Sukoon Insurance

What Sukoon Insurance does

Sukoon Insurance PJSC, formerly Oman Insurance Company and rebranded in November 2025 to mark its 50th anniversary, is a UAE-based public joint stock company listed on the Abu Dhabi Securities Exchange under the ticker SUKOON and regulated by the UAE Central Bank under license No. 9 (issued 24/12/1984). The company provides a comprehensive multi-line insurance portfolio covering motor, health, life, travel, home, personal accident, investment-savings, war risk, jetski, medical malpractice, trade credit, marine, energy, engineering, aviation, fire/property, and fleet insurance. It serves individual consumers, SMEs, and large enterprises across the UAE and Oman, with additional reach into Qatar, Kuwait, Iraq, Jordan, Bahrain, Egypt, and Saudi Arabia through the Regional Insurance Medical Solution (RIMS) partner network. As of FY2024, Sukoon reported AED 5.41 billion in revenue and AED 291.5 million in profit, served 1.6 million insured members, and processed AED 2 billion in annual claims.

Name

Sukoon Insurance

Legal name

Sukoon Insurance PJSC

Website

https://sukoon.com

Company type

Public

Founded year

1974

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Sukoon Insurance PJSC is a UAE- and Oman-based publicly listed multi-line insurer (ADX: SUKOON) serving 1.6 million retail, SME, and corporate members across motor, health, life, travel, commercial, and specialty insurance.

Ownership category

akta.pro rank

Product category

Multi-line Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Property and Casualty Insurance Carriers (524126), Direct Life, Health, and Medical Insurance Carriers (52411), Direct Life Insurance Carriers (524113)

SIC

Insurance Carriers, Nec (6399), Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321), Life Insurance (6311)

akta.pro primary industry

Mid-Market Commercial Package (Package Policies) (FSAJAFAB)

akta.pro secondary industries

Large Commercial Package (National Accounts) (FSAJAFAC), Commercial Package / Business Owners Policies (BOP) (FSAJAMAG), Group Universal Life (GUL) (FSAIADAC)

Keywords

• Multi-line insurance
• Health insurance
• Motor insurance
• Commercial insurance
• Life insurance

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Insurance Premiums - Motor: Revenue from motor insurance policies including comprehensive, third-party, and war risk coverage for individuals and fleet operators. Premiums are collected upfront annually or as per policy terms.
2. Insurance Premiums - Health: Revenue from group and individual health insurance policies. Includes employer-sponsored group plans, government-mandated coverage, and supplementary health products.
3. Insurance Premiums - Life: Revenue from life insurance products including term life, whole life, unit-linked plans, and credit life insurance for individuals and businesses.
4. Insurance Premiums - Commercial: Revenue from commercial insurance products covering aviation, marine, energy, fire, engineering, and other business insurance lines.
5. Insurance Premiums - Travel and Other: Revenue from travel insurance, home insurance, personal accident, and specialty insurance products including jetski and medical malpractice coverage.
6. Trade Credit Insurance: Revenue from trade credit insurance products, offered in partnership with Coface, protecting businesses against payment defaults on receivables.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels8 records

Core offering

Sukoon Insurance PJSC is a UAE-based multi-line insurer underwriting personal lines (motor, travel, health, life, home, personal accident, investment-linked savings, jetski, medical malpractice) and commercial lines (group health, fleet, marine, energy, aviation, engineering, fire/property, trade credit, group and credit life). It distributes policies through its own website, the MySukoon mobile app, branch offices, broker networks, and a healthcare provider portal, and operates Syndicate 2880 at Lloyd's of London for specialty capacity.

Product overview

Sukoon Insurance is a comprehensive insurance company operating in the UAE and Oman, offering a broad portfolio of personal and business insurance products. The company provides personal lines including Motor, Travel, Health, Life, Home, Personal Accident, Purple investment-savings, War Cover, Jetski, and Medical Malpractice insurance. For business clients, Sukoon offers Motor Fleet, Group Health (with Shield Saver, Enhanced Plus, DHA Essential, Abu Dhabi Employee Protect, Thiqa Top Up, and Regional Insurance Medical Solution), Group Life, Credit Life, Commercial (Marine, Energy, Fire/Property, Aviation, Engineering), and Trade Credit insurance. The company also operates a Privileged Club for premium customers and provides a mySukoon mobile app for policy management. Sukoon serves over 1.6 million insured members with a network of 3,500+ healthcare facilities across the UAE.

