Latest news with #SukoonInsurance
Mid East Info
3 days ago
- Business
- Mid East Info
SUKOON REAFFIRMS STRONG MARKET POSITION FOLLOWING POSITIVE S&P STATEMENT - Middle East Business News and Information
Established in 1975, Sukoon Insurance PJSC ('Sukoon') – a public stock company – is among the leading insurance providers in the UAE. Sukoon provides a range of comprehensive insurance solutions for motor, life, health, and general (property, energy, engineering, aviation, marine, and liability) needs to over 830,000 individuals and commercial clients. Sukoon's operations span across Oman and all Emirates in the UAE. Sukoon is committed to providing outstanding insurance solutions which help create and protect wealth and wellbeing. The Dubai-based company stays true to its vision by serving businesses and individuals with a team of over 700 professionals through an intensive distribution network of branches, brokers, bancassurance partners, agencies, e-commerce platforms, and a dedicated call center. In 2024, Sukoon registered gross written premiums GWP of AED 5.84 billion. With a solvency ratio exceeding 270 percent and exemplary ratings from Standard and Poor's (A rated) and Moody's (A2 rated), it clearly demonstrates its financial soundness, robustness in risk management processes, effective governance, and ability to serve its clients effectively in the long run. At its core, the Company is customer-centric, with a keen devotion towards providing exceptional services. Its priority has always been to build long-term relationships with its clients with their delight as its non-negotiable objective. Put simply, Sukoon wants to continue reinforcing its position as a reference for other insurers in the region for exemplary customer service.
Gulf Business
5 days ago
- Business
- Gulf Business
Sukoon Insurance affirms strong market position following S&P Global Ratings bulletin
Image: Getty Images Sukoon Insurance has acknowledged the latest bulletin issued by According to S&P, Sukoon is expected to sustain its diversification efforts both within the UAE and internationally, guided by its board of directors. The agency identified several short- to medium-term growth drivers, including initiatives under Sukoon Takaful, the Lloyd's syndicate 2880, inward treaty reinsurance, individual life insurance, and the Sukoon Workplace Savings Solution, which serves as an end-of-service gratuity programme. The bulletin also noted that Sukoon's performance in the first half of 2025 exceeded expectations. Read: 'The S&P Global Ratings statement is a strong testament to the fundamental strength of our business and the clear vision of our long-term strategy,' said Hammad Khan, Sukoon's interim CEO and chief financial officer. 'Our first-half performance, with a 20 per cent growth in insurance revenue and a 52 per cent increase in net profits, demonstrates the resilience and effectiveness of our team and business model. We are fully committed to building on this momentum and are confident in our ability to deliver continued value for our customers, partners, and shareholders.' S&P also credited the company's transformation to the leadership of Jean-Louis Laurent Josi, who took over as CEO in 2018. Under his direction, Sukoon underwent significant changes, including a corporate rebranding, the acquisition of Sukoon Takaful, and the successful integration of life insurance portfolios from Generali and Chubb in the UAE. For the first half of 2025, Sukoon reported robust financial results, with insurance revenue reaching Dhs3.1bn and net profits climbing to Dhs192m. S&P Global Ratings assessed the company as having strong potential to maintain sustainable and profitable growth moving forward.
Mid East Info
31-07-2025
- Business
- Mid East Info
Sukoon Announces Resignation of CEO Jean-Louis Laurent Josi After Seven Transformative Years - Middle East Business News and Information
Established in 1975, Sukoon Insurance PJSC ('Sukoon') – a public stock company – is among the leading insurance providers in the UAE. Sukoon provides a range of comprehensive insurance solutions for motor, life, health, and general (property, energy, engineering, aviation, marine, and liability) needs to over 830,000 individuals and commercial clients. Sukoon's operations span across Oman and all Emirates in the UAE. Sukoon is committed to providing outstanding insurance solutions which help create and protect wealth and wellbeing. The Dubai-based company stays true to its vision by serving businesses and individuals with a team of over 700 professionals through an intensive distribution network of branches, brokers, bancassurance partners, agencies, e-commerce platforms, and a dedicated call center. In 2024, Sukoon registered gross written premiums (GWP) of AED 5.84 billion. With a solvency ratio exceeding 270 percent and exemplary ratings from Standard and Poor's (A rated) and Moody's (A2 rated), it clearly demonstrates its financial soundness, robustness in risk management processes, effective governance, and ability to serve its clients effectively in the long run. At its core, the Company is customer-centric, with a keen devotion towards providing exceptional services. Its priority has always been to build long-term relationships with its clients with their delight as its non-negotiable objective. Put simply, Sukoon wants to continue reinforcing its position as a reference for other insurers in the region for exemplary customer service.
