Emirates Insurance celebrates 25 successful years in the Middle East

Press Release Content

Commemorates silver jubilee with elegant gala dinner.

Emirates Insurance Co. (PSC), one of the pioneering Insurance companies in the region, hosted a gala dinner at Le Royal Meridien Hotel, Abu Dhabi on October 14^th 2008. The celebration was held to commemorate 25 years of accomplishments since the company's inception, including the distinction of being the first Abu Dhabi company to be assigned a Standard and Poor's (S&P) interactive rating, and set the stage for future successes.

The invitees at the function included key clients, agents, international re-insurance companies and brokers. Speaking on the momentous occasion, Mr. Jason Light, CEO, Emirates Insurance Co. said, "It is with immense pride that we celebrate 25 years of excellence in Insurance.

As a national organization operating to international standards we have achieved a great level of success over the past two and a half decades, thanks to the patronage of our customers, partners and the Government. Over the next few years we will continue to leverage our extensive experience, intimate knowledge of the local market and strong relationships to deliver value to our clients, partners and shareholders".

Founded in 1983, Emirates Insurance Company has a strong focus on corporate insurance. It has been experiencing a phenomenal growth of 80% in premium income for the first half of this year as compared to last year - way above industry growth rates.

In July of this year, the international rating agency Standard and Poor's assigned it's first interactive S&P rating in Abu Dhabi to Emirates Insurance, giving the company a BBB+ interactive insurer financial strength rating with a stable outlook. The rating is indicative of the financial strength and professional management of the company and comes at a perfect time when Emirates Insurance is celebrating it's 25^th anniversary.

With the current expansion of the Dubai branch office, plans to open 2 more offices in the UAE by the end of this year and a newly appointed senior management team, the company is well on it's way to becoming one of the leading forces in the UAE Insurance sector.

Notes and contacts

About Emirates Insurance Co.

One of the pioneering insurance companies in the region, Emirates Insurance Company (PSC) was incorporated in 1983. It is listed on the Abu Dhabi Securities market and is rated among the best insurance companies in the United Arab Emirates.

Emirates Insurance Company has an authorized and issued share capital of AED 120 million, with net assets exceeding AED 1 billion. 12% of the shares in the company is held by the Government. The company employs 180 staff in 9 offices across the Emirates. The main offices are in Abu Dhabi, Dubai, Jebel Ali Free Zone and Al Ain with satellite offices in SILA, Musaffah, Guwaifat and various offices at traffic departments.

LATEST PRESS RELEASES