Al Fujairah National Insurance Co Psc

What Al Fujairah National Insurance Co Psc does

Al Fujairah National Insurance Company Psc (AFNIC) is a UAE Public Shareholding Company and diversified Property & Casualty insurer founded in 1976 and headquartered in Fujairah, with the Government of Fujairah holding over 80% of shares and the company listed on the Abu Dhabi Stock Exchange (ticker: AFNIC) since 2007. AFNIC writes the full spectrum of P&C lines for both individuals and corporates — Motor, Medical, Marine, Aviation, Property, Fire, Liability, Workmen's Compensation, Construction & Engineering, Financial Lines, Personal Accident, Travel, and Home — supported by a panel of reinsurance partners and third-party administrators (Nextcare, Mednet, Nas) for medical claims processing. Its reported paid-up capital is AED 133 Million with total assets exceeding AED 712 Million, and it operates 25+ outlets across Fujairah, Dubai, Abu Dhabi, Sharjah, Dibba, and Khorfakkan.

AFNIC's technology stack centers on a Beyontec-based insurance suite for policy administration and customer portal, an online payment gateway supporting motor, non-motor, and FloodGuard premiums, and iOS/Android mobile applications for policy management and claims access. Distribution is multi-channel: the branch network, digital self-serve portals and mobile app, first-of-its-kind insurance ATMs at Dubai petrol stations, and partner service centers at Tasjeel, Shamil, Wasel, and Tamam vehicle-testing outlets. The company maintains 24/7 customer support through a toll-free 800-AFNIC line and has data-privacy architecture aligned to UAE PDPL and ADHICS V2 standards.

The revenue model is premium-driven across subscription/recurring annual billing, with risk-based quote pricing for most lines and disclosed pricing only for personal accident (AED 190-770 + 5% VAT tiers) and Homeowner's Package (marketed from 'ONE Dirham per day'). Customer segments are bifurcated horizontally between individual UAE residents/nationals and UAE corporate employers, with employer-mandated group medical coverage (DHA, HAAD/DOH compliant) representing a regulated growth wedge. Distribution follows both a sales-led model through branches and a direct-to-consumer digital model through website and mobile channels, with no AI/ML capabilities disclosed in the dataset.

Name

Al Fujairah National Insurance Co Psc

Legal name

Al Fujairah National Insurance Company Psc

Website

https://afnic.ae

Company type

Public

Founded year

1976

Operating status

Operating

Headcount range

101–250 employees

Short description

Al Fujairah National Insurance Co Psc (AFNIC) is a UAE government-majority-owned, ADX-listed P&C insurer writing motor, medical, marine, aviation, property, liability, and engineering lines for individuals and corporates across 25+ UAE branches under Fujairah headquarters.

Ownership category

akta.pro rank

Product category

Property and Casualty Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Health and Medical Insurance Carriers (524114), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

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

akta.pro primary industry

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

akta.pro secondary industries

Commercial Auto & Fleet Insurance (FSAJAMAB), Professional Umbrella / Excess (E&O/D&O Wrap) (FSAJANAH)

Keywords

• Property casualty insurance
• Motor insurance
• Medical insurance
• Marine aviation insurance
• Group medical insurance

Headquarters

HQ city

Fujairah

HQ country

United Arab Emirates

HQ region

Middle East

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums: AFNIC generates revenue through collecting insurance premiums across multiple lines of business including motor, medical, property, marine, aviation, and liability insurance. Premiums are collected upfront for policy periods and constitute the primary revenue stream.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels9 records

Core offering

AFNIC is a UAE-licensed Property and Casualty insurer selling a full portfolio of insurance products to individuals and corporates. The Individual Insurance line includes Motor, Home, Travel, Personal Accident, Marine, Medical, and Liability coverages plus the FloodGuard add-on. The Corporate Insurance line includes Motor Fleet, Vessel, Aviation, Group Medical & Life, Property & Casualty, Fire, Workmen's Compensation, Engineering, Financial Lines, and tailored Insurance Packages, supported by TPAs (Nextcare, Mednet, Nas) and a strong reinsurance panel.

