Reflecting its Financial Strength, National Insurance Company (NIC) Enhances Local Leadership and Regional Position with a Compensation Settlement Exceeding 4.2 Million USD

SadaNews - The National Insurance Company (NIC) has announced the settlement of an insurance claim in favor of Housing Bank for the amount of $4,255,262, a step that reflects the robustness of its financial position, the efficiency of its operational processes, and its ability to manage large claims according to the highest professional standards.

This settlement is one of the most notable compensation operations in the Palestinian market, highlighting the vital role the company plays in supporting financial stability and enhancing confidence in the insurance sector, which is a fundamental pillar of the economic system.

In this context, Osama Harzallah, the regional director of Housing Bank, praised the professionalism and quick processing of the compensation procedures, appreciating the institutional approach taken by the National Insurance Company in managing claims, aligning with the best international practices in the insurance sector, and emphasizing the bank's commitment to taking all necessary measures to protect its assets and ensure the continuity of its operations efficiently.

For his part, Aziz Abdel Jawad, Chairman of the Board of Directors of the National Insurance Company, confirmed that this settlement represents a significant milestone in the company’s successful journey spanning over three decades, reflecting its commitment to providing reliable insurance solutions and strong coverage, thus boosting the confidence of major institutions and companies in its services.

Commenting on this achievement, Mr. Bashar Hussein, CEO of the National Insurance Company, explained that settling this claim is part of the company’s strategy based on transparency, reliability, and enhancing long-term partnerships, indicating the company's continued investment in developing its technical and operational capabilities, thereby enhancing its readiness to handle complex risks and high-value claims efficiently and sustainably.

With this achievement, the National Insurance Company continues to establish its position as a leading insurance provider at the level of Palestine and the region, and a reliable partner for institutions in risk management and providing sustainable financial protection.

It is worth mentioning that the National Insurance Company (NIC), which was established in 1992, is considered one of the leading companies in the Palestinian insurance sector, having maintained its advanced position for over three decades, supported by a sustainable growth strategy and an extensive distribution network, in addition to its commitment to its role in social responsibility.