Union Insurance Company P.J.S.C. Overview
Pro stress-test →Union Insurance Company P.J.S.C. underwrites insurance products in the United Arab Emirates, Gulf Cooperation Council, and internationally, operating in two segments: General Insurance and Life Assurance. The company has been protecting UAE residents and businesses for more than 25 years, serving individuals, small, medium, and large enterprises, and government entities.
Strategic Profile
Pro stress-test →The General Insurance segment offers property, fire, marine, motor, medical, general accident, and miscellaneous risk insurance products, while the Life Assurance segment provides short and long term life insurance products. The company is regulated by the UAE Central Bank and is publicly traded on ADX under "UNION," with an "A- (Excellent)" financial-strength rating from AM Best (2024).
Competitive Landscape
Pro stress-test →Competitors include Sukoon Insurance, Abu Dhabi National Insurance Company, Cholamandalam MS General Insurance Company, Royal Sundaram General Insurance Company, and SALAMA - Islamic Arab Insurance Company. Union operates as a mid-sized multi-line insurer with pan-GCC presence, competing primarily on retail health, motor, and commercial lines across the UAE.
Industry Context
Union Insurance Company P.J.S.C. operates in Multi-line Insurance / General & Life Insurance.
Key facts
Founded: 1998 · Headquarters: Dubai, UAE · Employees: 244 · Revenue: $75.2M · Market cap: $42.6M