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One of the pioneering insurance companies in the region, Emirates Insurance Company was established by virtue of law No 6 of 1982 issued by Sheikh Zayed Bin Sultan Al Nahyan. The company opened its doors with only a handful of staff from its only branch in Abu Dhabi. After over 40 years of dedication, outstanding service and commitment to all our stakeholders, Emirates Insurance Company, now operates from more than 20 offices across the country and employs over 300 staff.
Corporate Objectives
Emirates Insurance strives to deliver the best-in-class customer service and attractive shareholders return. Emirates Insurance aspires to be the leading force in the insurance industry. Leadership combines professional skills, capital strength, and customer focus to generate economic profit growth.
Generate Profitable Growth
Emirates Insurance is committed to providing sustainable growth for its shareholders, and therefore allocates capital and other resources by assessing each business opportunity in both risk adjusted and cost-adjusted terms. Profitable growth also requires disciplined management of the insurance cycle based on a combination of scale, diversification and sound underwriting principles. The focus on economic profit secures the quality of the EIA’s earnings and makes Emirates Insurance strong, dependable partner for clients.
Corporate Objectives
Reduce Investment Volatility
In addition to its scale, EIA applies a wide range of tools to reduce investments volatility, including limiting downside exposure while capturing attractive risk-adjusted returns on assets. By addressing potential sources of volatility on both sides of balance sheet, Emirates Insurance aims to deliver sustainable earnings to shareholders.
Operate as a Truly National Insurer
Core Values
The changing risk landscape and the fast paced expansion of the UAE economy creates opportunities for Emirates Insurance to extend its presence into new locations within UAE and markets and develop innovative products for existing markets. As a client-driven company, Emirates Insurance focuses both on deepening relationships with Existing customers as well as on attracting new ones. The skills and resources the Company intends to develop, such as risk models and asset management, have significant commercial value for clients, bringing additional opportunities for growth through cross-selling.
Nurture Talent, Culture, & Organizational Excellence
The Company’s long-term success depends critically on its on ability to attract and retain the best people. Client and shareholders benefit from the innovation and responsiveness of Emirates Insurance’s results-oriented approach, which applies capabilities through cross-functional teams. In order to achieve effective risk control and disciplined underwriting, Emirates Insurance has separated also responsibility for client service, underwriting, reserving, and reporting, allowing market-leading transparency and best in class service, as well as attractive, sustainable returns for shareholders.
Strategic Pillars
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Participate in the GCC and Afro-Asian Markets
EIA International was formed in 2012 to enable EIA to underwrite a cross border book of business that complements our existing retail domestic business. Starting with offering facultative capacity to the Afro Asian energy and marine markets and eventually extending to other classes of non-marine reinsurance products.
Provide Best in Class Customer Service
Emirates Insurance’s dedicated focus enables the EIA to utilize its expertise to develop effective solutions for our clients. The customer service initiative is the primary driver for our delivering of best in class customer service.
Respect and maintain a Culture of ERM
Emirates Insurance’s Enterprise Risk Management shall facilitate the creation of sustainable competitive advantage, optimize the cost of managing risk and help management improve business performance. The Risk Appetite for both insurance and investments activities are monitored, adjusted and updated on a continuous basis.
Ensure Business Continuity
Expand the current disaster recovery program to deal with any realistic disaster scenario which might place the business at risk.
Our Vision
To be a leading national force in the insurance industry, combining professional resources and skills with customer focus to deliver profitable growth.
Our Mission
“ To operate our national company to International standards.”
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Sound underwriting skill: provide competitive products and ensure EIA’s superior profitability.
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Proactive sales approach: target most attractive client relationships.
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Performance culture and compensation of individual contribution: attract most talented staff.
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Need-driven product offering: closely align product development with client requirements.
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Uncompromising Risk Management Philosophy: Not only to underwriting decisions but also Investment management