Palestine Insurance

What Palestine Insurance does

Palestine Insurance Company is a private limited shareholding insurance company established in 1994 and headquartered in Al-Bireh, Ramallah. The company operates as a multi-line insurer providing motor insurance (compulsory ACT, third party liability, and comprehensive/VIP), health insurance, and a broad non-motor insurance suite covering property, marine, engineering, professional indemnity, fidelity guarantee, money, banker's blanket bond, product liability, workers' compensation, legal/public liability, personal accident, household, travel, and business interruption. It is licensed by the Palestinian Capital Market Authority under license No. 3 and was the first Palestinian company to obtain the MSI 20000 Financial Quality Certificate.

The company serves three primary customer segments: individual consumers (motor, health, travel, and household insurance acquired through branches or online), corporate enterprises (multi-line commercial programs with named anchor clients including Paltel Group, Arab Bank, Palestinian Banking Corporation, and Nestle Food Company), and government institutions (including the Central Elections Committee and Beitunia Municipality). Distribution is led by a 25+ branch and office network spanning all Palestinian governorates in the West Bank and Gaza Strip, supplemented by dedicated corporate account management and an online insurance calculator for motor premium estimation.

Revenue is generated through recurring insurance premiums calculated by line of business using risk-based and unit-pricing methodologies, with motor premiums driven by vehicle class/engine size and health premiums driven by participant count and coverage type. The company operates as both primary insurer and reinsurer across all major lines. It maintains a travel insurance partnership with AFRO ASIAN Assistance to provide 24/7 international medical assistance. The technology platform supports policy management, claims processing, and customer service operations, with a digital health insurance card system providing access to what the company describes as the widest medical network across all Palestinian cities and villages.

Name

Palestine Insurance

Legal name

Palestine Insurance Company

Website

https://pic-pal.ps

Company type

Private

Founded year

1994

Operating status

Operating

Short description

Palestine Insurance Company is a Palestinian multi-line insurer founded in 1994, offering motor, health, and non-motor insurance products to individual consumers, corporate enterprises, and government institutions across 25+ branches in the West Bank and Gaza Strip.

Ownership category

akta.pro rank

Product category

Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Health and Medical Insurance Carriers (524114)

SIC

Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321)

akta.pro primary industry

General Liability Insurance (FSAJAMAE)

akta.pro secondary industries

Product Liability (FSAJADAC), Public Liability (Premises/Operations) (FSAJADAD)

Keywords

• Motor insurance
• Health insurance
• Property insurance
• Travel insurance
• Workers compensation

Headquarters

HQ city

Ramallah

Offices11 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Insurance Premium Revenue: Palestine Insurance generates revenue primarily through insurance premiums collected from policyholders for various insurance products including motor, health, non-motor (property, marine, engineering, liability), and workers' compensation insurance. Premiums are calculated based on risk assessment, vehicle/engine specifications, number of participants, and coverage type. The company operates as both primary insurer and reinsurance provider.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Palestine Insurance Company provides a comprehensive portfolio of insurance products and services including motor insurance (ACT, TPL, comprehensive), health insurance, property and business interruption insurance, household insurance, travel insurance, workers' compensation, professional indemnity, fidelity guarantee, money, marine, engineering, banker's blanket bond, product liability, legal/public liability, and personal accident coverage. The company acts as both primary insurer and reinsurer, distributing through a physical branch network across the West Bank and Gaza Strip, dedicated corporate account managers, and online tools including an insurance calculator.

Product overview

Palestine Insurance Company offers a comprehensive portfolio of insurance products and services through its core offerings and supporting tools. The company provides Motor Insurance (ACT, TPL, Comprehensive/VIP) and Health Insurance as primary products, along with an extensive Non-Motor Insurance suite including Property, Business Interruption, Household, Travel, Professional Indemnity, Fidelity Guarantee, Money, Marine, Engineering, Banker's Blanket Bond, Product Liability, Workers' Compensation, Legal/Public Liability, and Personal Accident insurance. An online Insurance Calculator tool supports premium calculations. The company operates through branches and offices across the West Bank and Gaza Strip, offering both corporate and personal insurance solutions.

