Daman and Munich Re extend strategic partnership

The initial five-year agreement between both firms was signed in 2005 when Daman was set up. Due to the successful and profitable business development, both companies have agreed to extend the agreement to 2019.

Daman, which is jointly owned by the government of Abu Dhabi(80%) and Munich Re (20%), started operations in 2006. Since then, Daman has captured an 80% share in Abu Dhabi's health insurance market.

The official signing took place in the presence of H.E. Dr. Ahmed Mubarak Al Mazrouei, Chairman of the Health Authority - Abu Dhabi and Dr. Nikolaus von Bomhard, CEO of Munich Re.

H.E. Khaled Abdulla Al Qubaisi, Chairman of Daman, commented: "This strong collaboration has helped Daman to fulfil its role within Abu Dhabi's healthcare system in line with the expectations of the government of Abu Dhabi."

Dr. Wolfgang Strassl, CEO of Munich Health, the third business field of Munich Re: "Our cooperation with Daman is an outstanding example of the success of our strategy in international health business. Together with Daman, we will be looking at new opportunities to build on the success of this cooperation."