Sukoon Insurance, formerly known as Oman Insurance Company, is celebrating its 49th year of providing financial security and peace of mind to customers in the UAE. With nearly five decades as the country’s leading insurer, Sukoon is trusted by over 830,000 customers to protect their families, health, and wealth. The company prioritizes its customers by offering innovative online solutions and quick claim payments, making it a top choice for individuals and businesses alike. Sukoon’s rock-solid financials, award-winning services, and commitment to excellence are just a few reasons why it continues to be a preferred insurance provider.
Beyond traditional insurance offerings, Sukoon provides comprehensive coverage tailored to the unique needs of its customers. From medical, motor, and travel insurance to trade credit and commercial coverage, Sukoon ensures individuals, businesses, and large corporates are protected. Additionally, the company offers Sharia-compliant solutions through Sukoon Takaful, formerly ASCANA, catering to a variety of protection needs. Sukoon also offers companies a secure platform for managing End-of-Service Gratuity savings through Oman Insurance Workplace Savings Solutions, its subsidiary.
In line with its commitment to resilience and growth, Sukoon’s performance in 2023 was outstanding despite global economic challenges. The company achieved a record net profit of Dh257.4 million, the highest in a decade, and maintained a strong solvency margin of 272 percent. With a 20 percent year-on-year increase in insurance revenue to Dh4.6 billion, Sukoon solidified its position as the region’s second-largest publicly listed composite insurer. This success can be attributed to prudent underwriting, cost control, and a customer-centric approach that prioritizes delivering value.
Sukoon’s unwavering support and commitment to customer satisfaction are evident in its digital transformation efforts. The company maintained 100 percent IT service availability for nine months in 2023, ensuring uninterrupted service delivery through various channels. Additionally, when recent floods struck the UAE, Sukoon’s response was agile, showcasing its dedication to protecting customers and being there for them in times of need. Sukoon’s ‘customer-first’ philosophy is at the core of its business, driving the pursuit of innovative, personalized, and value-driven services for its customers.
In recognition of its dedication to customer satisfaction and excellence, Sukoon received 29 awards in 2023 and 14 awards in the first five months of 2024. These accolades include recognition for digital transformation, customer satisfaction, and being named insurer of the year. As the UAE continues to evolve, Sukoon remains a reliable partner, offering unmatched expertise, innovation, and support to ensure customers have peace of mind. To experience the protection and peace of mind that comes with being covered by the best, visit Sukoon’s website at www.sukoon.com.