Differentiator

Problem solved

Functional benefit

Products and services

• Motor Insurance Provides ACT (Compulsory), Third Party Liability (TPL), and Comprehensive (Complementary) insurance for all private, commercial, public transports, buses, and tourist vehicles. Covers vehicles with Palestinian or Israeli plates, including VIP policy with alternative vehicle provision and towing services.
• Health Insurance Comprehensive health insurance offering services at affordable prices with the widest medical network across all Palestinian cities and villages. Provides a digital health insurance card for access to hospitals, clinics, laboratories, radiology centers, and other medical services, with customizable packages for individuals and corporate groups.
• Travel Insurance Travel insurance providing peace of mind at reasonable prices for emergencies abroad, whether for work or pleasure. Backed by a partnership with AFRO ASIAN Assistance for 24/7 worldwide medical assistance to injured or sick policyholders in any country.
• Property Insurance (Fire and Natural Perils) Wide insurance coverage against risks for commercial and industrial establishments, buildings and contents against fire, lightning, explosions, storms, floods, earthquakes, road accidents, falling objects, and water leakage.
• Business Interruption Insurance Insurance coverage against loss of profits resulting from insured incidents, including net profit and insured fixed general expenses for commercial and industrial policyholders.
• Household Comprehensive Insurance Insurance coverage for buildings, house contents, personal accidents, rental costs, and alternative homes in emergencies, plus public liability coverage for the insured.
• Professional Indemnity Insurance Coverage for legal liability made by third parties against insured professionals including engineers, architects, lawyers, accountants, auditors, media and technology professionals, and medical professionals.
• Fidelity Guarantee Insurance Compensation for direct financial loss resulting from employee infidelity including fraud in accounts, embezzlement, illicit seizure, mismanagement, and theft of inventory.
• Money Insurance Insurance for cash in transit, in safe, or in drawers, compensating the insured for losses from burglary or theft during or outside working hours.
• Marine Insurance Includes Marine Hull Insurance (ship hull and liabilities) and Marine Cargo Insurance (cargo, land transit, goods in transit).
• Engineering Insurance Multiple coverage types including Contractor's All Risk (CAR), Erection All Risk (EAR), Machinery Breakdown, Contractor's Plant and Machinery, Electronic Equipment, Deterioration of Stock, and Loss of Profit following Engineering insurance.
• Banker's Blanket Bond Insurance Comprehensive insurance cover for banks and financial institutions protecting against financial losses including cash in safe, cash on counter, cash in transit, employee infidelity, and forgery.
• Product Liability Insurance Covers legal/civil liability of producers, distributors, or organizations against bodily injury or material damage to third parties resulting from using their products.
• Workers' Compensation Insurance Covers compensation for employees and workers for bodily injury, death, permanent total disability, permanent partial disability, and temporary disability resulting from accidental accidents during work.
• Legal or Public Liability Insurance Covers legal liability of the insured towards third parties for bodily injury and/or material damage to property resulting from accidents at the insured location.
• Personal Accident Insurance Insurance against personal incidents for individuals and groups, providing compensation for disabilities resulting from accidents, including death benefits and monthly compensation for partial or total disability.

Quantifiable outcome

• First company in Palestine to obtain MSI 20000 Financial Quality Certificate, demonstrating superior financial quality standards

