Union Insurance Company

Ticker/ISIN

UNION

AEU000501012

Market/Country

Abu Dhabi Stock Exchange

United Arab Emirates

About Union Insurance Company

Established in 1998 and listed on the Abu Dhabi Securities Exchange, Union Insurance Company has a paid up capital of over AED 330 million. The company provides a wide range of individual and commercial insurance products to clients in the UAE and Middle East region. This includes both standard and customised policies that help individuals, small, medium and large enterprises as well as government entities obtain reliable, cost-effective insurance cover. Additionally, the company offers insurance services such as risk assessment and gap analysis of insurance coverage conducted by professionals with decades of experience. By providing better coverage in areas including, but not limited to, life, health, automotive, property, engineering, liability and marine, Union Insurance helps its clients focus on their core operations, confident that they have adequate insurance cover for various liabilities. Led by some of the most experienced and respected professionals in the industry, the company employs more than 300 people who work in the company’s offices across the UAE including its corporate offices in Dubai and Ajman and branch offices in Abu Dhabi, Dubai, JAFZA, Sharjah and Ras Al Khaimah.

Latest Pressrelease Summaries from Union Insurance Company

Resolution No. 507 of 2024 addresses the temporary suspension of trading for Union Insurance Company shares on the Abu Dhabi Securities Exchange (ADX). The suspension is due to a Board of Directors meeting scheduled for November 12, 2024, at 10:00 AM, which coincides with the trading session. Trading will resume once ADX receives the meeting results. All ADX department heads are instructed to implement this resolution, and it will be communicated to the Securities and Commodities Authority, the concerned company, all ADX departments, and accredited brokers. The resolution was approved by an authorized person and issued on November 7, 2024.

ADX Disclosures: Temporary suspension of trading on the shares of Union Insurance Company on 12 Nov 2024

2 months ago

Fitch Ratings has assigned Union Insurance Company in the UAE a first-time Insurer Financial Strength (IFS) Rating of 'BBB' with a Positive Outlook. This outlook indicates potential improvements in financial performance due to management actions aimed at enhancing the profitability of the company's underwriting. The rating reflects Union's strong capitalization, good company profile, and strong reinsurance protection. Union's CEO, Ramez Abou Zaid, expressed satisfaction with the rating, highlighting it as a recognition of the company's business resilience and growth strategy. He emphasized the company's commitment to improving financial performance and insurance offerings to achieve a higher rating in the future.

Disclosures: Union Insurance Company - Press Release

3 months ago

Resolution No. (459) of 2024 mandates the temporary suspension of trading in the shares of Union Insurance Company on the Abu Dhabi Securities Exchange (ADX) starting from 09:00 on August 12, 2024. This suspension coincides with the company's Board of Directors meeting scheduled at the same time. Trading will resume once ADX receives the meeting results. All department heads at ADX are instructed to implement this resolution within their respective areas. The resolution will be communicated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution was approved by the authorized person and issued on August 6, 2024.

ADX Disclosures: Temporary suspension of trading on the shares of Union Insurance Company on 12 Aug 2024

5 months ago

Resolution No. (403) of 2024 temporarily suspends trading of Union Insurance Company shares on ADX due to the company's Board of Directors meeting scheduled at 10:00 on 13-May-2024, which coincides with the trading session. Trading will be suspended from 09:00 on 13-May-2024 until the meeting results are received by ADX. All department heads in ADX are required to execute this resolution in their respective fields. The resolution is to be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was approved by the authorized person and was issued on 09/05/2024.

ADX Disclosures: Temporary suspension of trading on the shares of Union Insurance Company on 13 May 2024

8 months ago

The text discusses the modification of the Commercial Companies Law No. 2 of 2015, which has been replaced by the Commercial Companies Law No. 32 of 2021. The Central Bank of the United Arab Emirates (CBUAE) notes that this change impacts the establishment of companies. The text also references a previous amendment to the company's foundational system in accordance with the Commercial Companies Law No. 2 of 2015, which was approved in a special resolution by the General Assembly of the company on 24/04/2016.

Disclosures: Disclosure of amendments to the Articles of Association of Union Insurance Company

8 months ago

Union Insurance Company has announced the opening of nominations for its Board of Directors. The nomination period will run from 29/03/2024 to 08/04/2024. Interested shareholders who meet the required conditions can submit their applications in person at the company's Dubai headquarters or via email. The board will consist of seven members. The company will publish a list of candidates on its website and at its headquarters on 16/04/2024. All nominations must comply with Federal Law No. (32) of 2021 and the Chairman of the Authority’s Board of Directors’ Decision no. (3/RM) of 2020. After the nomination period ends, candidates cannot transfer their nomination to another person.

Disclosures: Union Insurance Company - Announcement on the Opening of Nomination for membership of the Borad of Directors

9 months ago

The text provides contact information for Union Insurance located in the Single Business Tower on Sheikh Zayed Road in Dubai, United Arab Emirates. It mentions their address, P.O. Box number, and two contact numbers.

Disclosures: Union Insurance Company Integrated Report December 31,2023

9 months ago

Resolution No. (344) of 2024 is about the temporary suspension of trading on the shares of Union Insurance Company. This is due to the company's Annual General Meeting (AGM) being held at 10:00 on 19-Apr-2024, which coincides with the trading session at ADX. As a result, trading in Union shares will be suspended from 09:00 on 19-Apr-2024 until ADX receives the AGM results. The resolution also instructs all department heads in ADX to execute this resolution in their respective fields and circulate it to the Securities and Commodities Authority (SCA), the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was approved by the authorised person and issued on 26/03/2024.

ADX Disclosures: Temporary suspension of trading on the shares of Union Insurance Company on 19 Apr 2024

9 months ago