Zawya
09-04-2025
- Business
- Zawya
Coface to host country risk conference in Dubai to discuss global trade and risk management trends for 2025
Dubai, UAE – Coface, a global leader in trade credit risk management, will hold its Country Risk Conference at the prestigious One & Only Royal Mirage Hotel in Dubai on April 15th 2025. The Country Risk Conference is Coface's recognized flagship event gathering every year top business experts and economists to analyze the major risks that companies face today. Featuring a panel of prominent speakers, the event will provide essential information on the global trends - geopolitical, economic and technological - that will shape the business landscape in the months ahead. The organization of the Dubai edition benefits from the invaluable support of our partner Sukoon Insurance. Navigating Uncertainty in Global Trade For over 75 years, Coface has been at the forefront of trade credit insurance, debt collection, and business information services, helping businesses worldwide grow and thrive in uncertain economic conditions. Today, Coface supports 100,000 clients across approximately 200 markets, offering solutions to develop business, both domestically and abroad, through an effective credit risk management. As businesses grapple with economic instability, supply chain disruptions, and evolving financial risks in 2025, this press conference will serve as a crucial platform to address these challenges from both a regional and global perspective. Jean-Christophe Caffet, Coface Group Chief Economist, will drive us 'into the wild', providing a global outlook on latest trends and the scenarios of global commerce, while Seltem İYİGÜN , Coface Senior Economist for the Middle East and Türkiye, will focus on the challenges of the Middle East amid rising global uncertainties. This year's agenda also includes a round table on the Economic Impact of Artificial Intelligence, with a panel of experts and business leaders analyzing the risks and opportunities of generative AI in business and trade. 'With geopolitical and economic uncertainties on the rise, businesses must adopt proactive risk management strategies,' said Sandrine Sarikey, Country Manager GCC & Egypt 'This event will serve as a valuable forum for exchanging deep insights from seasoned experts and local business leaders to help companies navigate today's challenges and secure their financial future. At Coface, we continue to closely monitor the evolution of trade with the aim of supporting businesses operating in complex markets through targeted risk management solutions.' Jean-Louis Laurent Josi CEO SuKoon said ' In an ever – challenging economic landscape, understanding and managing risks and trade credit risk in particular is a necessity and Coface Country Risk Conference is an event that can give insights and guidance to companies. As we strive to become reference in the region for excellent customer service, the attention to our clients is a key element of each business lines' Coface's mission is to help businesses navigate complex financial environments by providing innovative solutions and expert insights. This conference in Dubai underscores the company's dedication to fostering secure and profitable trade worldwide, equipping businesses across the Middle East region with the tools and knowledge they need to thrive in 2025 and beyond. COFACE: FOR TRADE As a global leading player in trade credit risk management for more than 75 years, Coface helps companies grow and navigate in an uncertain and volatile environment. Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets. with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, Factoring. Every day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets. In 2024, Coface employed ~5 236 people and recorded a turnover of ~€1.84 billion.
Khaleej Times
10-02-2025
- Business
- Khaleej Times
UAE: New AI tool to scan heart rate, blood pressure of life insurance applicants via video
UAE residents planning to purchase life insurance will no longer have to undergo medical tests, thanks to artificial intelligence (AI) technology which is transforming our daily lives. A UAE insurer has introduced an AI-powered face scanning feature which measures key health metrics like heart rate, blood pressure, and respiration rate of life insurance applicants in the country through videoconference. Launched by Sukoon Insurance, this new AI-powered tool eliminates the need for traditional medical exams, making the application process more convenient and efficient. Stay up to date with the latest news. Follow KT on WhatsApp Channels. 'Initially, we've set specific age bands and sum assured limits for policies that will eliminate the need for medical tests. As this is a pioneering approach, we will progressively explore expanding the scope of medical test exemptions,' said Emmanuel Deschamps, executive vice president and head of individual life and workplace saving at Sukoon, which claims to be the first insurer to introduce this technology in the UAE. He added that this solution is currently exclusively for individual life insurance policies. The UAE's public and private sectors have been aggressively pursuing AI to benefit from this revolutionary technology, making the country a hub for responsible AI adoption. According to a study by Trends Research and Advisory, the UAE's AI market is expected to reach $46.33 billion by 2030 on the back of a strong push from the National AI Strategy 2031 and advanced innovation centres. 'Sukoon covers the cost of medical tests, offering significant savings to customers. More importantly, it provides unparalleled convenience, allowing applicants to complete the process from anywhere,' he said, adding that only customers within specific age bands are required to take this test, based on the desired sum assured. In 2024, Sukoon registered gross written premiums (GWP) of Dh5.84 billion. It was rated A by Standard and Poor's and A2 by Moody's. Deschamps added that integrating AI within the videoconferencing tool is a testament to the company's digital approach for greater flexibility and convenience for our customers.
