S&P has reaffirmed the A - Stable rating for Oman Insurance Company (OIC), an important insurance player in the GCC and one of the UAE’s leading insurers, reflecting the company’s extremely strong capital adequacy, diversified book of business, extensive distribution network and competitive position.
With a market share in the UAE of about 18% at year-end 2017, OIC continues to grow in a highly competitive market, while focusing on service excellence, profitable underwriting and strong enterprise risk management. Additionally its longstanding relations with international insurers and reinsurers positively complement the local insurer’s offering and strength.
Commenting on the ‘Stable’ outlook, S&P’s report highlights that “the company’s capital adequacy will remain at the ‘AAA’ level and support its business growth and diversification plans over the next two year.”
Jean-Louis Laurent Josi, Chief Executive Officer at OIC states, “Our rating is not only a reflection of OIC’s strong capital basis and our ability to protect our clients but also reflects the quality of our services and our products. Our clients as well as our business partners trust in OIC’s over 40-year history and they enjoy our capabilities that make us a leading insurer in this market. That success is also the result of the work of exceptional teams and I am very confident that, with the OIC teams and our partners, we will continue to improve the customer experience while further strengthening the company. ”
Learn more about OIC at www.tameen.ae
OIC Press Release SP Rating Reaffirmed at A-.pdf
Jean-Louis Laurent Josi
OIC Logo with tagline
About Oman Insurance Company
Oman Insurance Company (P.S.C.) was established in 1975 and is one of the leading insurance providers in the Middle East. Oman Insurance Company has operations across Emirates in the UAE as well as in Oman, Qatar and a subsidiary in Turkey.
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 3.72 billion in 2017, OIC is rated ‘A Excellent’ by AM Best and ‘A- Stable Outlook’ by Standard & Poor’s.
Additional information about Oman Insurance Company can be found at www.tameen.ae
For more information please contact:
Julien Audrerie
Head of Marketing
Oman Insurance Company
Tel: +971 4 233 7539
Email: media@tameen.ae
Cecelia Almeida
Senior Marketing & Communications Manager
Oman Insurance Company
Tel: +971 4 233 7970
Email: media@tameen.ae
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