H.E. the German Minister of Economics and Technology Inaugurates Daman’s New Al Bateen Branch
His Excellency, Mr. Michael Glos, the German Minister of Economics and Technology inaugurated today the Al Bateen Branch of the National Health Insurance Company – Daman. Accompanying the Minister were His Excellency Dr. Ahmed Mubarak Al Mazrouei, Chairman of Daman Board of Directors, Dr. Michael Bitzer, CEO of Daman, and Mr. Nabil Peter Choueiri, Board Member of Daman, and senior executive of Daman’s strategic partner Munich Re.
The opening took place on 5th of Feb 2007 at 7.30 P.M in the Al Bateen Branch, which is located in the Bateen Area next to the Central Bank in Abu Dhabi. Delegates, business leaders and many prominent guests from the German Embassy and the General Authority for Health Services attended the event.
“We are pleased to welcome H.E. the German Minister of Economics to the official opening of our forth branch. Al Bateen is the largest among the four branches, which keeps our expansion plans coherent with the increase of demand for health insurance in the market,” said His Excellency Dr. Ahmed Mubarak Al Mazrouei. “Munich Re is Daman’s strategic partner and offers us extensive experience and expertise in the field of health insurance and re-insurance. The joint efforts of Daman and Munich Re make sure that Daman can provide an excellent level of service to our customers,” he added.
The Al Bateen Branch provides all the complete services of the Daman Main Office, such as sales, underwriting, production, finance and customer service. The branch caters to all individuals and groups under fifty employees. The branch staff received extensive training in order to provide the same quality of service as the main office yet at a convenient location for its customers.
“We have already observed in our branches an enormous response to the health insurance law in the Emirate of Abu Dhabi. We currently receive over 200 customers per day inquiring about various services with regards to their health insurance policy, and we expect this number to increase by time as we expand our branch facilities even further,” said Omar Al Qubaisi, Al Bateen Branch Manager. “Our branch mainly serves individuals and small groups consisting of 50 employees or less,” added Al Qubaisi.
About National Health Insurance Company – Daman
The National Health Insurance Company – Daman, was established following the issuance of Decree No. 39-2005 by H.H. Sheikh Khalifa Bin Zayed Al Nahyan, as a public joint stock company providing health insurance services in September 2005. Daman is the first and largest UAE-based public company specializing in the health insurance sector in the Emirates.
Shortly after its formation, Daman signed a partnership agreement with Munich Re due to its extensive experience in health insurance exceeding 125 years, hence naming it the strategic partner responsible for the establishment and operation of Daman.
Daman provides health insurance coverage to all expatriates working and residing in the Emirate of Abu Dhabi, and is the exclusive provider of health insurance services for employees in the public sector in Abu Dhabi. In addition to the basic services stipulated in the Health Insurance Law, Daman also offers additional services that provide insurance coverage over a broader geographical base through its extensive network worldwide.
Daman has attracted highly experienced professionals locally and internationally to join its team, and expects to house a workforce of over 500 employees by 2007.
About Munich Re
Munich Re Group has a unique position in the international health market as one of the world’s leading reinsurers as well as a primary insurer in many health insurance markets. Furthermore, Munich Re’s special service company MedNet provides health insurance administration and management in a number of countries in Europe and beyond.
In the business year 2005, the Munich Re Group achieved a profit of €2,743m, the highest in its 126-year corporate history. In 2005, its premium income amounted to approximately €38bn and its investments to around €177bn. The Group is characterized by particularly pronounced diversification. It has approximately 38,000 employees at over 50 locations throughout the world and operates in all lines of insurance. With premium income of around €22bn in the year 2005 from reinsurance alone, it is one of the world's leading reinsurers. Its primary insurance operations are mainly concentrated in the ERGO Insurance Group, the second-largest provider in the German primary insurance market and a leading player in several other European insurance markets.