Latest news with #OrientInsurance
Yahoo
6 days ago
- Business
- Yahoo
GlobeMed Saudi ties up with Orient Insurance to offer healthcare services
GlobeMed Saudi has joined forces with Orient Insurance – Saudi Branch to offer healthcare services for the latter's insured members in Saudi Arabia. This partnership will allow Orient Insurance members to utilise a network of more than 3,800 healthcare providers across the country. The network includes dental clinics, diagnostic centres, hospitals, medical complexes, optical centres, pharmacies and physiotherapy centres. GlobeMed has further established 13 field offices at key hospitals to offer support and on-site assistance. In addition, GlobeMed has developed the GlobeMed FIT mobile application to facilitate the management of insurance coverage for members. Commenting on the appointment, GlobeMed Saudi general manager Jad Moawad said: 'We welcome Orient Insurance and proud to have them onboard among our trusted portfolio of clients. This partnership reflects our common mission to support insured members we proudly serve in the kingdom. 'Our collaboration with Orient Insurance holds a great promise for driving success and delivering value to insured members. Together, we are committed to enhancing their satisfaction through seamless service.' Orient Insurance, which has more than 40 years of experience and considerable presence in the United Arab Emirates and regional markets, is now expanding into Saudi Arabia. Set up in 2004, GlobeMed Saudi has 20 years of experience in the Saudi healthcare market, offering healthcare benefits management and digital solutions. GlobeMed Saudi is a GlobeMed Group franchisee. "GlobeMed Saudi ties up with Orient Insurance to offer healthcare services " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
7 days ago
- Business
- Zawya
GlobeMed Saudi and Orient Insurance Saudi branch announce collaboration to offer differentiated services to insured members
GlobeMed Saudi, the leading healthcare benefits management company in the Kingdom of Saudi Arabia, announces a collaboration with Orient Insurance – Saudi Branch, part of Orient Group, a top-tier insurance provider in the UAE with strong regional expertise. This collaboration, effective from May 2025, will enable Orient Insurance's insured members to access quality healthcare services, ensuring an exceptional customer experience. GlobeMed Saudi offers Orient's insured members access to a wide Network of over 3,800 healthcare providers, including a broad selection of hospitals, medical complexes, pharmacies, diagnostic centers, dental clinics, physiotherapy centers, and optical centers across the Kingdom. To further enhance the member journey, GlobeMed operates 13 field offices at key hospitals, providing seamless support and on-site assistance at provider locations. This is further supported by the 'GlobeMed FIT' mobile app, which allows members to manage their insurance coverage easily, reflecting GlobeMed's commitment to enhancing the customer experience. On this occasion, Jad Moawad, General Manager of GlobeMed Saudi, said 'We welcome Orient Insurance and proud to have them onboard among our trusted portfolio of clients. This partnership reflects our common mission to support insured members we proudly serve in the Kingdom.' He added, 'Our collaboration with Orient Insurance holds a great promise for driving success and delivering value to insured members. Together, we are committed to enhancing their satisfaction through seamless service.' Orient Insurance is one of the leading insurance companies in the UAE and several regional markets, backed by over 40 years of experience. As the company enters the Saudi market, it leverages this expertise to provide comprehensive insurance services designed to meet local market needs. With over 20 years of experience in the ever-evolving Saudi healthcare market, GlobeMed Saudi puts its vast healthcare benefits management expertise and state-of-the-art digital solutions at the service of its clients and their insured members for the smooth delivery of health insurance services.
