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Arab Orient Insurance Company (AOIC) - Syria is a Syrian Joint-Stock company with a fully paid-up capital of SYP 850,000,000 and licensed from the Syrian Council of Ministers under the decree N° 26 dated 12/4/2006.

The initial public offering of its shares was completed on 10/8/2006 and the first general assembly meeting took place on 19/4/2006 and has elected its Board of Directors chaired by Mr. Saeb Nahas.

Arab Orient Insurance Company- Syria commenced its operations 3 months after receiving the license from the Syrian Insurance Supervisory Commission on 12/11/2006. The company currently employs 50 employees of high caliber individuals in its 5 branches sited in strategic locations in Damascus, 1 Branch in Tartous, 1 Branch in Latakia, 1Branch in Aleppo and a Branch in Homs.

Services provided by the company include underwriting all classes of  insurance such as Motor, Property All Risk, Marine (Cargo & Hull), Engineering, Group life and Medical Expenses, Workmen's Compensation, Personal Accident, Money, Professional Indemnity, Medical Malpractice Insurance & others.

The rendering of these services as well as the overall business operations of the company are subject to requirements and rules regulated by the Syrian Insurance Supervisory Commission.

The company's current ownership is as follows:

AOIC - UAE                                                            40%

Al Futtaim Group - UAE                                      25%

Nahas Enterprises Group                                   25%

Syrian & Foreign Investors                               10%

The Company has set a firm policy of dealing only with the world's most prominent banks to further ensure
the proper allocation of its resources. The following is a list of the entrusted banks with which the company either has already dealt with or intends to do so further into its operations:

  • International Bank for Trade and Finance
  • Real Estate Bank
  • Popular Credit Bank of Syria
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