Sukoon Insurance PJSC - Company Profile
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Sukoon Insurance PJSC (Sukoon) is a subsidiary of Mashreq Bank (PSC). It is a public joint stock company engaged in providing a range of insurance services. The company's main activities include issuing short-term and long-term insurance contracts and trading in securities. Sukoon offers a variety of insurance products, including property, engineering, energy, motor, aviation, medical, marine risks, personal accident, individual life, group life, credit life, and investment-linked products. Sukoon's products serve individual and business customers across various industries, providing coverage for personal and commercial needs. The company distributes its products through a network that includes direct sales and partnerships. Sukoon operates in multiple geographic locations, including the UAE, Oman, Qatar, and the UK. Sukoon 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
No of Employees
700
Industry
Financial Services
Ticker Symbol & Exchange
SUKOON (DFM)
Revenue (2024)
$1.3B
15.4%
(2024 vs 2023)
EPS
XYZ
Net Income (2024)
XYZ
3.4%
(2024 vs 2023)
Market Cap*
$681.7M
Net Profit Margin (2024)
XYZ
-10.3%
(2024 vs 2023)
* As of and is in US$
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 |
|---|---|---|
| 2025 | Contracts/Agreements | In March, the company partnered with Yallacompare (YC) to provide customized accident and health insurance solutions to YC’s customers. |
| 2024 | Acquisitions/Mergers/Takeovers | In September, the company acquired the UAE life insurance portfolio of Chubb Tempest Life Reinsurance. |
| 2024 | New Products/Services | In September, the company introduced advanced video conferencing feature for Life insurance customers. |
Competitor Comparison
| Key Parameters | Sukoon Insurance PJSC | Abu Dhabi National Insurance Company PJSC | Orient Insurance PJSC | Emirates Insurance Co (PSC) | Al-Sagr National Insurance Company PSC |
|---|---|---|---|---|---|
| Headquarters | United Arab Emirates | United Arab Emirates | United Arab Emirates | United Arab Emirates | United Arab Emirates |
| City | Dubai | Abu Dhabi | Dubai | Abu Dhabi | Dubai |
| State/Province | - | Abu Dhabi | Dubai | Abu Dhabi | - |
| No. of Employees | 700 | 257 | 1 | 304 | 324 |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Badr Abdulla Al Ghurair | Chairman | Executive Board | - | - |
| Mohamed Abdel Hamid Abdel-Razek | Vice Chairman | Executive Board | - | - |
| Emmanuel Deschamps | Head - Individual Life and Workplace Savings | Senior Management | 2021 | - |
| Abdul Aziz Abdulla Al Ghurair | Director | Non Executive Board | - | - |
| Muhammad Danial Khan | Head - Actuarial and Risk Management | Senior Management | - | - |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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