Buying insurance is one of the basic needs of an individual and insurance providers are fundamental to an economy. With the increasing number of expatriates and local population there has been a substantial rise in the demand of insurance in Dubai and the UAE. There are several insurance companies in Dubai that offer services and products to safeguard the future of the expatriates and their families. These companies in the UAE safeguard you from unforeseen events that you may come across in your business, personal life, health, etc. There are different types of insurance companies in UAE that offer a wide variety of insurance products such as life insurance, car insurance , health insurance, etc. There is a plethora of insurance companies in UAE that offers a wide variety of insurance which means choosing an adequate general insurance policy can be a baffling task for any individual.
It is imperative to have an understanding of the provisions of the scheme and the market presence of the provider, to choose the one that meets most of your preferences. This can be decided to depend upon the Incurred Claims Ratio (ICR), which indicates the financial capabilities of the insurance companies in Dubai and their ability to pay against the claims. What’s more, you can also analyze based on the policy benefits, additional covers, deductibles, and limitations. In order to save your time and aid you in making a well-informed decision, we have outlined some of the best general takaful providers in the UAE. Once you get an idea, we can aid you in getting insurance quotes from these providers!
Best Insurance Companies in UAE with their Products and Services Offered
Insurance Companies
Services and Products
Adamjee Insurance
Agriculture, Motor, Travel, Personal Accident, Financial Lines, Property, Engineering, Health and Marine Insurance Plans
Dubai National Insurance and Reinsurance
Motor, Medical Travel and Home as Personal Insurance Plans.
Personal Accident, Motor, Group Medical, Engineering, Liability, Marine and Property Insurance for Businesses
New India Assurance
Motor, Property, Engineering, Liability, Marine Cargo and Miscellaneous Business Insurance Plans
Life, Personal Accidental, and Medical Insurance Plans
Zurich Insurance
Life and Medical Insurance with Critical Illness covers
Takaful Emarat Insurance
Medical and Life Insurance for Individuals, Families and Business Groups
AFNIC
Medical, Travel, Property, Tenants, Engineering, Life, Aviation, Motor, Liability, and Marine Insurance for Individuals, Families and Business Groups
Here’s a quick run-down on different Insurance companies in UAE:
1. Adamjee Insurance Dubai
Adamjee Insurance Co. Ltd operates in the UAE in association with the Ministry of Economy. It is registered in line with the Federal Law No. 9, 1984, and is one of the oldest and best insurance companies in Dubai and the UAE. This company was established as a public company in 1960 and is listed on the Pakistan Stock Exchange. The competitive advantage of the company is achieved through the combination of significant reserves and paid-up capital as well as a diverse business portfolio.
Established in 1991, Dubai National Insurance and Reinsurance, is a Public Shareholding Company. It operates in the UAE under the liaison of Federal Law 6 of 2007. This company focuses on the medical, motor, home, travel, and many other commercial plans for group medical, engineering, group life, property & liability, and marine insurance Dubai. The company specializes in motor insurance and is considered as of the best vehicle insurance companies in Dubai.
3. New India Assurance
New India Assurance started its operations in 1961 in accordance with Saadi Group in Dubai. It is registered under liaison from the Ministry of Commerce, UAE. This company is a pioneer in the new policies and is a leader in the conventional general coverage. The company offers services in the UAE including Dubai and is one of the most popular insurance companies in Dubai.
4. Salama Islamic Arab Insurance
Salama Islamic Arab Insurance is the leading insurance provider of Sharia-compliant insurance solutions across the globe. Incorporated in 1979 in Dubai, it is one of the largest Takaful and Re-takaful Companies in the world. Salama offers a comprehensive range of takaful solutions that are approved by the shariah board of the jurisdiction.
5. Oman Insurance
Headquartered in Dubai, UAE, Oman Insurance is operating in the Middle East with 15 branches in every Emirate in the UAE, Qatar, and Sultanate of Oman. It offers a complete set of coverage for protecting the things that are valuable in your life such as your health, vehicle, and your family. The company offers a broad range of insurance products in the UAE and is considered one of the most reliable insurance companies in Dubai.
