Corporate Governance

Corporate governance refers to the manner Al Maseer’s Board of
Directors and Senior Management supervise the insurance
business. Corporate Governance is key and vital to Al Maseer as
we are embarking on a mission to match the expected levels by
the Regulatory Authorities (Diwan) and all international
businesses.

Our corporate governance system focuses on transparency,
independence, fairness, accountability and social responsibility.
Al Maseer’s corporate governance framework ensures timely and
accurate disclosure on all material aspects, especially towards
policyholders, including financial situation and ownership
structure. Additionally, our framework makes sure that all our
operations-are-in-compliance-with-legal-and-regulatory
requirements.

Our Board of Directors hosts several independent directors who
were not:
• Hired by Al Maseer
• Associated to our advisory of expert panels
• In a business relationship with Al Maseer
• Members of immediately family members of Al Maseer management, advisory board or expert panel line up
• In a relationship with any affliate of Al Maseer
Our Board of Directors is accountable for the conduct and performance of Al Maseer. A major responsibility is to establish a robust and proactive mechanism to identify, assess, control, mitigate and control risks, create effective internal controls, set independence of major functions within Al Maseer, especially risk management and allocate an internal audit function.

Additionally, our BOD established procedures to keep our policyholders well-informed about our services, claims, complaints handling and material information.

Our Board aims to uphold the highest ethical standards, where it supervises matters pertaining to reporting ethical concerns or potential breaches and violations.
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Founded in 2011, Al Maseer Insurance went out on a mission to bring innovation, knowledge and global skills to Iraq through the latest insurance products and risk understanding.

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