In a strategic move to modernize Iraq’s state-owned insurance sector, the Iraqi Ministry of Finance has signed a contract with global consulting firm Ernst & Young to assess the performance of its insurance companies and provide professional recommendations. These may include mergers, restructuring, or performance enhancements.

Iraqi Finance Minister Taif Sami stated that the collaboration aims to adopt international best practices and standards to improve operational efficiency across government insurance institutions.

This initiative aligns with the broader economic reform plan led by Prime Minister Mohammed Shia’ Al-Sudani, which also includes partnering with two other global firms to help raise Iraq’s credit rating through legal, economic, and public relations consultancy.

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