Sukoon Insurance PJSC - Company Profile
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Sukoon Insurance PJSC, formerly Oman Insurance Co PSC is a subsidiary of Mashreq Bank (PSC), is a multi-line insurance company. The company offers a wide range of life insurance, general insurance, and health insurance products to individuals and business customers. It offers term life insurance, whole life insurance, critical illness insurance, unit-linked plans, individual health insurance plans, comprehensive motor insurance, third-party liability motor insurance, home insurance, travel easy policy. It also offers insurance products for group life and personal accident, group health, marine cargo, marine hull, property, business travel, engineering, and aviation. It has branches in Dubai, Abu Dhabi, Sharjah, Ajman, Ras al Khaimah, Fujairah, Al Ain, Qatar, Doha, and Muscat. It also operates in Oman and Qatar. Oman Insurance is headquartered in Dubai, the UAE.
Headquarters
United Arab Emirates
Address
Omar Bin Al Khattab Street, , Next To Al Ghurair Mal Deira, P.O. Box 5209, Dubai
Website
www.sukoon.com
Telephone
971 4 2337777
Industry
Financial Services
Ticker Symbol & Exchange
OIC (DFM)
Revenue (2022)
$516.1M
-3.1%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
8.3%
(2022 vs 2021)
Market Cap*
$490.5M
Net Profit Margin (2022)
XYZ
11.9%
(2022 vs 2021)
* As of and is in US$
Sukoon Insurance PJSC premium industry data and analytics
Products and Services
| Products | Brands |
|---|---|
| Individual Insurance | Sukoon |
| Life Insurance: | |
| Term Life Insurance | |
| XYZ | |
| XYZ | |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2023 | Acquisitions/Mergers/Takeovers | In September, the company acquired the UAE life insurance portfolio of Chubb Tempest Life Reinsurance. |
| 2023 | Acquisitions/Mergers/Takeovers | In May, the company completed the acquisition of 93.0432% of the share capital of Arabian Scandinavian Insurance Company P.S.C. |
| 2023 | Contracts/Agreements | In February, the company in partnership with Aster DM Healthcare launched two new health insurance plans. |
Competitor Comparison
| Key Parameters | Sukoon Insurance PJSC | Abu Dhabi National Insurance Company PSC | Orient Insurance Company PJSC | Islamic Arab Insurance Co PJSC | Emirates Insurance Co (PSC) |
|---|---|---|---|---|---|
| Headquarters | United Arab Emirates | United Arab Emirates | United Arab Emirates | United Arab Emirates | United Arab Emirates |
| City | Dubai | Abu Dhabi | Dubai City | Dubai | Abu Dhabi |
| State/Province | - | Abu Dhabi | Dubai | Dubai | - |
| No. of Employees | - | 257 | 1,700 | 58 | 120 |
| Entity Type | Public | Public | Private | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Abdul Aziz Abdulla Al Ghurair | Chairman | Executive Board | - | - |
| Ali Rashed Ahmad Lootah | Vice Chairman | Executive Board | - | - |
| Jean-Louis Laurent Josi | Chief Executive Officer | Senior Management | 2018 | - |
| Christopher Wildee | Head - Commercial Lines | Senior Management | 2018 | - |
| Emmanuel Deschamps | Head - Individual Life and Workplace Savings | Senior Management | 2021 | - |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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