Product overview

Al Fujairah National Insurance Company (AFNIC) operates as a diversified insurance provider offering a comprehensive portfolio of insurance products organized into two main categories: Individual Insurance and Corporate Insurance. The individual product line includes Motor Insurance, Travel Insurance, Marine Insurance, Medical Insurance, World Wide Personal Accident Insurance, Home Insurance (Homeowner's Package and Tenants' Compensation), Liability Insurance, and the specialized FloodGuard add-on coverage. The corporate portfolio encompasses Motor Fleet Insurance, Vessel Insurance, Aviation Insurance, Accident & Health Insurance, Medical & Life Insurance, Property & Casualty Insurance, Fire Insurance, Workmen's Compensation Insurance, Construction & Engineering Insurance, Financial Lines Insurance, Liability Insurance, and Insurance Packages. AFNIC also supports its offerings with Third Party Administrators (Nextcare, Mednet, Nas) for medical claims processing and maintains online payment and customer portal systems. The company operates more than 25 outlets across the UAE and provides mobile application access for customer service.

Differentiator

Problem solved

Functional benefit

Products and services

• Motor Insurance Comprehensive automobile insurance covering private cars, motorcycles, and other vehicles with protection against accidental damages, theft, and third-party liabilities; sold to individual UAE consumers.
• Travel Insurance Package insurance providing protection to travellers against travel-related risks including accidental death, disabilities, repatriation expenses, emergency medical expenses, loss of checked-in baggage, and third-party liability; aimed at individual UAE consumers.
• Marine Insurance Insurance covering marine cargo and hull of vessels including protection against perils of the sea, fire, explosion, piracy, and accidents during loading, discharging or shifting cargo; sold to individual UAE consumers.
• Medical Insurance (Individual) Family Medical Insurance and Visa Medical Insurance covering medical expenses including hospitalization, in-patient and out-patient treatment, surgeries, doctor consultations, and maternity benefits; sold to UAE families and visa applicants.
• World Wide Personal Accident Insurance Global personal accident insurance providing 24-hour worldwide coverage for death due to accident, permanent total disability, permanent partial disability, and daily cash benefit for accident medical treatment; for UAE nationals and residents aged 21-65.
• Home Insurance Homeowner's Package and Tenants' Compensation Insurance covering residential buildings, contents, personal jewelry/valuables against Fire, Burglary, Lightning, Explosion, storm, tempest, flood, Riot, Strike, with automatic personal liability coverage; for UAE homeowners and tenants.
• Liability Insurance (Individual) Individual liability insurance protecting against potential lawsuits and liabilities for personal coverage scenarios; aimed at UAE individual consumers.
• AFNIC FloodGuard Insurance Specialized stand-alone coverage designed to protect vehicles insured under third-party liability policies against flood damage, providing additional protection beyond standard third-party insurance; sold to UAE individual vehicle owners.
• Motor Fleet Insurance Comprehensive and Third Party motor fleet insurance for corporate vehicles with options for agency repair and non-agency repair coverage; sold to UAE corporate fleet operators.
• Vessel Insurance Marine insurance solutions covering Marine Cargo Insurance, Marine Hull Insurance, and Yacht Insurance for vessels and cargo protection; sold to UAE corporate customers.
• Aviation Insurance Specialized aviation insurance covering Aviation Hull + Aircraft Insurance, Aviation Personal Accident Insurance, and Airport Operators' Liability Insurance; aimed at UAE aviation operators and airport authorities.
• Accident & Health Insurance Corporate accident and health insurance with Personal Accident coverage including accidental death, permanent total disability, permanent partial disability, temporary total disability, and medical expenses; sold to UAE corporate employers.
• Group Medical & Life Insurance Corporate Group Medical Insurance and Group Life Insurance providing death due to any cause coverage, accidental death benefits, disability coverage, and customizable health plans with DHA, HAAD/DOH compliance; for UAE corporate employers.
• Property & Casualty Insurance (Corporate) Corporate property insurance covering Jewelers Block Insurance, Money Insurance, and Plate Glass Insurance; for UAE corporate customers.
• Fire Insurance Corporate fire insurance providing Business Interruption, Fire Insurance, and Property All Risks coverage; sold to UAE businesses.
• Workmen's Compensation Insurance Workmen's compensation insurance covering employer liability for employee bodily injuries and fatal accidents during employment as per UAE Federal Labour Law No. 33 of 2021; mandatory cover for UAE employers.
• Construction & Engineering Insurance Engineering and projects insurance covering Contractors All Risks Insurance, Contractors Plant-Machinery Insurance, Electronic Equipment Insurance, Erection All Risks Insurance, Machinery All Risks Insurance, and Machinery Breakdown Insurance; sold to UAE contractors and engineering firms.
• Financial Lines Insurance Fidelity Guarantee Insurance indemnifying business owners against financial losses due to misappropriation or embezzlement by employees; sold to UAE corporate customers.
• Liability Insurance (Corporate) Comprehensive corporate liability insurance including Medical Malpractice Insurance, Professional Indemnity Insurance, and Public Liability Insurance; sold to UAE corporate customers.
• Insurance Packages Customized corporate insurance packages combining multiple coverage types for comprehensive business protection; sold to UAE corporate customers.

