Union Insurance Company
AADX:UNION1.32
AED
0.00
(0.00%)
ISIN
AEU000501012
Return %
Stock
S&P 500
1Y
24.76
14.20
3Y
57.03
81.12
5Y
40.44
68.34
Capital Structure
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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- CEO
- Ramez Abu Zaid
- Sector
- Finance
- Industry
- Multi-line insurance
- Address
- Dubai United Arab Emirates
- IPO Date
- Apr 11, 2004
- Website
- unioninsurance.ae
- Similar Companies
- Business
- Union Insurance Company P.J.S.C. is a United Arab Emirates-based multi-line insurance provider that underwrites a comprehensive suite of general, life, and health insurance solutions for individual, commercial, and institutional clients. Established in 1998 and headquartered in Dubai, United Arab Emirates, with corporate registration in Ajman and branches across Abu Dhabi, Dubai, Sharjah, Ajman, and Ras Al Khaimah, the company is publicly traded on the Abu Dhabi Securities Exchange under the ticker symbol UNION. Union Insurance Company operates primarily through two core business divisions: General Insurance and Life & Health Insurance. In its General Insurance division, the company provides an extensive array of commercial and personal lines, including: motor insurance, comprising comprehensive motor vehicle coverage, third-party liability, and commercial fleet management solutions; property insurance, comprising commercial property all risks, fire and allied perils, business interruption, and residential building and contents coverage; marine and aviation insurance, comprising marine cargo, marine hull and machinery, freight forwarder liability, and aviation hull and liability coverage; engineering and construction insurance, comprising contractor all risks, erection all risks, plant and machinery breakdown, and electronic equipment protection; liability and financial lines, comprising public liability, product liability, commercial general liability, professional indemnity, directors and officers liability, cyber liability, and workmen compensation and employer liability; and specialty insurance, comprising trade credit, fidelity guarantee, money insurance, personal accident, and travel insurance. In its Life & Health division, the company offers: group medical insurance schemes for small and medium enterprises and large multinational corporations; individual health insurance plans; corporate group life, accidental death, and disability benefits; individual term life assurance; unit-linked investment plans; critical illness covers; and structured savings solutions for retirement and education planning. In recent strategic and operational developments, Union Insurance Company has advanced its digital transformation agenda by deploying automated, artificial intelligence-driven claims processing platforms and enhanced digital self-service portals for policy issuance across its retail motor and health segments. The company has broadened its distribution reach through new strategic bancassurance agreements, direct digital partnerships, and broker tie-ups across the United Arab Emirates, specifically expanding its corporate healthcare networks in anticipation of widened mandatory health insurance mandates in the Northern Emirates. Furthermore, Union Insurance Company has reinforced its underwriting governance and actuarial frameworks following the full implementation of IFRS 17 accounting standards, while actively optimizing its capital structure, balance sheet risk reserves, and reinsurer panel in alignment with Central Bank of the UAE regulatory directives.