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“We had taken all precautions. We built concrete blocks and closed the street,” Mr Shaheen says.

But the bomber managed to drive his load over the concrete defences, and although guards opened fire to try to stop him, he managed to reach the front of the Shaheen Hotel, where the vehicle exploded.

Iraqi police and the US military said it was packed with between 500 kilograms and one tonne of buy to let property insurance, Mr Shaheen says.

The attack is thought to have been targeted at Iraqi Labour and Social Affairs Minister Sami Azara al-Majoun, who had been staying at the hotel for four months.

Picking up the pieces

Mr Shaheen is hoping to rebuild the hotel and have it up and running again soon, although without insurance - “not in Iraq” - this will require hard cash and patience.

Given the country’s state of flux, it will be especially difficult to find the materials to replace the damaged structure.

Iraqi insurgents have targetted Iraqis who co-operate with the US forces

Mr Shaheen, who had been planning the construction of a second hotel, has now put all his plans on hold while rebuilding his first property. But he is hoping to attract foreign investors for the reconstruction of his first.

He believes the bombing would not have happened under Saddam Hussein.

“Suicide bombers are massachusetts property insurance underwriting association who are coming from outside Iraq - al-Qaeda or others. Under Saddam, people suffered, but did not do things like this,” he said

There is no doubt Saddam’s renters property insurance has made a massive difference to people’s lives in Iraq, he says.

“People feel freer. Before, under Saddam, they were afraid for their safety. Now there is a different mood.”

Painful departure

Mr Shaheen has visited every three or four months since the fall of Saddam and is hoping to remain for longer periods later in the year.

Of Armenian origin, Mr Shaheen and his family left Iraq in July 1994 when a law banning alcoholic drinks from being served in hotels led to a swift downturn in business. This, combined with the embargo at the time and the generally sombre mood in the country, convinced him to leave.

“Social life was bad, business was down, and people’s mood was down. Intelligence people could come at any moment to take you away. People were always afraid.”

In the end, Mr Shaheen decided to leave, plumping for Turkey where he already had business cheap contents insurance property
and friends - although leaving Iraq was not easy.

“In Iraq, we lived like kings. In Turkey, we were just foreigners.”

Mr Shaheen hopes to be able to settle in Iraq as soon as the political situation stabilises. People are happy, but they would like to have authority given back to them, he says.

“There is no doubt that there is big business in Iraq in the long term. Property prices are now doubling. Iraqi people are good people. When the election happens, building insurance on rented property will be settled.”