Al-Mashreq Insurance

What Al-Mashreq Insurance does

Al-Mashreq Insurance Group (المشرق للتأمين) is a publicly listed Palestinian insurance company founded in 1992/1993 and headquartered in Ramallah. The company has been listed on the Palestine Stock Exchange (PEX) under ticker MIC since July 9, 2006, with paid capital of $10.5 million USD and a market value of approximately $26.8 million USD. It operates as a comprehensive insurance carrier offering a broad portfolio of individual products (travel, personal accident, vehicle, home and property, fire and perils) and corporate products (fleet, property, engineering, cargo, jewelry store, professional and civil liability, work injury, employee health, fidelity, and business travel). Distribution is multi-channel: branches, offices, and agents in all Palestinian governorates, supplemented by the iMashreq mobile application (positioned as the first remote insurance services app in Palestine), electronic accident reporting, and an online vehicle insurance calculator.

The business model is premium-driven: Al-Mashreq collects recurring annual premiums from individual and corporate policyholders, with pricing varying by coverage type, policy limits, and risk profile. Revenue mechanics rely on standard underwriting across personal and commercial lines, with corporate health insurance delivered through the Pal Med Service medical network available 24 hours. Digital payment infrastructure was added through partnerships with PalPay (2021, first insurer in Palestine to join) and Maalchat (2021) to enable cashless premium collection. Corporate development is supported by direct B2B engagement with clients such as Abu Ain Holding Group, Al Sabah Company, and multiple Palestinian municipalities, alongside community programs (SOS Children's Villages sponsorship, Dinamo Al Mashreq university partnerships with Birzeit and Bethlehem Universities). The company employs 251-500 staff and operates exclusively within Palestine.

Name

Al-Mashreq Insurance

Legal name

Al Mashreq Insurance Company

Website

https://mashreqins.com

Company type

Public

Founded year

1993

Operating status

Operating

Headcount range

251–500 employees

Short description

Al-Mashreq Insurance is a publicly listed Palestinian insurer offering comprehensive individual and corporate insurance products distributed through branches, agents, and the iMashreq mobile app across all Palestinian governorates.

Ownership category

akta.pro rank

Headquarters

HQ city

Ramallah

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums: Collection of insurance premiums from individuals and corporate clients for various insurance products including travel, health, vehicle, property, and liability coverage.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Al-Mashreq Insurance is a Palestinian insurance company that underwrites and distributes a broad portfolio of personal and commercial insurance products — including travel, personal accident, vehicle, home, health, liability, engineering, cargo, and specialty coverages — through a network of branches, offices, and agents across all Palestinian governorates. The company augments its insurance offerings with digital services such as the iMashreq mobile application for remote policy management and claims, electronic accident reporting, online premium calculation, and integrated premium payment through PalPay and Maalchat digital wallets.

Product overview

Al-Mashreq Insurance operates as a comprehensive insurance provider offering a broad portfolio of individual and corporate insurance products through a multi-channel distribution network. The product portfolio spans personal lines including travel, vehicle, home, and personal accident insurance; commercial lines covering property, liability, engineering, cargo, and specialty risks like jewelry stores; and employee benefits including health, work injury, and fidelity coverage. The company delivers these products through a network of branches, offices, and agents across Palestine, enhanced by digital service capabilities including the iMashreq mobile application for remote policy management and claims processing, electronic payment integrations with PalPay and Maalchat, and online tools such as vehicle insurance calculators. Corporate clients are served through bundled packages like the Commercial Insurance Package (Tijarti) and Medical Insurance Package.

Differentiator

Problem solved

Functional benefit

Brands

• iMashreq: Mobile application for remote insurance services, the first of its kind in Palestine, enabling customers to access insurance services, manage policies, and track claims electronically.
• Dinamo Al Mashreq

Products and services

• Travel Insurance
• Personal Accident Insurance
• Amanik Program
• Vehicle Insurance
• Premium Home Insurance
• Fire and Associated Perils Insurance (Home)
• Mushreqa Program
• Corporate Vehicle Insurance
• Bank Coverage Insurance
• Electronic Equipment Insurance
• Engineering Insurance
• Property Insurance Against All Damages
• Money Insurance
• Glass Insurance
• Fire and Allied Business Perils Insurance
• Cargo Insurance During Sea, Air or Land Transport
• Jewelry Store Insurance
• Professional Liability Insurance
• Civil Liability Insurance
• Production Liability Insurance
• Health Insurance (Corporate)
• Treason Insurance (Employee Fidelity)
• Work Injury Insurance
• Business Trip Insurance
• Commercial Insurance Package (Tijarti)
• Medical Insurance Package
• iMashreq Mobile Application
• Electronic Accident Reporting Service
• Vehicle Insurance Calculator

Named customers9 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Nine partnerships are on record, tiered core.

