Marsh, an insurance broker and risk adviser, has signed a mutually exclusive agreement with Anglo Arab Insurance Brokers (AAIB), the only international broker to be licensed and registered to operate in Iraq with offices across the country.
Under the terms of the agreement, Marsh and AAIB will co-operate on insurance coverage, risk management and claims handling issues for companies in the energy, power and aviation sectors with operations in Iraq.
Marsh managing director for Global Energy Practice Simon Boxall said, this is an exciting development for Marsh's business in the Middle East. Marsh's global expertise, combined with AAIB's local knowledge, will create a distinct offering in this rapidly expanding market.
AAIB founder and CEO William Wakeham said, the cementing of the agreement with Marsh is very exciting for AAIB as it continue to pioneer in the Iraqi insurance market.
"We have been established in Iraq for over five years and have spent that time developing our product base, deepening our understanding of the regulatory and operational environment and forging important relationships with local businesses, underwriters, loss adjusters and lawyers," Wakeham said.