An Analytical Study of a Sample of Private Insurance Companies Listed on the Iraq Stock Exchange for the Period (2015-2024)

A thesis submitted to

 the Council of the College of Administration and Economics at the University of Karbala in partial fulfillment of the requirements for the degree of Master of Business Administration.

Iman Abdul Hussein Mohammed Al-Jalihawi

Under the supervision of

        Prof. Dr. Ali Ahmed Faris              Prof. Dr. Saleh Mahdi Mohammed 

 This study aimed to measure and analyze the impact of risk management, as measured by its indicators (debt-to-equity ratio, current ratio, insurance premium ratio, cash ratio, and non-expired risk reserve ratio), on financial stability. Financial stability was measured using Altman’s z-score model for insurance companies listed on the Iraq Stock Exchange during the period from 2015 to 2024. This was achieved through an analysis of the companies’ published financial statements. Financial and statistical tools were used to achieve the study’s objective and determine the extent of the impact of the independent variables of risk management on the dependent variable, financial stability. The study was based on a central problem: Can financial stability be achieved through effective risk management? This central problem led to a set of sub-questions, which were answered throughout the study’s chapters. The study reached a number of conclusions, the most important of which is the existence of a clear disparity in the level of financial stability of the insurance companies in the study sample, in addition to the fact that there is a clear effect of risk management variables on the level of financial stability. The study recommended the need to develop diverse and effective risk management mechanisms in order to enhance the financial stability of Iraqi insurance companies.

An Analytical Study of a Sample of Private Insurance Companies Listed on the Iraq Stock Exchange for the Period (2015-2024)

A thesis submitted to

 the Council of the College of Administration and Economics at the University of Karbala in partial fulfillment of the requirements for the degree of Master of Business Administration.

Iman Abdul Hussein Mohammed Al-Jalihawi

Under the supervision of

        Prof. Dr. Ali Ahmed Faris              Prof. Dr. Saleh Mahdi Mohammed 

 This study aimed to measure and analyze the impact of risk management, as measured by its indicators (debt-to-equity ratio, current ratio, insurance premium ratio, cash ratio, and non-expired risk reserve ratio), on financial stability. Financial stability was measured using Altman’s z-score model for insurance companies listed on the Iraq Stock Exchange during the period from 2015 to 2024. This was achieved through an analysis of the companies’ published financial statements. Financial and statistical tools were used to achieve the study’s objective and determine the extent of the impact of the independent variables of risk management on the dependent variable, financial stability. The study was based on a central problem: Can financial stability be achieved through effective risk management? This central problem led to a set of sub-questions, which were answered throughout the study’s chapters. The study reached a number of conclusions, the most important of which is the existence of a clear disparity in the level of financial stability of the insurance companies in the study sample, in addition to the fact that there is a clear effect of risk management variables on the level of financial stability. The study recommended the need to develop diverse and effective risk management mechanisms in order to enhance the financial stability of Iraqi insurance companies.