Sukoon Insurance continues to lead in innovation and customer satisfaction

Sukoon Insurance, formerly Oman Insurance Company, marks its 49th year as a cornerstone of the nation's financial security and peace of mind.

With almost five decades as the UAE's leading insurer, people trust Sukoon to protect what they value most - be it their families, health or wealth. From innovative online solutions to quick and efficient claim payments, Sukoon puts its customers at the heart of everything. Its rock-solid financials, award-winning services and never-ending commitment to excellence are some reasons Sukoon continues to be the insurer of choice for more than 830,000 customers.

More than just insurance

Sukoon's offerings go beyond conventional insurance. It entails:

Comprehensive coverage

The company offers an assortment of insurance solutions – from medical, motor and travel to trade credit, commercial and more – to individuals, businesses, and large corporates, each tailored to their unique needs.

Sharia-compliant solutions

Following the acquisition of Sukoon Takaful, formerly ASCANA, the company now offers a diverse range of takaful products catering to a variety of protection needs.

Go saver EOSG scheme

Through Oman Insurance Workplace Savings Solutions (OIWSS), its subsidiary, Sukoon provides companies with a secure platform for managing End-of-Service Gratuity (ESOG) savings.

Sukoon’s syndicate

GCC’s first Lloyd’s Syndicate, Oman Insurance Management Services Limited (OIMSL) – Sukoon’s fully owned subsidiary and a service company of Syndicate 2880 – provides reinsurance, property, power, engineering, marine hull, and marine cargo coverage to a global clientele.

Resilience and growth in 2023

Amidst global economic challenges, Sukoon's performance in 2023 was exceptional, much like the years before, boasting a record net profit of Dh257.4 million – the highest in a decade and a strong solvency margin of 272 per cent – a reflection of Sukoon’s robust risk management.

Insurance revenue growth

A 20 per cent year-on-year increase to Dh4.6 billion, solidifying Sukoon's position as the region's second largest publicly listed composite insurer.

This success is attributed to prudent underwriting, cost control, and a customer-centric approach which never fails to deliver.

Digital transformation and unwavering support

Sukoon's commitment to customer satisfaction is evident in its digital transformation, with 100 per cent IT service availability for nine months in 2023. This ensures uninterrupted service delivery through its various channels.

That’s not all. When the UAE was hit by floods in April, Sukoon's response was extremely agile, showcasing its dedication to protecting its customers and being there for them in their hour of need.

Customer-centricity at the core

Sukoon's customer-first philosophy drives its pursuit of innovative, personalised and value-driven services. This commitment is reflected in the 29 awards it received in 2023 and 14 in the first five months of 2024, including accolades for digital transformation, customer satisfaction, and insurer of the year.

Sukoon: Your partner for peace of mind

As the UAE continues to evolve, Sukoon remains a steadfast partner, offering unmatched expertise, innovation, and support that never leaves your side.

Visit www.sukoon.com to experience the peace of mind that comes with knowing you’re covered by the best.