Quantifiable outcome

• Over 45 years of insurance industry experience serving UAE market
• +3 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature5 records

Partnerships

Four partnerships are on record, tiered core.

• NextcarecoreOthersThird Party Administrator (TPA) partner providing claims processing and provider network services for health insurance products. One of the top TPAs supporting AFNIC's medical insurance offerings.
• MednetcoreOthersThird Party Administrator (TPA) partner providing claims processing and provider network services for health insurance products. One of the top TPAs supporting AFNIC's medical insurance offerings.
• NascoreOthersThird Party Administrator (TPA) partner providing claims processing and provider network services for health insurance products. One of the top TPAs supporting AFNIC's medical insurance offerings.
• Reinsurance PanelcoreOthersAFNIC is supported by a panel of strong Reinsurance securities providing financial strength and risk capacity for writing all classes of Property and Casualty insurances.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Emirates Insurance Company: UAE-listed long-established P&C and group life/medical carrier; overlaps with AFNIC in motor, marine, energy, construction and group benefits underwriting for UAE corporates.
• Dubai Insurance Company: UAE-headquartered full-line P&C insurer with comparable multi-line retail and corporate product set (motor, medical, marine, property), serving identical customer segments.
• Abu Dhabi National Insurance Company (ADNIC): UAE-domiciled listed composite P&C insurer offering motor, medical, marine, property and group life cover to individuals and corporates - identical full-service model in the same regulatory jurisdiction.
• Al Ain Ahlia Insurance Company: UAE-listed composite insurer offering motor, medical, life and general insurance to individuals and corporates - directly comparable regional mid-sized competitor to AFNIC.
• Oman Insurance Company: One of the larger UAE composite P&C carriers; writes motor, medical, engineering, marine and aviation lines to the same UAE individual and corporate customer segments as AFNIC.
• Orient Insurance PSC: Major UAE-listed diversified P&C insurer competing head-to-head with AFNIC in motor fleet, property, marine, and group medical underwritten for UAE corporates and individuals.

Emerging players

• National Health Insurance Company - Daman: UAE's largest dedicated health insurer; comparable on AFNIC's group medical and accident & health line, though Daman is health-specialized while AFNIC is multi-line.

Regional players

• ABU DHABI NATIONAL TAKAFUL: UAE takaful carrier offering family and medical takaful alongside general P&C; overlaps with AFNIC's retail and group medical/accident lines through an alternative risk-transfer model.
• Salama (Islamic Arab Insurance Company): UAE/GCC takaful operator offering family and general takaful including motor, medical, property; competing with AFNIC primarily in the UAE and broader Gulf in Shari'ah-compliant retail lines.

Broad incumbents

• AXA Insurance Gulf: Global insurance brand operating broad P&C and health offerings across UAE/GCC; competes with AFNIC on retail motor, home, group medical but as part of a much larger international portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/AFNICUAE
• YouTubeyoutube.com/channel/UCDPS4HNSUScDrGtjGFG--mg
• Facebookfacebook.com/afnic.ae
• LinkedInlinkedin.com/company/1746202
• Instagraminstagram.com/afnic.ae

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Al Fujairah National Insurance Co Psc