Our Story
About Us
One of the UAE’s pioneering insurers, Emirates Insurance Company (EIC) was established in Abu Dhabi in 1982. From its early beginnings, EIC has grown over four decades into a trusted national insurer, combining tradition with a forward-looking approach to deliver reliable protection and consistent service. Publicly listed on the Abu Dhabi Securities Exchange (ADX), EIC is recognised for its financial strength and underwriting discipline, supported by A- credit ratings from AM Best and S&P Global. With a presence across the UAE and an experienced professional team, EIC continues to serve clients and partners through disciplined risk management and responsive service delivery.
Our Vision
To be a leading national force in the insurance industry, combining professional resources and skills with customer focus to deliver profitable growth.
Our Mission
“ To operate our national company to International standards.”
- Sound underwriting skill: provide competitive products and ensure EIC’s superior profitability.
- Proactive sales approach: target most attractive client relationships.
- Performance culture and compensation of individual contribution: attract most talented staff.
- Need-driven product offering: closely align product development with client requirements.
- Uncompromising Risk Management Philosophy: Not only to underwriting decisions but also Investment management
Company Timeline
Since its establishment, Emirates Insurance Company has evolved into a leading national insurer, listed on the Abu Dhabi Securities Exchange and serving clients across the UAE and the wider region. From its early beginnings, EIC’s growth reflects a steady commitment to financial discipline, governance, and long-term stability.
1983
Establishment and Early Presence
Emirates Insurance Company commenced operations with the opening of its Head Office in Abu Dhabi and a branch in Al Ain, marking the foundation of its national footprint.
1984
Opens in Sila to serve customers visiting UAE from other countries. The Head Office is shifted from Hamdan St. to Electra St.
1987
The Company moves its Head Office from Electra Street to its current location in the in Tourist Club Area.
1988
The Dubai branch opens to expand Emirates Insurance Company across other Emirates.
1998
The Operating system becomes fully computerized.
2000
EIC is listed on the Abu Dhabi Securities Exchange when the market was first established in November, 2000.
2004
Emirates insurance Company becomes an ISO 9000 accredited company.
2006
Begins offering medical cover to all expatriates with Abu Dhabi Residences Visas living in the UAE. Share Capital is increased to Aed120m.
2007
Total assets of the Company exceed AED 2 billion for the first time.
2008
First S&P Rating acknowledges EIC's Financial Strength. EIC opens offices in Sharjah and Musaffah on its 25th Anniversary.
2010
EIC obtains an A- Rating from AM Best; Opens a new office in Business Bay and de-risks its Investment Portfolio; Share Capital increases to 135m.
2011
EIC Establishes itself in the Western Region, opening 5 satellite offices.
2012
EIC Intl. is launched in DIFC. EIC becomes an exclusive partner of Western Region Municipality; Serves Motor Insurance from TAMM.
2013
Crosses AED 700m in Gross Premiums; EIC is selected to participate in the “ABSHER INITIATIVE”.
2016
Share Capital is Increased to AED 150m. EIC Crosses AED 1bn in Gross Premiums Written.
2018
Achieve highest Technical Profit of AED 97.3m in the history of the Company.
2019
Awarded "Compliance Company of the Year" by the UAE Insurance Authority.
2020
Total Assets of the Company crosses AED 3 Billion for the first time.
2022
Appoints first female board member.
2023
One of only 4 UAE Insurance Companies to Implement IFRS 17 successfully and on time. EIC Celebrates its 40 Year Anniversary.
2025
EIC embarks on a Digital Transformation Program.
Board of Directors
Our Board of Directors consists of 8 Non-Executive members (2 of whom are independent).
Mr. Abdullah Al Mazrui
Chairman
Mr. Saoud Essa Al Mulla
Vice Chairman
Mr. Mohamed Fadhel Al Darmaki
Mr. Mubarak Abdulla Al Mazrouei
Mr. Khalid Khalifa Mohamed Obaid Al Mheiri
Mr. Samir Mikati
Sheikha Lubna Nasser Almoalla
Executive Committee
Our Executive team guides the EIC's vision and mission to ensure the realization of our objective to become the preferred insurer in the region!
Aart is a South African qualified Chartered Accountant. He joined EIC in January 2007.He holds a Bachelors and Honours Degree in Accounting (South Africa). He has also completed an Executive Development Program and a Diploma in Islamic Finance. His career in the financial services industry has spanned over a 26 year period and has focused on financial, technical and operational management. He served as director on several Boards of insurance companies in South Africa and was Chief Executive Officer of a private hospital in Oman for nearly 3 years. As Chief Financial Officer, he is responsible for the financial strategy of the company, sets and manages the investment strategy and operations of the company and responsible for Company Secretarial, Corporate Governance and Administration of the company. He is the Chairman of the Executive Risk Committee and attends all board meetings as well audit, human resources and remuneration committee meetings.
Aart Lehmkuhl Chief Financial Officer
Rob has more than 35 years’ experience within the insurance industry. After spending the early years of his career in various underwriting positions in the London Market he joined RSA Dubai in 2005 as Regional Property Director. In 2015, he was promoted to Head of Property, Construction and Engineering Global Specialty Lines at RSA London. Immediately prior to joining Emirates Insurance Company, he was Head of Commercial Underwriting at Towergate Underwriting Group London.
