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 Nahayan. The company opened its doors with only a handful of staff from its only branch in Abu Dhabi. After 30 years of dedication, outstanding service and commitment to all our stakeholders, Emirates Insurance Company , a semi government company, now operates from 30 offices across the country and employs over 250 staff.
Listed on the Abu Dhabi Securities Market and now rated among the best insurance companies,not only in the United Arab Emirates,but the whole GCC region. Emirates Insurance Company has come a long way since its inception in 1982.
EIC is now the 4th largest insurance company based on Gross Written Premium and carries the well respected AM Best “A-“Rating. The rating is indicative of the financial strength and professional management of the company.
Emirates Insurance Company was established by virtue of law No 6 of 1982 issued by Sheikh Zayed Bin Sultan Al Nahayan and started operations with AED 60 million capital. The company opens its Head office in Hamdan Street Abu Dhabi and one branch in Al Ain with 25 employees.
A new office opens in Sila to serve customers visiting UAE from other countries. The Head office moves from its Hamdan Street location to Abu Dhabi National Food Stuff Building in Electra Street.
The Company moves its Head Office from Electra Street to its current location in the Emirates Insurance Building in the Tourist Club Area.
The Dubai branch opens to expand Emirates Insurance Company across other Emirates.
The Operating system becomes fully computerized.
Emirates Insurance Company is listed on the Abu Dhabi Securities Exchange when the market was first established in November, 2000.
Emirates insurance Company becomes an ISO 9000 accredited company.
Share Capital Increases to Aed90m.
The Life & Medical Insurance Department begins offering medical cover to all expatriates with Abu Dhabi Residences Visas living in the UAE. Share Capital is increased to Aed120m.
Total assets of the Company exceed AED 2 billion for the first time.
Standard & Poor’s assigns its first interactive S&P rating in Abu Dhabi to Emirates Insurance Company acknowledging the Company’s financial strength and professional management.Emirates Insurance Company celebrates 25th Anniversary in grand style with an elegant gala dinner.The company crosses AED 600 million in premium income for the first time.Two new offices are opened in Sharjah and Musaffah to expand the network of offices to service all customers throughout UAE.
EIC opens its new office in Business Bay and obtains an AM Best “A-“ rating.The Board decides to de-risk the Investment Portfolio significantly and management establishes a local and international Bond Portfolio.Share Capital is increased to Aed135m.
EIC Establishes itself in the Western Region, opening 5 satellite offices.
EIC International is inaugurated adjacent to the DIFC specializing in International Energy Facultative Reinsurance. EIC becomes an exclusive partner of Western region municipality and operates from TAMM centers to provide motor insurance products to locals and expatriates.
The company crosses Aed700m in Gross Written Premium for the 1st time. EIC is selected within 20 governmental and semi-governmental companies to participate in the “ABSHER INITIATIVE”