Oman Insurance Company
Oman Insurance Company (P.S.C.) (Arabic: شركة عُمان للتأمين ش.م.ع) is an insurance company in the UAE established in 1975 and is majority owned by Mashreq Bank, one of the UAE's leading financial institutions. Abdul Aziz Abdullah Al Ghurair is the chairman and Jean-Louis Laurent Josi is the CEO.[1]
 | |
| Public | |
| Traded as | DFM: OIC |
| Industry | Insurance , Reinsurance |
| Founded | 1975 |
| Headquarters | Dubai, United Arab Emirates |
Key people | |
| Products | Life Insurance, Medical Insurance, General Insurance, |
| Website | www.omaninsurance.ae |
Products
Oman Insurance Company provides a range of insurance solutions for individuals and corporate clients in Life, Medical, and General insurance (Motor, Property, Engineering, Energy, Marine Hull, Marine Cargo, Liability, Aviation and Space). The company also offers worldwide Reinsurance capacity across lines of business.
Operations
OIC has operations across most Emirates in the United Arab Emirates, as well as in Oman, Qatar and a subsidiary in Turkey (Dubai Starr Sigorta). OIC has over 750 employees.
OIC uses 12 branches, a call center, an exclusive network of agents, international and local brokers, tenders and bancassurance. [2]
Partnerships
OIC has partnered with international insurers to strengthen its product offering.
Bupa
OIC partnered with Bupa in 2003. OIC acts as the exclusive insurer and local administrator in the UAE for Bupa's international health plans.[3]
Generali
OIC is a member of Assicurazioni Generali’s global network that offers multinational pooling and captive arrangements to multinationals.[4]
Coface
OIC launched a partnership with Coface in 2014 to sell Credit Insurance in the UAE.[5]
Ratings
With a gross written premium of AED 3.19 billion (2015) and assets reaching AED 6.2 billion, OIC financial strength is rated ‘A’ Excellent (Stable Outlook) by AM Best and ‘A-‘ (Stable Outlook) by Standard & Poor's.
Awards
Oman Insurance Company (OIC) won two industry awards at the MENA IR Insurance Awards held in January 2016 in Dubai: The Best Commercial Lines Insurer of the year 2015 and The Most Innovative Insurer - Product [6][7][8]
References
- http://www.tameen.ae/about-us/announcements/view/2018/04/01/oman-insurance-company-appoints-jean-louis-laurent-josi-as-new-ceo
- https://www.reuters.com/article/2014/08/08/am-best-idUSnBw085017a+100+BSW20140808
- http://www.uae-medical-insurance.com/insurance-companies/oic-and-bupa-international/
- http://www.arabianbusiness.com/companies/oman-insurance-company-66414.html
- http://www.coface.ae/About-Coface/Coface-in-UAE/Our-Partners
- http://arabianindustry.com/banking-finance/news/2014/jun/11/oman-insurance-wins-middle-east-insurer-of-the-year-award-4726397/#.VHLw5zSUdtM
- http://www.tameen.ae/about-us/announcements/view/2014/12/16/oman-insurance-company-wins-uae-s-best-insurance-brand-award
- "Oman Insurance Company wins two awards at the MENA Insurance Awards 2015 - AMEInfo". ameinfo.com. Retrieved 2018-05-10.