Daman, National Health Insurance Company

Establishment

Daman was established in 2005 as part of the Government of Abu Dhabi's healthcare reform initiative aimed at introducing mandatory health insurance coverage within the emirate.

The company officially began operations in May 2006 and was formed through a strategic partnership between the Abu Dhabi government and German reinsurance company Munich Re. Under the original ownership structure, the Government of Abu Dhabi held 80% ownership while Munich Re held the remaining 20%.

Munich Re partnership

Munich Re, founded in Germany in 1880, is one of the world's largest reinsurance companies and is known for underwriting complex global risks including aviation, natural disasters, cyber security, energy infrastructure, and healthcare.

Through its healthcare division Munich Health, Munich Re played a central role in building Daman's insurance infrastructure, underwriting standards, actuarial systems, claims management structures, and international healthcare risk practices.

In 2009, Daman and Munich Re extended their strategic partnership until 2019 after rapid market growth and expansion.

Market expansion

Following the implementation of mandatory health insurance in Abu Dhabi, Daman experienced rapid growth and became the dominant health insurer within the emirate. By 2009, the company reportedly held approximately 80% of Abu Dhabi's health insurance market.

In 2010, Daman announced that it had surpassed 2 million insured members, becoming one of the Gulf region's fastest-growing health insurers.

During this period, Daman launched multiple insurance programmes including:

Operations

Daman operates across all seven emirates of the UAE and offers a range of insurance products and healthcare services including:

Government healthcare programmes

Corporate health insurance

SME health insurance

In October 2021, Abu Dhabi sovereign wealth holding company ADQ acquired Munich Re's remaining 20% stake in Daman, making the insurer fully owned by Abu Dhabi government entities.

Following the acquisition, Munich Re continued to act as Daman's strategic reinsurance partner and continued supporting underwriting and healthcare insurance services.

ADQ, established in 2018, is one of Abu Dhabi's largest state-owned holding companies and manages investments across sectors including healthcare, energy, logistics, infrastructure, transport, food, and agriculture.