Sukoon Insurance
 | |
| Company type | Public |
|---|---|
| DFM: OIC | |
| Industry | Insurance, reinsurance |
| Founded | 1975 |
| Headquarters | Dubai, United Arab Emirates |
Key people | |
| Products | Life, health, motor, property, casualty, liability, trade credit, marine and aviation insurance |
| Revenue |  AED 3.54 billion (2021) [1] |
| AED 206.1 million (2021) | |
| Total assets | AED 7.57 billion (2021) |
Number of employees | 650 |
| Website | www |
Sukoon Insurance previously known as Oman Insurance Company (Arabic: شركة عُمان للتأمين "سكون" ش.م.ع) is a composite insurance company headquartered in Dubai, UAE that sells insurance for individuals and businesses in UAE and Oman. Established in 1975 with majority ownership by Mashreq Bank, Sukoon is one of the largest publicly listed insurers in the country. Abdul Aziz Abdullah Al Ghurair is the chairman and Jean-Louis Laurent Josi is the CEO of Sukoon.
History
In 1975, Oman Insurance was launched by Abdulla Al Ghurair.[2]
On 6 October 2022, Oman Insurance has rebranded to Sukoon.[2]
On 6 August 2025, Jean-Louis Laurent Josi resigned as CEO of Sukoon Insurance.[3]
Products
Oman Insurance Company provides Life, Medical, and General insurance covers including products such as Trade Credit insurance.[4] Insurance feature verticals including Healthcare, Motor, Property, Travel, Life, Engineering, Marine Hull, Aviation & Space, Energy, Marine Cargo, and Liability.
With its head office in Deira, Dubai, Oman Insurance has 11 branches in UAE along with 2 agency managed branches in Sharjah and Dubai.[5] The company currently employees over 650 staff, a network of agents, and works with international and local insurance brokers. The company also offers regional insurance products through its wholly owned subsidiaries in Oman and Turkey.[6] Oman Insurance was the first to offer STP (Straight Through Processing), real-time motor policy issuance to its UAE customers in 2020.[7]
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.[8]
Partnerships
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.[9]
Generali
Oman Insurance partnered with Generali Global Pension to give retirement insurance plans in 2019.[10] Oman Insurance is also a member of Generali's global network that offers multinational pooling and captive arrangements to multinationals. Oman Insurance also partnered with Generali in 2020 to offer home insurance to high net-worth clients in the UAE.[11]
Coface
Coface is Oman Insurance's regional partner in UAE to sell credit insurance.[12]
References
- ^ "- Sukoon Insurance". www.sukoon.com.
- ^ a b Ahmed, Zubina (2022-10-07). "Oman Insurance unveils new corporate logo, rebrands as Sukoon". Retrieved 2022-10-17.
- ^ "Jean-Louis Laurent Josi Resigns as CEO of Sukoon Insurance". www.atlas-mag.net. Retrieved 2025-09-09.
- ^ "Oman Insurance Company (OIC) / Our Partners / About Coface / About Coface - Coface".
- ^ "Contact Us - Oman Insurance Company".
- ^ "Oman Insurance Company completes 100% acquisition of Dubai Starr Sigorta". NS Insurance. 2020-07-30. Retrieved 2024-05-23.
- ^ "UAE: Oman Insurance cuts motor claim processing time by 50%". Middle East Insurance Review. Retrieved 2024-05-23.
- ^ "A.M. Best Affirms Ratings of Oman Insurance Company P.S.C. | Reuters". Reuters. Archived from the original on 2015-09-24. Retrieved 2017-07-01.
- ^ "Insurance plans from Oman Insurance & Bupa Global". uae-medical-insurance.com.
- ^ "Oman Insurance Company Partners Generali". 2020-12-06.
- ^ "Oman Insurance Company". ArabianBusiness.com. 2010-02-28.
- ^ "kernel (1) - Coface". www.coface.ae.