Oman Insurance Company (OIC) announces its selection as a preferred provider for Aircrew Protection International (API) offering airline pilots life insurance and investment plans.
Each of the 1,700 members will have the opportunity to subscribe to a comprehensive life insurance policy up to the maximum of US$500,000. Eligible members will also participate in an investment platform designed to complement their wealth management and retirement planning goals.
"Oman Insurance's Workplace and Retirement Plan is a fully integrated solution allowing members to have access to world class fund managers and to participate in cutting-edge asset allocation choices such as ETF's." stated Katy Hallside, Employee Benefits Manager at Expat Cover Insurance Consultancy LLC (part of the Mondial Group), consultants for API and architects of the Plan.
"Members will have simple online access to complete all administrative tasks. Additionally, the Plan is totally portable, which means pilots can retain it even if they change employer or country of residence." added Katy Hallside.
Speaking about the partnership Patrick Choffel, OIC Chief Executive Officer, said: "We are delighted to have earned the trust of the pilot group. Oman Insurance's Investment Plan will give them a comprehensive and unique solution for their long term savings."
"The majority of UAE residents are inadequately prepared for life after work. We believe that investing for the future is one of the most important subjects for the coming years and it will have a profound impact in the regional economic development." added Patrick Choffel.
About Aircrew Protection International
Aircrew Protection International was started in 2005 as a non-profit mutual-benefit plan specifically for Dubai-based airline pilots to provide a loss of medical license protection plan. Aircrew Protection International provides financial support to 9 pilots who have lost their medical licenses and currently has over 1,700 pilot members.
About Mondial
Mondial (Dubai) LLC ("Mondial") was founded in 1988 and is one of the oldest and most well established financial planning and wealth management organisations in the UAE. It is licensed by the UAE Securities and Commodities Authority (SCA.) Mondial's sister company, Expat Cover Insurance Consultancy is regulated by the UAE Insurance Authority.
Licensing under the SCA allows Mondial to carry out the function of banking, finance, investment and wealth management consultations. Managing in excess of over USD 1 billion, it services over 8,000 clients.
About Oman Insurance Company
Oman Insurance Company (P.S.C.) (OIC) was established in 1975 and is one of the leading insurance providers in the Middle East. OIC has operations across Emirates in the UAE as well as in Oman, Qatar and a subsidiary in Turkey. OIC also owns a medical third-party administrator in Iraq operating under the name of "Support Management Services".
OIC provides a wide range of insurance solutions for individuals and enterprises in Life, Medical and General insurance. With a gross written premium of AED 3.25 billion in 2014, OIC is rated 'A Excellent' by AM Best and 'A- Positive Outlook' by Standard & Poor's.
Additional information about Oman Insurance Company can be found at www.tameen.ae.
Celia Almeida
Marketing Manager
Oman Insurance Company
Tel: +971 4 233 7970
Email: media@tameen.ae
Julien Audrerie
SVP Customer Integration
Oman Insurance Company
Tel: +971 4 233 7539
Email: media@tameen.ae
© Press Release 2015
