Dubai, 25 October 2003: Dubai Islamic Insurance and Reinsurance Company, AMAN, has launched a new family of healthcare-cover packages for UAE clients. The company’s comprehensive, flexible and open-to-all range of Islamic insurance products are the first major Islamic health insurance products in the UAE.
 
Announcing the new range of health insurance products at a special media briefing at the Al-Bustan Rotana Hotel in Dubai today, Sultan Saeed Al Mansoori, Chairman of AMAN, said: “We believe there is a considerable requirement and demand for healthcare insurance in the market. This new health insurance offering is the first of its kind in the UAE, and it caters to different market segments.”
 
As leading provider of Islamic-based insurance products in the UAE, AMAN is offering Family Takaful in all classes of insurance. Five schemes are offered, giving a variety of geographical coverage and service levels. AMAN provides a bespoke service that organisations can adapt to their existing corporate structures rather than developing individual policies case-by-case.
 
“Covers can be tailor-made to suit the requirements of any organization or individual,” said Hussain Al-Meeza, the company’s managing director. AMAN’s suite of insurance products and services now cover fire, engineering, general accident, liabilities, marine, motor and family takaful.
 
Of the five plans, top-of-the-range Al-Shamel is designed for senior management executives. It offers worldwide coverage (excluding USA and Canada) and up to AED 1 million cover per policy per year. Wiqaya offers similar worldwide coverage. While comprehensive, it is more affordable, with a cover limit of AED 500,000.
 
Himaya offers regional coverage to senior and middle management executives to a cover limit of AED 250,000. Mo’azara offers adequate protection AED 100,000 at a competitive premium. Finally, Sanad is the most economical policy, with UAE-only coverage to a limit of AED 50,000. All schemes provide hospital accommodation, a telephone helpline for medical assistance and refunds on day or in-patient care.
 
"The most important elements of good medical insurance are broad coverage clearly set out, admission to best available hospitals, clinics and medical centres and above all, fast no-surprises claim resolution. Our goal is to meet those requirements while ensuring that our customers' needs are completely satisfied," said Fareed Lutfi, AMAN’s General Manager.
 
“These packages will help companies to provide their employees with health insurance no matter what size their organisation is. Whether low-level or senior management needs to be covered, our comprehensive range of products and services will provide speedy and convenient answers for local businesses looking for efficient solutions,” said Mohammad Naseem, AMAN’s Manager, Life and Medical Division.
 
Claims administration will be run by Neuron LLC. “Our advanced computer systems have a remarkable record of efficiency and success across the world’s five continents. Neuron is delighted to be assisting AMAN’s clients with its roster of experienced insurance and medical professionals in dealing with both major and minor healthcare issues,” said Peter Hogg, Neuron’s Managing Director.
 
In its capacity as a fund manager for policyholders, AMAN invests the insurance premiums on their behalf, through the Islamic mechanism of mudaraba, distributing the profits that accrue on an annual basis, the amount being determined by the company’s operating results.
 
AMAN’s investment and insurance activities are conducted according to the Shariah, under the supervision of a Fatwa and Shariah Board whose members are specialists in Islamic economics and Shariah transactions.
 
-Ends-
 
Notes to Editors:
AMAN is licensed in Dubai by the Dubai Department of Economic Development to offer a range of insurance and re-insurance products, in compliance with the principles of Islamic Sharia. The company aims to reach a prominent position in the UAE insurance sector by providing customer-focused services. Last year, it saw its IPO more than five times oversubscribed.
 
Dubai Islamic Bank and other Islamic-oriented promoters set up Aman and hold 45 percent of its capital. Local investors hold the rest.
 
For further information, please contact:
Fakher Daghestani / Sameh Hamtini
ASDA’A Public Relations,
Burson-Marsteller exclusive affiliate in the Middle East
Dubai,
UAE
Tel: +971-4-3344550
Fax: +971-4-3344556
E-mail: info@asdaa.com

© Press Release 2003