• Abu Ain Holding Group (مجموعة أبو عين القابضة)coreStrategic or Co-development Partner · 2 July 2026Comprehensive insurance services agreement covering Abu Ain Holding Group and its subsidiary companies, protecting their businesses, projects, and investments. Partnership based on institutional complementarity and expertise exchange.
• Al Sabah Company for Import and Export of Auto Spare PartscoreGTM or Marketing Partner · 21 April 2026General and Motor Insurance Agreement providing comprehensive insurance coverage for Al Sabah Company's fleet and general insurance, protecting assets and supporting business continuity.
• Ramallah MunicipalitycoreGTM or Marketing Partner · 19 February 2026Partnership agreement to sponsor Ramallah Municipality's events and activities for 2026. Al-Mashreq Insurance became one of the official supporters of the municipality's programs throughout the year.
• SOS Children's Villages PalestinecoreGTM or Marketing Partner · 15 December 2025Al-Mashreq Insurance renewed its partnership with SOS Children's Villages Palestine for the fourth consecutive year, continuing sponsorship of a family home at the village. The partnership supports child welfare through healthcare, education, and psychological support programs.
• Palestine Exchange (PEX)coreStrategic or Co-development Partner · 30 September 2025Strategic cooperation meeting between Al-Mashreq Insurance and Palestine Exchange at company headquarters. Discussions covered market opportunities in insurance sector, challenges, solutions for enhancing competitiveness, digital tools, and financial disclosure improvements.
• Bethlehem UniversitycoreStrategic or Co-development Partner · 27 July 2025MOU signing for Dinamo Al Mashreq program with Bethlehem University, part of youth empowerment initiative targeting university students.
• Birzeit UniversitycoreStrategic or Co-development Partner · 7 December 2024Dinamo Al Mashreq program partnership with Birzeit University targeting innovative university students to acquire practical skills and enhance resumes. First cohort graduated in June 2025.
• MaalchatcoreTechnology or Integration · 3 September 2021Partnership agreement making Maalchat an official payment channel for insurance service premium payments. Maalchat is described as the first digital wallet platform of its kind in the Arab world offering services to all segments of society.
• PalPaycoreTechnology or Integration · 24 May 2021First-of-its-kind partnership in Palestinian insurance industry enabling all customers to pay insurance premiums electronically through PalPay's integrated digital payment wallet system. Al-Mashreq Insurance was the first insurance company to join PalPay's electronic payment network.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Gulf Insurance Group (GIG): Large MENA insurance group with broad P&C and life/health offerings across multiple countries. Provides a benchmark for how a regional multi-line carrier scales and digitizes distribution.
• AXA Cooperative Insurance (MENA operations): Global insurance incumbent with MENA presence offering motor, property, health, and engineering products. Relevant as a benchmark for digital distribution, underwriting, and customer experience that Al-Mashreq is attempting to emulate with iMashreq.

Direct peers

• National Insurance Company (NIC Palestine): One of the largest Palestinian insurance carriers offering comparable P&C, motor, health, and life products across Palestine. Directly competes with Al-Mashreq for the same individual and corporate customer base through a similar branch-and-agent distribution model.
• Arab Insurance Company (Palestine): Palestinian insurer offering general insurance and reinsurance services including property, motor, marine, and engineering. Competes head-to-head with Al-Mashreq in the West Bank market.
• Palestine Insurance Company (PIC): Palestinian insurance carrier providing motor, property, health, and engineering coverage to individuals and corporates. Overlaps with Al-Mashreq across virtually all product lines and geographies within Palestine.
• Trust International Insurance (Palestine): Palestinian insurance company providing general and life insurance to individuals and corporates. Directly competes with Al-Mashreq across P&C and health lines within the same domestic market.

Regional players

• Medgulf Insurance Company (Jordan): Jordanian insurance carrier offering motor, property, marine, engineering, and medical insurance. Comparable multi-line product set and similar enterprise customer focus.
• Jordan Insurance Company (JIC): Jordanian multi-line insurance carrier with overlapping P&C, motor, marine, and health products. Comparable in product breadth and scale; relevant as a regional benchmark since Al-Mashreq's strategic partner is the Jordanian French Insurance Company.
• Jerusalem Insurance Company: Regional Palestinian insurer offering property, motor, and health products with overlap to Al-Mashreq's portfolio, primarily operating across Palestinian territories.

Others

• PalPay: Palestinian digital payments platform and Al-Mashreq's key integration partner for premium collection. Relevant as an ecosystem participant enabling the insurer's digital distribution and embedded payment strategy.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 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 Al-Mashreq Insurance