Mid East Info
14-05-2025
- Business
- Mid East Info
Orient Insurance Announces Q1 2025 Results, Highlighting Increased Revenue and Earnings Per Share - Middle East Business News and Information
The company reported a 20.2% increase in insurance revenue, reaching AED 2.15 billion compared to AED 1.79 billion in Q1 2024. Net profit after tax grew by 4.1% to AED 312.6 million, compared to AED 300.3 million in the same period last year. Dubai, United Arab Emirates;May 2025: Orient Insurance, the leading UAE insurance provider in the UAE and a subsidiary of Al-Futtaim, today announced its financial results for the first quarter ended 31 March 2025, highlighting robust growth across key financial indicators. Over the past quarter, insurance revenue growth expanded significantly to AED 2.15 billion, up from AED 1.79 billion in Q1 2024. Meanwhile, net profit after tax increased to AED 312.6 million this quarter, compared to AED 300.3 million for the same period in 2024. Earnings per share grew 4.1%, rising to AED 62.52 per share compared to AED 60.07 in Q1 2024. Key financial highlights for Q1 2025: Insurance Revenue: AED 2.15 billion, up by 20.2% from AED 1.79 billion in Q1 2024. Net Profit After Tax: AED 312.6 million, representing a 4.1% increase from AED 300.3 million in Q1 2024. Total Equity: AED 5.59 billion, a 7.4% increase from AED 5.21 billion at the end of 2024. Total Assets: AED 16.39 billion, up by 4.6% from AED 15.67 billion at the end of 2024. Earnings Per Share: AED 62.52, up by 4.1% from AED 60.07 in Q1 2024. Omer Elamin, President of Orient Group, said : 'Orient Insurance has delivered a strong start to 2025, demonstrating our resilience and strategic focus. We are particularly pleased with our ability to maintain profitability and growth, a testament to our operational efficiency and prudent risk management. Our solid earnings provide us with the financial flexibility to reinvest in strategic initiatives and further strengthen our market position. Orient Insurance is well-positioned to capitalise on emerging opportunities and continue to lead in the insurance sector.' Moving forward, Orient Insurance remains committed to innovation and customer-centricity. The company is actively pursuing new technologies and approaches to enhance customer experience, streamline operations, and create long-term value for its stakeholders. This focus is allowing Orient Insurance to continue exceeding expectations and to provide unparalleled insurance services. About Al-Futtaim: Established in the 1930s as a trading business, Al-Futtaim today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Operating across 18 countries in the Middle East, North Africa and Asia, the Group spans key sectors including automotive, financial services, real estate, retail, and health. Al-Futtaim's work is driven by a clear purpose: to enrich lives and elevate communities through practical, forward-looking solutions. Employing a workforce of nearly 33,000 people, Al-Futtaim represents a portfolio of over 200 of the world's most recognised and trusted brands, including Toyota, Lexus, IKEA, ACE, Marks & Spencer, and many more. With a strong focus on digital innovation and artificial intelligence, sustainable growth, strategic partnerships, and empowering its people, Al-Futtaim's approach is anchored in long-term value creation. Its integrated business model positions the Group as a reliable partner to stakeholders—supporting customers, communities, and collaborators alike in navigating the needs of today while planning for tomorrow. Underpinned by the values of respect, excellence, collaboration, and integrity, Al-Futtaim continues to build a legacy that reflects its responsibility to people, progress, and the planet.
Zawya
14-05-2025
- Business
- Zawya
Orient Insurance announces Q1 2025 results, highlighting increased revenue and earnings per share
The company reported a 20.2% increase in insurance revenue, reaching AED 2.15 billion compared to AED 1.79 billion in Q1 2024. Net profit after tax grew by 4.1% to AED 312.6 million, compared to AED 300.3 million in the same period last year. Dubai, United Arab Emirates: Orient Insurance, the leading UAE insurance provider in the UAE and a subsidiary of Al-Futtaim, today announced its financial results for the first quarter ended 31 March 2025, highlighting robust growth across key financial indicators. Over the past quarter, insurance revenue growth expanded significantly to AED 2.15 billion, up from AED 1.79 billion in Q1 2024. Meanwhile, net profit after tax increased to AED 312.6 million this quarter, compared to AED 300.3 million for the same period in 2024. Earnings per share grew 4.1%, rising to AED 62.52 per share compared to AED 60.07 in Q1 2024. Key financial highlights for Q1 2025: Insurance Revenue: AED 2.15 billion, up by 