Rob Duchesne Chief Underwriting Officer
May has more than 20 years of expertise across both Lloyds and the Company Markets in three geographical locations being London, Singapore and Dubai. She holds a Joint Honours BSc in Mathematical Science with Economics & Finance and an MSc in Insurance & Risk Management. She is an Associate of the Institute of Risk Management UK (IRM) and a Chartered Insurer and an Associate member of the Chartered Insurance Institute UK (ACII). Prior to joining EIC, she was with Zurich Insurance Company as Head of Energy in Dubai and Global Head of Upstream for Zurich worldwide. She currently represents the Emirates Insurance Association on the global technical committee of IUMI.
May Hleileh Chief Underwriting Officer (Intl.)
Stefan has over 20 years of experience in the insurance industry, specializing in claims management, operations, and digital transformation. Before joining Emirates Insurance Company, he held senior leadership roles across leading insurers, including AXA, Zurich, and RSA. He has successfully led strategic transformation projects, enhancing claims efficiency, IT integration, and business operations across multiple markets.
Stefan Schrey Chief Operating Officer
Abhay Gupta has 24 years of experience in sales & distribution, out of which 20 years is across all facets of the insurance industry including 10 years in senior leadership functions at leading local and international insurance companies. Prior to joining EIC, he spent the early years of his career in various Distribution roles with Zurich and RSA. Over the past eight years with EIC, he has advanced through senior roles and is currently serving as the Chief Distribution Officer overseeing the company’s distribution strategies, managing sales teams, driving business growth through various channels, and ensuring alignment with the overall business goals.
Abhay Gupta Chief Distribution Officer
Corporate Objectives
Emirates Insurance strives to deliver the best-in-class customer service and attractive shareholders return. Emirates Insurance aspires to be the leading force in the insurance industry. Leadership combines professional skills, capital strength, and customer focus to generate economic profit growth.
Emirates Insurance is committed to providing sustainable growth for its shareholders, and therefore allocates capital and other resources by assessing each business opportunity in both risk adjusted and cost-adjusted terms. Profitable growth also requires disciplined management of the insurance cycle based on a combination of scale, diversification and sound underwriting principles. The focus on economic profit secures the quality of the EIC’s earnings and makes Emirates Insurance strong, dependable partner for clients.
In addition to its scale, EIC applies a wide range of tools to reduce investments volatility, including limiting downside exposure while capturing attractive risk-adjusted returns on assets. By addressing potential sources of volatility on both sides of balance sheet, Emirates Insurance aims to deliver sustainable earnings to shareholders.
The changing risk landscape and the fast paced expansion of the UAE economy creates opportunities for Emirates Insurance to extend its presence into new locations within UAE and markets and develop innovative products for existing markets. As a client-driven company, Emirates Insurance focuses both on deepening relationships with Existing customers as well as on attracting new ones. The skills and resources the Company intends to develop, such as risk models and asset management, have significant commercial value for clients, bringing additional opportunities for growth through cross-selling.
The Company’s long-term success depends critically on its on ability to attract and retain the best people. Client and shareholders benefit from the innovation and responsiveness of Emirates Insurance’s results-oriented approach, which applies capabilities through cross-functional teams. In order to achieve effective risk control and disciplined underwriting, Emirates Insurance has separated also responsibility for client service, underwriting, reserving, and reporting, allowing market-leading transparency and best in class service, as well as attractive, sustainable returns for shareholders.
EIC International was formed in 2012to enable EIC to underwrite a cross border book of business that complements our existing retail domestic business. Starting with offering facultative capacity to the Afro Asian energy and marine markets and eventually extending to other classes of non-marine reinsurance products.
Emirates Insurance’s dedicated focus enables the EIC to utilize its expertise to develop effective solutions for our clients. The customer service initiative is the primary driver for our delivering of best in class customer service.
Emirates Insurance’s Enterprise Risk Management shall facilitate the creation of sustainable competitive advantage, optimize the cost of managing risk and help management improve business performance. The Risk Appetite for both insurance and investments activities are monitored, adjusted and updated on a continuous basis.
Expand the current disaster recovery program to deal with any realistic disaster scenario which might place the business at risk.
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Sound Underwriting
Provide competitive products and ensure EIC's superior profitability.
-
Proactive Sales
Target most attractive client relationships.
-
Performance Culture
Compensation of individual contribution: attract most talented staff.
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Client-Centricity
Closely align product development with client requirements
-
Risk Management
Uncompromosing Risk Management Philosophy with underwriting decisions and Investment management
Core Values
01.
Engagement
Thorough understanding and responding to stakeholder’s needs.
02.
Integrity
Thorough uncompromising commitment to transparency and ethical principles.
03.
Excellence
Thorough expertise, efficiency and sound decision-making in all we do.
04.
Sustainability
Thorough balance in economic, societal and environmental development.
Strategic Pillars
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Growth Strategy
A clear course for sustained profitable growth and value creation for stake holders.
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Capital Strength
Unparalleled knowledge in assessing and mitigating risks.
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Performance Culture
A commitment to customer-first, efficient claims resolution.
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Client-Centricity
Actions consistently geared to the individual needs of our clients
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Expertise
The strength of our staff who develop the best possible solutions with their knowledge of the insurance markets and their capacity for innovation.
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Responsibility
A commitment to transparency, sustainability and an obligation to society as a whole.
Jason has more than 30 years experience within the insurance industry. After spending the early years of his career as a reinsurance broker, he joined the Renewal and Reconstruction team at Lloyd’s in 1995 and was later appointed the founding Managing Director of Lloyd’s Japan, Lloyd’s retail insurance business in Japan. Immediately prior to joining Emirates Insurance Company in May 2007, he was CEO of Hemayah Insurance, Toyota’s ALJ’s captive insurance business in Saudi Arabia.
Jason Light Chief Executive Officer