HSBC Insurance is one of the most prominent insurance companies in UAE. This provider offers both life and general insurance in Dubai. The coverage offers way more than just the settlement of the claim and provides comprehensive coverage for your travel, home, car, and the welfare of your family.
Incorporated in 2009, Noor Takaful has been at the vanguard of the Takaful sector in the Middle East. This is the first insurance company in UAE to abide by new Federal law no. 6 of the year 2017. Since its inception, Noor Takaful has been at the forefront in the Takaful sector within the Middle East. With a contemporary approach to Islamic insurance, this insurance company in UAE offers a series of innovative services and products to its customers.
8. WATANIA Insurance
Established in 2011, WATANIA insurance was incorporated in association with, Aldar Properties, Abu Dhabi National Insurance Company, Abu Dhabi National Islamic Finance, and Abu Dhabi National Energy Company. This company was created to form a takaful operator that could meet the market demand for products that are in compliance with Sharia principles making it one of the best insurance companies in UAE that follow Sharia law.
Oriental Insurance Dubai is the foreign branch of The Oriental Insurance Company Limited in India. It conducts its operations via ‘Armab Insurance Works LLC’ - a Chief Agency, since 1960. Since the time of incorporation, this insurer has been focusing on providing compatible policies to its customers.
Listed on the Abu Dhabi Securities Exchange and Licensed by the UAE Insurance Authority, Union Insurance Dubai was incorporated in 1998 in Dubai, UAE. It offers takaful coverage that comes with super-value and innovation. With its offices spread across the UAE, this provider is close at hand in serving the clients and holds a significant share of the market amongst all insurance companies in Dubai.
Recognized as the fully accredited National Takaful provider, National General Insurance (NGI) is amongst the leading composite insurance companies in UAE. NGI offers a variety of plans and expertise involving but not limited to marine, motor, construction, casualty and property, medical or health, investment insurance Dubai and more.
Incorporated in 1979, Al Sagr National Insurance Company (ASNIIC) is registered with the United Arab Emirates’ Ministry of Economy and Commerce and is another name in the list of the most prominent insurance companies in UAE. This is a public shareholding company licensed in line with the Federal Insurance Law No. 9 of 1984.
Founded in 2002, Dubai Islamic Insurance and Reinsurance Company (AMAN) is a public shareholding company. The takaful company works as per the Shari’ah guidelines under the aegis of Shari’ah Supervisory Board and Fatwa. It aims at offering a comprehensive system for Islamic Takaful Services, which support the security and stability of the communities.
14. Daman – PJSC – National Health Insurance Company
Established on 26th September 2005, Daman is one of the non-life insurance companies in UAE that focuses on providing world-class individual and group health insurance services to over 3 million members and users. Offering the clients comprehensive health insurance solutions and competitive insurance quotes, Daman has worked with a network of over 3000 healthcare providers, facilities, and hospitals ensuring a wider coverage for its members. Daman has been awarded several international and national awards for the service quality and the global reach of its network.
15. AXA Insurance
A French multinational insurance firm, AXA insurance is one of the largest global insurance providers in the world and has been a part of the Gulf insurance market for over 68 years. It also offers competitive insurance in Dubai as well other emirates, encouraging users to regularly compare insurance plans. AXA insurance offers a wide range of insurance services and products including car insurance, life insurance, health insurance, home insurance, and travel insurance to individuals, SMEs, and larger corporate groups.
16. RSA Insurance
One of the oldest and one of the best insurance companies in UAE, RSA insurance has been in the insurance business for over 300 years in total, beginning from the establishment of the original company known as Sun Insurance. This later converted into RSA Insurance that we know of today. RSA began its operations in UAE in the year 1956. It offers comprehensive covers for travel, car, life, house, health, golf, and personal accidental insurances.
17. ADNIC – Abu Dhabi National Insurance Company
A leading national insurance provider based in Abu Dhabi, ADNIC or Abu Dhabi National Insurance Company was founded in 1972 and is the third-largest insurance provider in the country as of 2015. ADNIC provides insurance services in the UAE and the North African Regions mainly. With customer-centricity, loyalty, and reliability as its core values, ADNIC offers several personal and business insurance policies in life, health, motor, home, travel, aviation, engineering, and liability insurance fields.
