PureHealth Expands Daman's Services With Entry Into Property And Casualty Insurance Market

PureHealth has announced a significant shift in its insurance division, Daman, which will now expand into the Property and Casualty (P&C) sector. This move signifies Daman's transformation from a health-centric provider to a multi-line insurer. The company will adopt a new legal name, The National Insurance Company – Daman, to reflect its expanded services within the UAE's insurance market.

Daman's evolution aims to address the changing protection needs of individuals and businesses across the emirates. By offering a wider range of insurance services, it seeks to enhance its role in the UAE's dynamic insurance landscape. This strategic expansion aligns with PureHealth’s vision of creating an integrated healthcare and insurance platform.

Shaista Asif, Group CEO of PureHealth, highlighted that this evolution supports portfolio diversification and risk management across sectors. "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," she stated. The expansion into P&C is seen as a step towards building a future-ready ecosystem aligned with UAE’s development goals.

Khaled Binshaiban Almheiri, Chairman of The National Insurance Company – Daman, remarked on Daman's longstanding reputation in health insurance. "For nearly two decades, Daman has set the benchmark for health insurance in the UAE," he said. He emphasized that while expanding their focus, they will maintain their commitment to trust and customer satisfaction.

The UAE's P&C insurance market is on track for rapid growth, with projections reaching nearly US$16.8 billion by 2031 according to Verified Market Research. This growth is driven by an increase in property and liability policies. In 2023 alone, written insurance policies rose to 14.6 million from 8.4 million in 2022, as reported by the Central Bank of the UAE (CBUAE).

Daman currently provides health coverage to over three million members through more than 3,000 healthcare providers across the UAE. Despite its expansion into new areas, Daman will continue operating under its established brand while introducing new P&C products gradually.

Commitment to Excellence

Daman was recognized as the best perceived health insurance brand in the UAE by Brand Finance’s UAE Healthcare 2024 report. This accolade underscores its dedication to excellence and its mission to foster a healthier community.

The company's strategic shift marks an important chapter in its history as it broadens its offerings while maintaining high standards of service for existing members.

With inputs from WAM