Differentiator

Problem solved

Functional benefit

Brands

• MySukoon: Mobile application for managing health and motor insurance policies, available for Apple and Android phones.
• LivFit
• Purple
• Privilege Club
• HealthPlus
• War Cover

Products and services

• Motor Insurance Motor insurance providing comprehensive and third-party coverage with 24/7 roadside assistance and personal accident cover for individual drivers in the UAE.
• Travel Insurance Travel insurance with Travel Easy outbound and Visitor Health inbound plans providing Schengen-compliant comprehensive coverage up to USD 1 million for travelers.
• Health Insurance Individual health insurance with HealthPlus and DHA Plus plans offering quality protection and access to 3,500+ network facilities across the UAE.
• Life Insurance Life insurance offering term, whole of life, and unit-linked (ULIP) products that combine protection with savings solutions for individuals.
• Home Insurance Home Umbrella coverage including tenant's liability up to AED 1 million and 24/7 emergency repair services for homeowners and tenants.
• Personal Accident Insurance High-benefit personal accident cover with Life Easy and Lifestyle Protect plans covering accidental death and chronic illness for individuals.
• Purple Investment and Savings Plan Investment and savings plan including Purple (Simple Savings) that invests in global funds for long-term financial flexibility.
• War Risk Coverage War risk coverage for vehicles, cargo, travel, and operations protecting against war-related losses for retail consumers and businesses.
• Jetski Insurance Insurance for jetskis and watercraft with multiple plans covering drivers and passengers.
• Medical Malpractice Insurance Professional liability insurance for medical practitioners covering malpractice claims.
• Shield Saver and Shield Saver Plus (Group Health) Affordable SME group health plans built with Aster DM Healthcare providing access to Aster clinics, hospitals, and pharmacies and 0% co-pay virtual GP care.
• Enhanced Plus Group Health Plan Affordable group health insurance for groups of 50-5,000 members offering pharmacy limits of AED 2,000-7,500, free life rider cover up to AED 50,000, and outpatient co-pay options of 10-20%.
• DHA Essential Benefits Plan DHA-compliant health insurance meeting mandatory Dubai requirements for employees earning AED 4,000 or less.
• Abu Dhabi Employee Protect Affordable health insurance policy compliant with Abu Dhabi government requirements for employees earning AED 5,000 or less.
• Thiqa Top Up Top-up health insurance that enhances the government-backed Thiqa programme for UAE nationals in Abu Dhabi with additional benefits.
• Regional Insurance Medical Solution (RIMS) Unified multi-country health insurance framework for employers with employees across the Middle East, providing locally compliant coverage and cashless access to 13,000+ providers through regional insurer partners.
• Group Life Insurance Plans Customizable group life insurance plans covering death and personal accidents with optional dependent extensions for organizations of all sizes.
• Credit Life Insurance Credit life insurance covering outstanding auto loans, mortgages, personal loans, and credit card balances in case of death or disability.
• Motor Fleet Insurance Comprehensive fleet motor insurance for UAE businesses covering 41,000+ vehicles across 520+ corporate fleet clients and supporting nearly every vehicle type.
• Trade Credit Insurance Trade credit insurance offered with Coface that protects businesses against buyer payment defaults on accounts receivable, with access to a 65-million-company credit monitoring database.
• Marine Insurance Marine cargo and hull insurance protecting goods in transit by air, sea, and road and vessels against physical loss or damage.
• Energy Insurance Specialized insurance for oil and gas operations across upstream, midstream, downstream, and power generation sectors.
• Engineering Insurance Engineering coverage including Contractor's All Risk, Erection All Risk, Machinery Breakdown, Boiler and Pressure Vessel, and Electronic Equipment insurance.
• Fire and Property Insurance Property and asset protection against fire, explosions, theft, storms, floods, earthquakes, and accidental damage under Property All Risks coverage.
• Aviation Insurance Comprehensive aviation cover for airline and general aviation including hull, liability, war risks, and passenger/crew personal accident, underwritten with Lloyd's and international reinsurers.

Quantifiable outcome

• 87% customer satisfaction rate
• +5 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered strategic and core.

