Sukoon Insurance PJSC, formerly known as Oman Insurance Company PSC, is one of the leading insurance providers in the United Arab Emirates. Founded on August 21, 1975, and listed on the Dubai Financial Market (DFM), Sukoon Insurance has earned a solid reputation for providing comprehensive insurance solutions to both individuals and businesses in the UAE and beyond. Headquartered at Omar Bin Al Khattab Street, next to Al Ghurair Mall in Deira, Dubai, Sukoon Insurance operates with a mission to provide clients with a wide range of reliable, innovative, and customizable insurance products that ensure peace of mind and financial security. The company’s diverse offerings include general insurance, life insurance, and investment products, tailored to meet the varied needs of its growing customer base.
Sukoon Insurance operates in three key business segments: General Insurance, Life Insurance, and Investments. Each segment is designed to offer comprehensive solutions and cater to specific customer needs. The General Insurance segment provides a wide variety of coverage options designed to protect both individuals and businesses against a range of risks. These include property insurance, which offers protection for residential and commercial properties; engineering and energy insurance, designed to cover risks associated with construction and energy sectors; medical insurance, which ensures coverage for healthcare expenses; motor insurance, providing protection for vehicles against accidents and damage; general accident insurance, which covers risks related to accidents; aviation insurance, providing coverage for aircraft operations; and marine insurance, which covers risks associated with shipping and transportation. Sukoon’s general insurance products are designed to be flexible, offering businesses and individuals the ability to protect their assets and operations in a cost-effective and efficient manner.
The Life Insurance segment at Sukoon Insurance is another pillar of the company’s business model, offering various products that provide financial protection and security for individuals and their families. This segment includes individual life insurance, with both participating and non-participating policies that allow policyholders to choose based on their financial goals. Sukoon also offers group life insurance policies, which are ideal for businesses looking to provide coverage for their employees. The credit life insurance offered by Sukoon ensures that outstanding debts are covered in the event of an unforeseen event, while investment-linked products combine life insurance with investment opportunities, allowing policyholders to grow their savings over time. These life insurance offerings are designed to cater to the diverse needs of customers, whether for long-term financial security, protecting loved ones, or generating investment returns.
The Investments segment at Sukoon Insurance focuses on managing the company’s own financial assets and investments, ensuring long-term growth and stability. This segment includes financial investments in a range of instruments such as stocks, bonds, and real estate, as well as non-financial investments that contribute to the company’s diverse portfolio. Sukoon also manages deposits with banks and offers cash management services, allowing the company to maintain a healthy cash flow and ensure that its financial resources are efficiently utilized. The strategic management of these investments ensures the company’s continued financial stability, enabling it to meet the evolving needs of its customers while expanding its market share and presence in the insurance industry.
Sukoon Insurance’s business is further enhanced by its various subsidiaries, which allow the company to expand its range of offerings and reach more customers. Key subsidiaries include Equator Insurance Agency L.L.C., Synergize Services FZ L.L.C., OIC Corporate Member Limited, and others. These subsidiaries play essential roles in the distribution and management of Sukoon’s products, providing specialized services such as insurance agency operations, corporate membership, and IT services. Through these subsidiaries, Sukoon Insurance is able to offer a broad spectrum of services, including tailored solutions for businesses, comprehensive risk management strategies, and customer-focused service delivery.
Sukoon Insurance’s ability to offer an extensive range of insurance products, backed by its financial stability, innovative approach, and customer-centric strategies, has made it a leading player in the UAE’s highly competitive insurance market. The company’s commitment to providing high-quality service, along with its focus on digital transformation and new product development, ensures that it remains a trusted partner for individuals, businesses, and institutions across the UAE. As the company continues to grow and evolve, Sukoon Insurance is well-positioned to meet the demands of the modern insurance market, providing comprehensive, reliable, and flexible solutions to meet the changing needs of its diverse customer base.
For corporate inquiries, investment opportunities, or partnership discussions, Sukoon Insurance PJSC’s head office is located at:
Omar Bin Al Khattab Street, Next to Al Ghurair Mall, Deira, P.O. Box 5209, United Arab Emirates.
