List of General Insurance Companies in the UAE
Buying insurance is one of the basic needs of an individual and insurance providers are fundamental to an economy. For a booming economy, insurance companies are a fundamental need. Insurance providers safeguard you from the unforeseen events that you may come across in your business, personal life, medical, etc. There are different types of insurance such as life insurance, car insurance, home content insurance, etc.
There are a plethora of insurance policies that are offered by different insurance providers, banks and brokers. Choosing an adequate general insurance policy among them can be a baffling task for any individual.
It is imperative to have an understanding of the provisions of an insurance scheme and the market presence of the insurance provider, to choose the one that meets most of your preferences.
You can decide it depending on the Incurred Claims Ratio (ICR), which indicates the financial capabilities of the insurance company and its ability to pay the insurance claims. What’s more, you can analyze on the basis of the policy benefits, additional covers, deductibles, and limitations.
Before finalizing the one, it is recommended to check the policy document and its wordings, as general insurance policies may vary when it comes to comprehensive coverage.
So, in order to save your time and aid, you make 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 quotes from these general insurance providers!
Below is the list of General Insurance Companies in the UAE:
Adamjee Insurance:
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.
Dubai National Insurance & Reinsurance:
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.
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.
Salama Islamic Arab Insurance:
Salama Islamic Arab Insurance is the leading insurance provider of Shari’ah compliant insurance solutions across the globe. Incorporated in 1979 in Dubai, it is one of the largest Takaful and Re-takaful Companies of the world.
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.
HSBC Insurance:
HSBC Insurance is one of the most prominent insurers in the Middle East.
Noor Takaful Insurance:
Incorporated in 2009, Noor Takaful Insurance has been at the vanguard of the Takaful sector in the Middle East. This is the first entity to abide by new Federal law no. 6 of the year 2017.
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.
Oriental Insurance:
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.
Union Insurance:
Listed on the Abu Dhabi Securities Exchange and Licensed by the UAE Insurance Authority, Union Insurance was incorporated in 1998 in Dubai, UAE. It offers superior-value and innovation takaful coverage.
National General Insurance:
Recognised as the fully accredited National Takaful provider, National General Insurance (NGI) is among the leading composite insurance companies in the UAE.
AL Sagr National Insurance Company:
Incorporated in 1979, Al Sagr National Insurance Company (ASNIIC) is registered with the United Arab Emirates’ Ministry of Economy and Commerce. This is a public shareholding company licensed in line with the Federal Insurance Law No. 9 of 1984.
Dubai Islamic Insurance and Reinsurance Company:
Founded in 2002, Dubai Islamic Insurance and Reinsurance Company (AMAN) is a public shareholding company. The takaful company words as per the Shari’ah guidelines under the aegis of Shari’ah Board and Fatwa.