A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of B++ (Good) and issuer credit rating of ‘bbb to Union Insurance Company. The outlook assigned to both ratings is stable.
As per AM Bests press release, the ratings reflect Union Insurances solid risk-adjusted capitalisation and incorporate the strength of its new senior management team, who joined the company in the third quarter of 2012. With a wealth of experience in the Middle East insurance markets and an impressive track-record spanning over 15 years with one of the leading domestic insurers, the management team has made considerable progress in restructuring Union Insurances operations; establishing tighter controls, guidelines and reporting across business units, stricter underwriting to improve profitability, an overhaul of claims reserving and enhanced enterprise risk management.
Although Union Insurance didnt have an impressive track-record prior to the change in leadership, the measures taken by the new management have resulted in significantly improved underwriting performance, a move towards a balanced business profile and reduced concentration in real estate assets during the first 9 months of 2013.
UIC's private health insurance offers you both choice and flexibility to help you find a healthcare plan that suits your requirements perfectly, as well as those of your family. From diagnosis to medical treatment, our coverage is carefully designed to secure your health and with it, your peace of mind.
Nothing is more important than being able to provide for your loved ones despite any eventuality. Regardless of your situation in life, you're guaranteed to find a life insurance plan that is perfectly tailored to your needs among the extensive range on offer below.
Whether it's the theft of your personal belongings or structural damage caused by a natural disaster, our comprehensive coverage addresses every single contingency that poses a potential threat to your home, and takes steps to protect you from it.
UIC's group health insurance plans are designed for companies of all sizes, providing employers with straightforward solutions that are guaranteed to protect the interests of their employees as well as their organisation.
UIC's property insurance addresses a wide range of risks, ranging from accidental mishaps to natural calamities. Regardless of the size of your business, we have addressed every measure you need to consider to protect it, as you can see from the array of plans available below.
Whether you want to secure your vessel from external risks or protect the valuable cargo on board, UIC's marine insurance plans offer coverage for every risk you've thought of - as well as some you haven't - to ensure your security at sea.
UIC's fully tailored engineering insurance plans are designed to meet specific risks faced by the engineering industry. We offer security to you and your employees by addressing the particular requirements of your company and protecting you from legal costs, compensation, and expenses.
UIC offers an extensive range of plans to secure yourself, as well as your business, from any sort of liability that may arise suddenly and unexpectedly. This is supplemented by round the clock customer care that will provide you with immediate assistance and make your journey with us as smooth as possible.