• ChubbstrategicStrategic or Co-development Partner · 5 September 2024Acquisition of Chubb's UAE life insurance portfolio including unit-linked and life insurance policies. Deal approved by relevant financial authorities. Aligns with Sukoon's strategy to grow its life insurance business.
• Arabian Scandinavian Insurance Company (ASCANA)strategicStrategic or Co-development Partner · 20 December 2022Acquisition target for majority stake. Transaction subject to regulatory approvals. Aims to expand Sukoon's presence in UAE and GCC by entering the Takaful (Islamic insurance) market and leveraging ASCANA's expertise.
• CofacecoreStrategic or Co-development PartnerStrategic partnership for Trade Credit Insurance products. Coface provides credit insurance expertise, buyer creditworthiness database (65 million monitored companies), and risk assessment capabilities. Sukoon offers the trade credit product under this partnership to protect businesses against payment defaults.
• AG CarscoreTechnology or IntegrationExclusive partnership for motor vehicle repairs and car care services. AG Cars provides quality repair network for Sukoon motor insurance customers with exclusive discounts and complimentary services including 12 complimentary car washes for TPL policyholders (discontinued effective May 1).
• Assist AmericacoreTechnology or IntegrationGlobal emergency assistance program for health insurance members traveling more than 120km from home or abroad. Provides 24/7 multilingual support, emergency medical evacuation, repatriation, hospital admission assistance, and other emergency services with no cost limits.
• Aster DM HealthcarecoreTechnology or IntegrationPartnership for Shield Saver and Shield Saver Plus health insurance products. Provides access to Aster group of clinics, hospitals, and pharmacies across UAE. Features include 0% co-pay for virtual GP care through MyAster app, pharmacy home delivery, and exclusive discounts on non-covered procedures.
• Regional Insurance Partners (Qatar, Kuwait, Iraq, Jordan, Bahrain, Egypt, Saudi Arabia)coreChannel Partner/ Reseller/ DistributorLocal insurer partnerships across Middle East for Regional Insurance Medical Solution (RIMS): Alkhaleej Takaful (Qatar), KIB Takaful (Kuwait), Asia Insurance (Iraq), Delta Insurance (Jordan), SNIC Insurance (Bahrain), Wafa Life Insurance (Egypt), Walaa Cooperative Insurance (Saudi Arabia). Provides locally compliant health coverage across the region.
• Lloyd's and International ReinsurersstrategicTechnology or IntegrationAviation insurance underwritten in collaboration with Lloyd's and supported by leading international reinsurers for comprehensive global coverage and risk capacity.

Scale indicators14 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Abu Dhabi National Insurance Company (ADNIC): UAE-listed multi-line insurance carrier offering personal and commercial P&C, life, health and motor across the UAE. Highly comparable as a domestic incumbent competing head-to-head with Sukoon in group health, motor and corporate lines.
• Orient Insurance: UAE-headquartered composite insurer offering personal accident, motor, marine, aviation, energy and engineering lines. Direct competitor to Sukoon's commercial and specialty book, especially in energy and engineering where both underwrite large GCC accounts.
• National Health Insurance Company – Daman: The UAE's largest health insurer, owned by Abu Dhabi government. Direct peer to Sukoon in the group health and DHA Essential Benefits segment where Sukoon is mandated to compete for SME and large employer accounts.
• Emirates Insurance Company: Long-standing UAE-listed composite insurer writing personal and commercial lines including motor, marine and property. Overlaps directly with Sukoon in mid-market commercial and personal lines inside the UAE.
• Bupa Arabia: Leading GCC health insurer with strong employer-group focus in Saudi Arabia and UAE cross-border coverage. Comparable to Sukoon's group health, RIMS regional network and DHA-aligned product suite.
• Salama Cooperative Insurance (Islamic Arab Insurance): UAE-licensed Takaful and cooperative insurer active in personal, family and commercial lines. Direct comparator to Sukoon's pending ASCANA Takaful push and a natural competitor in sharia-compliant products in the UAE.
• Dubai Insurance (Union Insurance/DIC): UAE-domiciled composite insurer offering personal, commercial and group medical lines. Comparable scale and product mix to Sukoon and competes for similar corporate and SME customers.

Broad incumbents

• AXA Gulf / AXA Insurance (Gulf region): Global P&C and health insurer with established UAE/Gulf operations across motor, health and commercial. Larger, broader portfolio; competes with Sukoon on group health and large commercial accounts.
• Chubb (UAE operations): Global specialty P&C and life insurer with UAE life and P&C presence; Sukoon's 2024 acquisition of Chubb's UAE life book directly maps the two. Comparable on life product engineering, group benefits and underwriting expertise.

Regional players

• Qatar Insurance Company: Largest GCC insurer by assets with strong aviation, marine and energy lines and a Lloyd's platform. Comparable to Sukoon on specialty commercial underwriting, though primarily anchored in Qatar rather than UAE.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/sukooninsuranceme
• LinkedInlinkedin.com/company/sukooninsurance
• Instagraminstagram.com/sukooninsurance
• TikToktiktok.com/@sukooninsurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sukoon Insurance