The UAE insurance sector has matured quite well over the past few years and continues to be attractive to both local and international players. This article lists the top 10 insurance companies in UAE as of 2022, based on their assets and net worth, and also touches on their products and services as well as their key strengths and weaknesses.
1) Abu Dhabi National Insurance Company
Abu Dhabi National Insurance Company (ADNIC) is a wholly-owned subsidiary of Abu Dhabi Financial Group (ADFG). Established in 1977, ADNIC is the oldest life insurance company in the United Arab Emirates. ADNIC has more than 15 million policyholders and 1,500 employees. The company offers life and general insurance products for both individuals and businesses to support their financial goals.
2) Mubadala
Mubadala is a leading global investment company owned by the Abu Dhabi Government. With a history spanning over 25 years, Mubadala has become one of the world’s top international investors and business advisors.
3) Etihad
Forbes has ranked Etihad as one of the top ten best insurance companies in UAE. The company provides a variety of services including auto, health, and life insurance. With a diverse range of services, customers can feel secure knowing that their needs are met. In addition to providing these products, Etihad is also an international airline operating out of Abu Dhabi International Airport and currently flies to over 120 destinations.
4) Daman (health insurance company)
The National Health Insurance Company – Daman, headquartered in Abu Dhabi, is the largest health insurance provider in Abu Dhabi and the third largest in Dubai.
Abu Dhabi Developmental Holding Company (ADQ) owns 80% of Daman’s shares, with the remaining 20% owned by Munich Re, who is also a strategic partner. By being part of the ADQ network, which spans a broad portfolio of major enterprises across key sectors of Abu Dhabi’s diversified economy, Daman draws on established expertise, aligning the company with ADQ’s strategy and governance frameworks.
5) Oman Insurance Dubai
Oman Insurance Company is a composite insurance company headquartered in Dubai, UAE that sells insurance for individuals and businesses in UAE, Oman and Turkey. Established in 1975 with majority ownership by Mashreq Bank, Oman Insurance Company is one of the largest publicly listed insurers in the country.
6) Emirates NBD (Insurance)
Emirates NBD (Insurance) is a bank that provides different types of financial services, including insurance. The company offers car insurance, health insurance, and auto insurance to clients. Emirates NBD (Insurance) has been operating since 1977. It has 3 branches and 18 ATMs throughout the country.
7) Takaful Emarat, LLC (Takaful)
Takaful Emarat, LLC (Takaful) is a takaful company that provides insurance and risk management services to individuals and businesses. Takaful was established in the year 1991 by a group of investors from Abu Dhabi. The company has been providing its services to individuals, corporates, institutions, families and communities since then.
8) National Takaful Company BSC (NTC), LLC.
The National Takaful Company BSC (NTC), LLC. was establish as a Public Limited Liability Company under the Ministry of Commerce and Industry in the year 2002, under the name of National Takaful of Abu Dhabi, to provide insurance services for motor vehicles to its members. In 2003, it changed its name to National Takaful Company BSC (NTC), LLC. which is still currently active and functional.
9) Mashreq Takaful Company BSC (MTC), LLC.
Mashreq Takaful Company BSC (MTC) is an insurance company headquarter in Dubai, United Arab Emirates. It was establish in 2005 and is a joint venture between Mashreqbank P.J.S.C. and Takaful Emarat General Insurance Company, LLC (TEGIC). MTC provides products like personal, commercial and life insurance to individuals, companies and institutions locally as well as internationally via its website.
10) Arabian Shield Company, LLC.
The Arabian Shield Company, LLC. is an insurance company providing personal and commercial insurance to clients throughout the United Arab Emirates.
The company provides a wide range of products including travel, health, life and home insurance to clients in Dubai, Abu Dhabi, Ajman and Ras Al-Khaimah. these are the Top 10 Insurance Companies in UAE.
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