said the insurance regulator, Iraq Insurance Diwan (IID).
According to the IID, the total insurance premiums collected during the quarter from 1 January to 31 March 2025 amounted to IQD128.8bn ($98.5m) compared to IQD109.9bn during the corresponding period of 2024, reflecting a growth rate of 18%.
“This growth comes in the context of the IID's continuous follow-up of the dynamics of the insurance market and monitoring of the economic indicators associated with it to enhance the performance of the sector and support the strategic directions of the country's financial policy,” said the IID.
The regulator stressed that these positive indicators represent a supportive step to enhance confidence in the Iraqi insurance sector and evidence of increasing the awareness of individuals and institutions of the importance of insurance as a tool for risk management and ensuring financial stability.