Orient Insurance Chairman awarded ‘Personality of the Year 2016’ in the Middle East

Wednesday, 30 November 2016 00:01 - - {{hitsCtrl.values.hits}}

Orient Insurance Chairman Omer Elamin was awarded the prestigious ‘Personality of the Year 2016’ and parent company Orient Insurance PJSC was awarded ‘General Insurance Company of the Year’ at the Middle East Insurance Industry Awards 2016.

With consistent underwriting results over the years bearing testimony to its in-depth knowledge and understanding of the market, Orient emerged as a deserving winner of the General Insurance Company of the Year award at the Middle East Insurance Industry Awards 2016.

Another key highlight of the ceremony was Omer Elamin, Group President of Orient Insurance, and Chairman of Orient Insurance Sri Lanka, being awarded the prestigious ‘Personality of the Year 2016’ for his sound track record in management, continuous leadership in the industry and mentorship of numerous insurance leaders in the region.

The parent company of Orient Sri Lanka, Orient Insurance PJSC, commenced operations on 1 January 1982,and over the years grown to become the second largest insurance company in the UAE in terms of GWP in 2015. Orient’s GWP registered impressive growth of nearly 30% from $490 million in 2014 to $ 627 Million in 2015.

Orient commencing operations with a capital of $ 1.4 million, equity and at the end of 2015 this capital stood at an impressive $ 730 million with a paid up capital of $ 136 million. The equity has been built over the years through profit retention and plough back, without any further contribution from the shareholders despite having a consistent dividend policy of 20% every year. The company has registered over 30 years of continued profitability.

Orient deals with well-rated reinsurers. Its reinsurance treaty bouquet has been led by Swiss Re for more than 25 years. Orient has secured credit ratings of “A Excellent” from A.M. Best and “A” from Standard & Poor’s, which is the highest combined rating in the region. It is accredited with ISO 9001 Quality Management Certification.

Orient Insurance, Sri Lanka commenced operations in 2011 as a General Insurer and is backed by global re-insurers with the highest ratings and the financial strength of the Orient Group, considered as one of the most stable insurance companies in the region and part of the largest trading houses in the Gulf, the Al-Futtaim Group.

The company has an impressive portfolio of clients and cater to the insurance needs of some of the biggest manufacturing and trading groups in Sri Lanka. The strategic partnership with AMW Group and AMW Capital Leasing & Finance PLC, two fully owned subsidiaries of the Al-Futtaim Group, allows customers the great ease of obtaining all their motor insurance solutions under one roof from an extensive branch network distributed across Sri Lanka.

Orient Insurance Sri Lanka CEO Tanuj Edward commented: “We in Sri Lanka are extremely proud of these achievements. The stature and leadership of Omer Elaminand the might of our parent company, has given Orient Sri Lanka the potential and capability to add value to Sri Lankan customers by offering innovative products in motor, property, engineering, travel, medical, casualty, and marine sectors. The passionate and experienced team of insurance professionals of Orient are focused on developing customised solutions to cater to the requirements of the local market and offer the best insurance products available in the market.”