Named customers9 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature2 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Nestle Food CompanycoreStrategic or Co-development PartnerPalestine Insurance and Nestle Food Company signed an agreement for comprehensive insurance services. Signed by Mr. Wael Khalil, Assistant General Manager for Production at Palestine Company, and Mr. Anton Hazboun, General Manager of Nestle Company. Partnership for the second consecutive year.
• Paltel GroupcoreStrategic or Co-development PartnerPalestine Insurance and Paltel Group signed an agreement to provide diverse insurance services covering all aspects of the Palestinian Telecom Group's operations and all its companies across Palestinian governorates.
• Arab BankcoreGTM or Marketing PartnerPalestine Insurance in partnership with Arab Bank launches a set of services and facilities for the company's customers who are accredited by Arab Bank.
• JawwalminorGTM or Marketing PartnerPalestine Insurance and Jawwal signed an agreement to provide cellular services. Signed by Mr. Mohammad Mustafa, Marketing Manager for Palestine Insurance, and Mr. Thaer AbuBaker, Strategic Manager for Jawwal. Also discussed memorandum for future collaboration.
• SbitanyminorGTM or Marketing PartnerSbitany and Palestine Insurance signed a partnership and cooperation agreement for selling electrical and household appliances for the benefit of Palestine Insurance employees.
• Hclinic HospitalcoreStrategic or Co-development PartnerPalestine Insurance and Hclinic Hospital signed an agreement for medical treatment services within health insurance systems and contracts provided by Palestine Insurance for individuals and companies.
• Central Elections CommitteecoreStrategic or Co-development PartnerComprehensive insurance services agreement between Palestine Insurance and Central Elections Committee for the sixth consecutive year.
• Palestinian Banking CorporationcoreStrategic or Co-development PartnerPalestine Insurance and Palestinian Banking Corporation signed comprehensive insurance services agreement. Signed by Chairman Mr. Muhammad Abu Awad and General Manager Mr. Montaser Shashtri.
• Beitunia MunicipalitycoreStrategic or Co-development PartnerBeitunia Municipality and Palestine Insurance Company signed an agreement to provide integrated insurance services.
• AFRO ASIAN AssistancecoreTechnology or IntegrationPalestine Insurance signed an agreement with AFRO ASIAN Assistance company to provide travel insurance assistance services to injured or sick policyholders in any country around the world, available 24 hours a day.

Scale indicators5 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Al-Ahli Insurance Company: Palestinian multi-line carrier covering motor, health, and general insurance — overlapping customer segments and product lines with Palestine Insurance.
• National Insurance Company (NIC Palestine): One of the largest Palestinian multi-line insurers, directly competing with Palestine Insurance across motor, health, and P&C lines for both consumers and enterprises in the West Bank and Gaza Strip.
• Trust International Insurance Company: Palestinian multi-line insurer offering motor, health, property, and engineering coverage — competing head-to-head with Palestine Insurance for the same governorate-level branch customer base.
• Global Alliance Insurance Company (GIA): Palestinian insurance carrier active in motor, health, and commercial lines, with overlapping branch coverage and similar enterprise/government client profile to Palestine Insurance.
• Takaful Palestine Insurance: Palestinian takaful/multi-line insurer serving individuals and corporates with motor, health, and P&C products — direct competitor in the same regulatory and geographic market.
• Arab Insurance Establishment: Established Palestinian insurer offering P&C and life/health coverage, competing with Palestine Insurance for corporate and government contracts in the West Bank.

Regional players

• Bupa Arabia: Leading regional health insurer with corporate group-health expertise; comparable on the health-insurance side of Palestine Insurance's portfolio, though operating primarily in Saudi Arabia.

Others

• Palestinian Monetary Authority (Insurance Supervision): The Palestinian regulator that licenses and supervises insurers including Palestine Insurance; not a competitor, but the regulatory counterparty shaping capital, product, and solvency requirements.

Broad incumbents

• AXA Insurance (Middle East): Global insurer with significant MENA presence offering motor, health, and P&C; provides a broader competitive benchmark for Palestine Insurance's product portfolio and corporate accounts in the region.
• MetLife (Middle East operations): Global life and health insurer with regional offices; sets the benchmark for group-health and life-adjacent products that Palestine Insurance could expand into from its current base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/palestine_co
• Facebookfacebook.com/Palestine.Insurance
• LinkedInlinkedin.com/company/palestine-insurance

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Palestine Insurance