Al Dhafra Insurance Company P.S.C. stands as a Public Shareholding Company fully owned by U.A.E. nationals. Established in Abu Dhabi through Emiri Decree No. 8 of 1979 and registered under the provisions of The UAE Insurance Law (Federal Law No. (6) of 2007 enacted in February 2007).
The Company possesses an Authorized Capital of Dhs.100 million, a Paid-up Capital of Dhs.100 million, and Shareholders’ Equity amounting to Dhs.463 million as of 31/12/2021. With a staff of 176 employees, the company is dedicated to implementing best management practices to achieve comprehensive excellence. Moody’s Investors Service has granted the company a “Baa1 Stable Outlook” Insurance Financial Strength Rating (IFSR), while AM Best has rated it as “B++ Good Stable Outlook” for Financial Strength and “bbb+ Good Stable Outlook” for Issuer Credit Rating. Additionally, the company has earned the ISO 27001:2013 certificate, signifying a robust information security management system.
The Company exhibits sustained growth in production, with a total premium written of AED 314 Million in the year 2021.
Business Activities
Al Dhafra operates as a direct insurer in the U.A.E. market, undertaking both Life and Non-Life business. It holds recognition from the Government of Abu Dhabi for government insurance purposes. The primary classes of business underwritten by the Company include:
(1) Fire & General Accident;
(2) Contract Works and Contractor’s Plant & Equipment;
(3) Electronic Equipment & Machinery Breakdown;
(4) Workmen’s Compensation & Employers Liability;
(5) Public Liability, Medical Malpractice and other Professional Indemnity risks;
(6) Marine Cargo, Marine Hull & Pleasure Craft;
(7) Oil & Gas on and offshore operations;
(8) Aviation;
(9) Personal Accident, Medical & Life; Visit visa and House maid policies.
(10) Motor.
