Top Insurance companies in UAE

Top Insurance companies in UAE

Top Insurance companies in UAE: Insurance is a type of technique hedging financial risk. It is a form of protection against a future possible event. Insurance companies take the accountability of protecting big or small kinds of loss wherein they supply financial protection or reimbursements to their clients, which might be companies or people.

Different Types of Insurance in the UAE

Insurances are of many types and will vary across the wants of an individual

  1. Personal Insurance
  2. Liability Insurance
  3. Property Insurance
  4. Fire Insurance
  5. Guarantee Insurance
  6. Social Insurance

How does Insurance work?

Insurance companies devise insurance policies by which they set the terms and conditions of the insurance coverage they’ll provide, just like the policy limit, premium (price), and deductibles.
Premium/ price is the monthly expense the customers pay to the insurance coverage company, which they pool together to pay for the future losses of their customers. The premium is consistent with the authorities’ regulations. Insurance companies don’t charge big premium amounts as a result of they don’t need clients to run away.

Top Insurance Companies in UAE?

  1. Watania Insurance
  2. Al Dhafra Insurance Company
  3. Al Sagr National Insurance Company:
  4. Abu Dhabi National Takaful Co.
  5. Oman Life Insurance
  6. Nas Admin service LLC
  7. Al Fujairah Insurance Company
  8. Chartered Insurance Institute Group Middle East
  9. AXA insurance Gulf BSC
  10. Emirates Insurance Company

1- Watania Insurance

Watania Health Insurance Company was incorporated in the year 2011 in order to provide comprehensive locally compliant medical insurance across the UAE. Based in Abu Dhabi, the Watania insurer has expertise in a wide range of health insurance products including the Shariah compliant & Takaful medical insurance products.

Watania Health Insurance Company was established by ALDAR Properties PJSC, Abu Dhabi National Islamic Finance, Abu Dhabi National Insurance Company, and Abu Dhabi National Energy Company. Using the knowledge & expertise gathered by all these well-known companies over several years of services to the United Arab Emirates, Watania Health Insurance Company ensures that quality health insurance products are offered to the local & foreigners living throughout the UAE.

2- Al Dhafra Insurance Company

A publicly owned company that was incorporated in Abu Dhabi under Emily’s Decree No. 8 of 1979 and registered under the provisions of the UAE Insurance Act. The company is one of the leading insurance companies in the United Arab Emirates and offers services.

3- Al Sagr National Insurance Company

Dubai’s Al Sagr National Insurance Company was founded on 25 December 1979 as a publicly-traded company by Sheikh Rashid Bin Said Al Maktoum, the late ruler of Dubai and Vice President of the UAE it was done and registered with the United Arab Emirates Department of Economics and Commerce (UAE).

4- Abu Dhabi National Takaful Co.

Abu Dhabi National Takaful (“Takaful”) was established in November 2003 to provide Takaful’s insurance solutions for the local market. Headquartered in Abu Dhabi, with offices in Abu Dhabi, Al Ain, and Dubai covering the entire UAE. It is licensed by the ministry of commerce and is one of the Islamic companies working in the United Arab Emirates. The company offers products and services of all kinds and is one of the most highly rated conventional insurance companies.

5- Oman Life Insurance

Oman Insurance Company (PSC), or OIC, is one of the leading insurance solution providers in the Middle East, headquartered in Dubai, United Arab Emirates. It has 15 branches and a strong presence in all UAE emirates, Oman and Qatar. It was founded in 1975; OIC is today a financially sound and professionally managed organization. The company practices specific customer-oriented services through high-quality products. OIC offers a full range of insurance solutions from life insurance, health insurance, and car insurance, personal Insurance to Insurance for medium to large industrial and commercial enterprises.

6- Nas Admin service LLC

The company has been operating in the GCC region since 2002, with its headquarters in Abu Dhabi. The company solely focused on providing medical and health insurance. The company has managed to provide adaptable and dynamic solutions in the market place to its business partners.

7- Al Fujairah Insurance Company

Situated in the Eastern part of the country, this is the only insurance company that has its headquarters in Fujairah. The company was established in 1976, and since then, it has branches all over the country with a strong presence in Dubai, Sharjah, Dibba, Fujairah, and Abu Dhabi. The company serves massive clients. The company offers Insurance to all classes of Property and Casualties, including Motor Vehicles and Jet Aircrafts, Marine Vessels, Port Operators’ Liability, Group Life, Medical, and many more.

8- Chartered Insurance Institute Group Middle East

Gaenor Jones leading the operations as regional director for MEA and the Personal Finance Society Chartered Insurance Institute (CII), opened a new office to cover the Middle East and Africa (MEA) region. There is an increasing demand for the CII’s professional qualifications, training, and continuing professional development (CPD) in the area, which has made it a leading insurance and financial service provider.

9- AXA insurance Gulf BSC

One of the largest global insurers and a universal leader in Insurance and Asset Management. AXA has been in the Gulf region for more than 68 years, offering a wide range of insurance products and services for individuals, companies, and small, medium enterprises.

AXA is one of the most significant international players in the GCC, covering the UAE, Oman, Bahrain, and Qatar markets. They offer services and products custom made for each individual in which they include casualties, property, life, and health insurance.

10- Emirates Insurance Company

Established in 1982 by Sheikh Zayed bin Sultan Al Nahyan by law, no.6 is one of the leading insurance companies in UAE. It started with a small number of employees and is now known as the best insurance company in the entire Gulf Cooperation Council region. The company offers the best premiums and is the 4th largest insurance company as per gross written premium.