Al Sagr: Dubai’s Trusted Insurance Partner for Over Four Decades

Started off as a regional provider in 1979 by way of an Emiri Decree from His Highness the late H.H. Sheikh Rashid Bin Said Al Maktoum, Al Sagr National Insurance Company has escalated from that small beginning to become a cornerstone in the insurance land in Dubai. Al Sagr’s excellent financial portfolio coupled with a heart to offer unparalleled insurance services has made it one of the most trusted entities in the United Arab Emirates’ financial industry.

Al Sagr National Insurance Company was incorporated on 25 December 1979, through an Emiri Decree No. 15 issued by His Highness the late H.H. Sheikh Rashid Bin Said Al Maktoum, then Ruler of Dubai and Vice President of UAE. This marked the initiation of Al Sagr’s mission as a public shareholding company offering comprehensive insurance solutions for the UAE. The company is registered with the Ministry of Economy & Commerce of the UAE under Registration No. 202191 and operates under License No. 16, under Federal Insurance Law No. (9) of 1984. Over the years, Al Sagr has expanded its operations for covering all types of insurance: life, health, motor, and property insurance.

Other consistent indicators over Al Sagr are also strong financial growth. From a capital of AED 10 million upon commencement, the company expanded its paid-up capital to AED 230 million and continued expanding assets with a strong performance in growing them to AED 1.26 billion in December 2013. Such a consistent business story has helped Al Sagr endow its firm with a reputation as a reliable insurance partner. Not only is there growth in the number of the company, but also in the scale of operations. Widespread branches throughout the UAE ensure accessibility for a broad-based customer. There is a huge insurance footprint in Saudi Arabia for Al Sagr in terms of its regional influence.

Al Sagr National Insurance has continually collaborated with many of the world’s top reinsurers to ensure a robust safety net while delivering the highest quality risk management solutions. Reinsurance partners have an important role in helping the company increase its financial stability and manage large risks in a most effective manner. This solid support manifests itself as a foundation by which Al Sagr is ready to cater to customers 360 degrees-even at unpredictable times. Rating agencies globally affirm the financial strength of Al Sagr. A.M. Best Europe – Rating Services Limited assigned Al Sagr a Financial Strength Rating of B++ (Good), reflecting Al Sagr’s sound risk management practices, good capitalization, and overall strong financial footing, which enables service to all obligations to policyholders without detrimental effects.

Al Sagr National Insurance Company offers a diversified solution approach for clients of all corporate and individual stature by having flexible packages. They offer motor insurance that can be taken on third-party liability and comprehensive plans, health insurance to secure the needs of individuals and families, and lastly, property and liability to secure any business in case of uncertain events. Moreover, Al Sagr offers specialized marine and aviation insurance products, covering vessels and aircraft with relevant liabilities to provide comprehensive protection in various fields. In order to materialize its commitment to excellence, Al Sagr has professional experienced employees on its board. Because the company boasts of a qualified workforce to supply personalized service to clients and deliver professional advice to them. This ranges from senior executives like Mutaz Sagar, General Manager, down to specialized roles such as Vijay Raghushankar heads operations for Health Insurance. Every member ensures that Al Sagr offers value and security for its clients.

Al Sagr National Insurance Company is also known to be a company which owns a strong sense of corporate social responsibility. The company actively participates in activities enhancing the welfare of society by supporting different charitable organizations and community development programs across the UAE. This not only enhances their reputation but also proves to be a concern toward changing the social scenario for good. The company has faced some major changes since its establishment in 1979. The company’s foundation and growth in financial strength have prepared it for its future. The company’s focus on customer service remains strong, even as the company continues to solidify its footprint into the region by ensuring quality insurance services cater to changing client needs.

Al Sagr National Insurance comes out on top in three critical areas-proven track record, extensive product offerings, and a focus on customer-centric growth. As an individual looking for comprehensive personal insurance or as a business seeking reliable corporate solutions, Al Sagr’s legacy of reliability and customer care makes it a preferred partner to achieve peace of mind in the UAE.