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Yahoo
3 days ago
- Business
- Yahoo
PureHealth's Daman forays into P&C insurance space
PureHealth, an United Arab Emirates-based hospital and health insurance group, has announced the expansion of its insurance arm, Daman, into the property and casualty (P&C) segment. The move represents a diversification of services for the company, which has been focused on health insurance. As part of this evolution, Daman will adopt a new legal name, The National Insurance Company – Daman. The National Insurance Company – Daman chairman Khaled Binshaiban Almheiri commented: 'For nearly two decades, Daman has set the benchmark for health insurance in the UAE. This evolution marks a pivotal chapter – expanding our focus to offer a broader range of insurance solutions while maintaining the same rigour, trust and customer-first mindset our members know and value. 'By protecting individuals, businesses and assets, we are proud to play a central role in supporting the UAE's vision for sustainable well-being and long-term economic resilience.' As PureHealth's insurance arm, Daman currently provides coverage to over three million members through a network of more than 3,000 healthcare providers. Daman will utilise AI-powered underwriting and claim settlement processes to support its entry into the P&C insurance market and emphasised its multilingual service infrastructure as part of its expansion strategy. The insurer will maintain the Daman brand and plans a phased introduction of its new P&C offerings to ensure continuity of its health insurance clientele. PureHealth CEO Shaista Asif said: 'Daman's evolution reflects PureHealth's broader strategy to create a fully integrated healthcare and insurance platform that drives better customer service and long-term value creation. 'Expanding into the Property and Casualty segment enhances portfolio diversification, supports risk management across sectors, and reinforces our commitment to shaping a future-ready ecosystem aligned with the UAE's economic and social development priorities.' "PureHealth's Daman forays into P&C insurance space " 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. Sign in to access your portfolio
Web Release
4 days ago
- Business
- Web Release
PureHealth drives insurance business growth with Daman's entry into Property and Casualty insurance market
PureHealth, the largest hospital and health insurance group in the Middle East, today announced the strategic expansion of its insurance arm, Daman, marking its transformation from a health-focused provider into a comprehensive, multi-line insurer with entry into the high-growth Property and Casualty (P&C) segment. As part of this evolution, Daman will adopt a new legal name: The National Insurance Company – Daman, reflecting its broadened scope and strengthened position within the UAE's dynamic insurance landscape. The transition reflects Daman's broader mission to meet the evolving protection needs of individuals and businesses across the emirates by offering them a broader suite of insurance services. As the insurance arm of PureHealth and the UAE's leading health insurer, Daman's expansion into the P&C segment supports its vision to become a comprehensive insurance provider and aligns with the group's commitment to deliver holistic care and coverage throughout all stages of life. Shaista Asif, Group Chief Executive Officer of PureHealth, stated: 'Daman's evolution reflects PureHealth's broader strategy to create a fully integrated healthcare and insurance platform that drives better customer service and long-term value creation. Expanding into the Property and Casualty segment enhances portfolio diversification, supports risk management across sectors, and reinforces our commitment to shaping a future-ready ecosystem aligned with the UAE's economic and social development priorities.' H.E. Khaled Binshaiban Almheiri, Chairman of The National Insurance Company – Daman, commented: 'For nearly two decades, Daman has set the benchmark for health insurance in the UAE. This evolution marks a pivotal chapter – expanding our focus to offer a broader range of insurance solutions while maintaining the same rigour, trust and customer-first mindset our members know and value. By protecting individuals, businesses and assets, we are proud to play a central role in supporting the UAE's vision for sustainable wellbeing and long-term economic resilience.' Daman currently provides health coverage to more than three million members across a network of over 3,000 healthcare providers in the UAE. Backed by a resilient operational backbone, Daman brings together AI-powered underwriting, industry-leading efficiency in claim settlement, and a multilingual service delivery infrastructure to seamlessly support its expansion into new insurance verticals, without compromising its longstanding reputation for excellence. As per the Central Bank of the UAE (CBUAE), the total number of written insurance policies for all types of insurance within the UAE increased to 14.6 million policies year-on-year in 2023, compared to 8.4 million policies in 2022, due to a higher number of property and liability insurance policies. The UAE's P&C insurance market is poised for further accelerated growth, which is projected to reach nearly USD 16.8 billion by 2031, according to Verified Market Research. In response to this growing demand, the company will continue to operate under the well-established Daman brand, introducing new P&C products in phases while ensuring uninterrupted service for existing members. Daman was named the best perceived health insurance brand in the UAE, according to the UAE Healthcare 2024 report from Brand Finance – a recognition that reflects its commitment to excellence and mission to cultivate a healthier community. This strategic growth plan reinforces PureHealth's broader vision to advance the science of longevity and deliver the promise of holistic care, from prevention to protection, through a connected health and insurance ecosystem.