20.2% from AED 1.79 billion in Q1 2024. AED 2.15 billion, up by 20.2% from AED 1.79 billion in Q1 2024. Net Profit After Tax: AED 312.6 million, representing a 4.1% increase from AED 300.3 million in Q1 2024. AED 312.6 million, representing a 4.1% increase from AED 300.3 million in Q1 2024. Total Equity: AED 5.59 billion, a 7.4% increase from AED 5.21 billion at the end of 2024. AED 5.59 billion, a 7.4% increase from AED 5.21 billion at the end of 2024. Total Assets: AED 16.39 billion, up by 4.6% from AED 15.67 billion at the end of 2024. Earnings Per Share: AED 62.52, up by 4.1% from AED 60.07 in Q1 2024. Omer Elamin, President of Orient Group, said: 'Orient Insurance has delivered a strong start to 2025, demonstrating our resilience and strategic focus. We are particularly pleased with our ability to maintain profitability and growth, a testament to our operational efficiency and prudent risk management. Our solid earnings provide us with the financial flexibility to reinvest in strategic initiatives and further strengthen our market position. Orient Insurance is well-positioned to capitalise on emerging opportunities and continue to lead in the insurance sector." Moving forward, Orient Insurance remains committed to innovation and customer-centricity. The company is actively pursuing new technologies and approaches to enhance customer experience, streamline operations, and create long-term value for its stakeholders. This focus is allowing Orient Insurance to continue exceeding expectations and to provide unparalleled insurance services. About Al-Futtaim Established in the 1930s as a trading business, Al-Futtaim today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Operating across 18 countries in the Middle East, North Africa and Asia, the Group spans key sectors including automotive, financial services, real estate, retail, and health. Al-Futtaim's work is driven by a clear purpose: to enrich lives and elevate communities through practical, forward-looking solutions. Employing a workforce of nearly 33,000 people, Al-Futtaim represents a portfolio of over 200 of the world's most recognised and trusted brands, including Toyota, Lexus, IKEA, ACE, Marks & Spencer, and many more. With a strong focus on digital innovation and artificial intelligence, sustainable growth, strategic partnerships, and empowering its people, Al-Futtaim's approach is anchored in long-term value creation. Its integrated business model positions the Group as a reliable partner to stakeholders—supporting customers, communities, and collaborators alike in navigating the needs of today while planning for tomorrow. Underpinned by the values of respect, excellence, collaboration, and integrity, Al-Futtaim continues to build a legacy that reflects its responsibility to people, progress, and the planet. For more information, visit: Follow us on social media: LinkedIn (@Al-Futtaim) Instagram (@alfuttaim) X (@alfuttaim) Facebook (@Al-Futtaim) For media enquiries, contact: Layla AlBarghouthi Kartik Suresh
Zawya
05-05-2025
- Business
- Zawya
Oman: Orient Insurance inaugurates new office in Al Khuwair, Muscat
Muscat: Orient Insurance, a part of Al-Futtaim Group and one of the leading insurance providers in the region, proudly announces the official opening of its new office in Al Khuwair, Muscat, strengthening its presence in the Sultanate of Oman. The inauguration ceremony was held on April 15, 2025, and was graced by the esteemed Chief Guest Mr. Ahmed Bin Salem Bin Abdullah Al Harrasi, Director General of Markets Regulation and Development Sector, Financial Services Authority (FSA), Oman. He inaugurated the new premises alongside Mr. Omer Elamin, President of Orient Group, and Mr. Aqil Al Lawati, Country Head – Oman. The event was marked by the presence of Orient's senior leadership, including: •Mr. Fadi Awni, Chief Marketing Officer •Mr. Vamshidhar Vanama, Deputy CEO •Mr. Wissam Khalifeh, Chief Health Officer •Mr. Rohana Alagiyage, Chief Technical Officer The leadership team's participation underscored Orient's commitment to delivering innovative, reliable, and customer-centric insurance solutions in Oman. 'We are proud to open the doors to our new office in Al Khuwair,' said Mr. Omer Elamin. 'This strategic expansion reaffirms our dedication to serving the growing needs of the Omani market with world-class insurance offerings, supported by strong partnerships and digital innovation.' Orient Insurance extends its heartfelt gratitude to the esteemed dignitaries, industry stakeholders, and valued business partners who joined in commemorating this significant milestone. With this new office, Orient Insurance is poised to further enhance accessibility, service excellence, and client engagement in Oman's vibrant insurance landscape. © Muscat Media Group Provided by SyndiGate Media Inc. (