18. Alliance Insurance
Founded in 1975, Alliance Insurance has quickly grown to become one the top insurance providers in the Emirates during the last 40 years of its establishment. Alliance insurance offers an extensive number of insurance policies and products including home and liability insurance. The company has several branches all over in Dubai Abu Dhabi, Sharjah, Al Ain, and Jebel Ali with the head office located in Dubai.
19. Tokio Marine
Tokio Marine is one the oldest and the largest non-life insurance companies in Japan and has been a part of the UAE insurance market since 1976 although, its roots can be traced back to the year 1879. The company operates in 45 countries including UAE and has been a source of reliable insurance services from the very start for the residents of the Emirates. Tokio Marine offers several kinds of insurance policies including car, travel, home, corporate, and SME insurance plans, tailor-made to suit every need making it one of the best insurance companies in UAE.
20. Al Wathba
With its headquarters established in Abu Dhabi, Al Wathba National Insurance Company has been operating the Emirates for the past 20 years with the support of an internationally renowned reinsurers’ panel. The company was established in 1996 and offers a wide range of comprehensive plans for individuals, corporates, and families. With both offline and online platforms, Al Wathba has made it rather easy to buy online insurance in UAE while allowing one to compare insurance plans ideally as well.
21. Insurance House PSC
Offering a rather comprehensive range of insurance products and services, Insurance House PSC is another one of the rapidly growing new faces in the insurance market of UAE. With services that are on par with the locally centered requirements and in competition to the internationally set standards, Insurance House continuously strives to ensure that it serves its customers well. The company offers insurance policies in several sectors catered to the needs of individuals, family, and corporates and specialises in motor insurance plans.
22. MetLife
Specialising in flexible insurance products that are best suited to the needs of each individual customer, MetLife is an America-based insurance company set up over 65 years ago with its headquarters in Dubai. Now, the company operates in Bahrain, Kuwait, Oman, and Qatar along with the UAE offering a range of comprehensive insurance plans with special attention paid to retirement and savings-related products. MetLife is the place to scout if you are looking for cheap insurance in Dubai that also offers a significant amount of benefits.
23. Zurich Insurance Group
Playing very strong with the concept of sustainability in their performance as an insurance company and as a business, Zurich Insurance Group is another new player that came into existence in the year 2009. The company has been providing insurance in UAE along with other 215 countries around the world, setting new standards for quality services. Zurich caters to a wide scope of customers including individuals, families, small and medium-sized firms, and large corporations.
24. Takaful Emarat
Another pillar of the Islamic insurance sector of UAE, Takaful Emarat is a leading name among the top sharia-compliant insurance firms. Takaful Emarat is one the leading life and health insurance companies in UAE that was established in the year 2008 and offers a variety of savings, protection, and investment plans through offline as well as online channels. They hold expertise in designing new and more complacent insurance policies that are in line with the new and changing needs of the customers as well as Sharia Compliance.
25. Qatar Insurance
The very first domestic insurance company in Qatar, the Qatar Insurance Company has a history of quality and consistent performance over 50 years of its existence. This has earned the company a very stable place in the insurance market of Qatar as well as the MENA region as the leading insurance provider. The company was founded in the year 1964 and offers a wide range of insurance products and services catering to the individual need of each group of customers. Qatar Insurance also offers its service and products related to insurance in UAE now.
26. AFNIC
Al Fujairah National Insurance Co (AFNIC) was founded in the year 1976 and is the only insurance company in UAE that has its headquarters located in Fujairah. Government is the major shareholder of AFNIC with 80% of the shares held by the Fujairah government. AFNIC serves in the entirety of the United Arab Emirates and has offices in Dubai, Dibba, Abu Dhabi, and Sharjah. On top of that, AFNIC also has its insurance products available on the insurance ATMs, a new service started by the UAE government in the lieu of technological advancements.
27. RAK Insurance
RAK Insurance or Ras Al Khaimah National Insurance Company was established in the year 1974 making it one of the oldest insurance companies in UAE. RAK insurance has bagged several awards since its inception including runner-up award of Customer Happiness Summit, winner of Menar Insurance Awards (2018), Best UAE Medical Insurance Company of the Year (2018), and winner of Digital Initiative of the Year Award. RAK has its office all across UAE and a significant digital presence as well.
