UAE: Oman Insurance changes name to Sukoon; will it affect your policy?

Customers and partners will start seeing documents with the new legal name

by

Waheed Abbas

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Published: Thu 11 Jan 2024, 10:33 AM

Last updated: Thu 11 Jan 2024, 3:32 PM

Oman Insurance Company on Thursday said it changed its legal name to Sukoon Insurance following completion of all regulatory requirements.

According to a statement from the company, the legal name change will not affect existing policies or coverage provided. Customers and partners will simply start seeing documents issued with the new legal name mentioned.

“Sukoon not only represents who we are today but also sets the stage for our ambitious vision for the future,” said Jean-Louis Laurent Josi, CEO of Sukoon.

“This change, serving as the final milestone of our rebranding efforts, underscores our vision to lead the insurance industry while keeping peace of mind and unrivalled customer service at the heart of everything we do. We are now more confident than ever to reinforce our position as a reference in the region for customer excellence," he further added.

Under the new Trade License stating the new legal name, the company will be liaising with the Dubai Financial Market (DFM) to change its name from ‘Oman Insurance Company PSC’ to ‘Sukoon Insurance PJSC’ on the DFM website.

Established in 1975, Sukoon Insurance is one of the leading insurance providers in the UAE, offering solutions to more than 800,000 individuals and commercial clients in healthcare, motor, life and general (property, energy, engineering, aviation, marine and liability) insurance. Sukoon has operations across all Emirates in the UAE as well as in Oman.

Sukoon recorded gross written premiums (GWP) of Dh4.39 billion in 2022. It is A rated by Standard & Poor's and A2 by Moody's.

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