Overview

From our modest roots in 1985 as a joint venture Company between State Trading Organization and Commercial Union Assurance Company of the United Kingdom, we've grown to become a multi-line insurance company, offering general insurance products and life insurance products.

Today, our geographic presence extends beyond the capital city Male' to regional branch office in Addu Atoll, we continue to carry out our founding purpose dedicated to providing insurance products that provide quality and protection with value pricing. We wish to establish a successful partnership with our clients, our staff members, and our reinsurance companies, that respect the interests and goals of each party.

The strength and success of the Allied Insurance as the leading insurance company in Maldives is a result of our experience, innovative products and excellent service. We at Allied Insurance Company stick to disciplined underwriting, competitive but fair pricing and long term beneficial investment portfolio. Allied Insurance has a local management and with its in-depth knowledge of the local market. All these factors have contributed us to achieve and fulfil a responsible role of the market leader. Our commitment to develop the Maldivian insurance market, excel in customer service and provide stability and growth to our shareholder's investment assures you that we've got you covered.

History

The growth of international trade in Maldives in the early 80's stipulated the need for insurance as a requirement to complete the international transactions. Thus in 1985, Allied Insurance Company of the Maldives Pvt. Ltd. was formed as a joint venture between the government trading company State Trading Organisation and Commercial Union Assurance Company of the United Kingdom.

This was the foundation for insurance in the Maldives. In the early days the company was only engaged in providing insurance policies for imported and exported cargos and small fishing boats. Insurance was in its infancy stage therefore, a great need to develop local insurance expertise and awareness in local market was a priority.

State Trading Organization Plc, saw the potential of a healthy insurance market in the Maldives, thus in 1987, STO Plc bought back the shares from Commercial Union Assurance Company and continued to operate the with local ownership and management.

The dynamic development in the tourism industry gave rise to demand for different kinds of protection for the resorts and its owners. Allied Insurance Company over the past Quadranscentennial have tirelessly catered to the need of the local market.

Today, providing insurance cover for over twenty different classes of general insurance and four life insurance products Allied Insurance Company has had a tremendous growth both in terms of the volume of business and profitability. The international trade and the local economy is changing and growing every day, and Allied Insurance Company will always be there as a security with its innovative products and services.

Reinsurers of Allied Insurance Company

In the international reinsurance market, Allied Insurance is supported by the world leading reinsures and Allied works in close partnership with these companies, in order to give more professional service to the Maldivian market. Our reinsurance treaties are well protected and reinsured with the following well established and well reputed reinsurance companies:

• Tokio Marine
• Munich Re
• GIC India
• SCOR
• Milli Re (Turkey)
• Malaysian Re

Allied Insurance Company is dedicated to providing insurance products that provide quality and protection with value pricing. We wish to establish a successful partnership with our clients, our staff members, and our reinsurance companies, that respect the interests and goals of each party.

Success will be measured by our clients choosing us because of their belief in our ability to meet or exceed their expectations of price, service, and expertise. From the very beginning in 1985, our establishment has been laid of the company culture that aims to entirely develop the potential of these priceless partnerships The leading market position that Allied enjoys in this competitive environment is attributed to the loyalty of our customers, commitment of employees and the unwavering support given by reinsurers.

At present, new services are being introduced for both commercial clients and individual clients alike and products are being made more simple and user friendly. New arrangements are being made to increase access to small businesses and individual clients throughout the country.

Allied will continue to forge new partnerships and explore new opportunities for the future, in light of the experience of the past years

The Board of Directors is highly qualified and experience and are responsible for establishing broad company policies and for overseeing the overall performance of the Company.

Sana Mansoor (Chairperson)

Chief Financial Officer of State Trading Organization Plc

Abdul Wahid Thowfeeq (Managing Director)

Managing Director of Allied Insurance Company of the Maldives Pvt. Ltd.

Ibrahim Shareef Mohamed (Director)

General Manager of State Trading Organization Plc


Fathimath Ashan (Director)

General Manager of State Trading Organization Plc


Ahmed Niyaz (Director)

General Manager of State Trading Organization Plc


Musthafa Azmy (Director)

Senior Manager of State Trading Organization Plc

Ali Arif (Director)

Deputy Director General of Ministry of Finance & Treasury

Allied's staff presents a mix of pioneers in the industry, together with youthful talent. The experiences of long serving staff supplemented by fresh talent being developed in recent years present an extensive resource base. Allied places great importance on developing expertise within the company. Allied believes that in a continuously changing business environment new challenges are faced and new opportunities explored by having personnel with adequate skills. Developing expertise is aimed at enhancing the service provided to customers and respond rapidly to customers" changing needs.

Abdul Wahid Thowfeeq

Managing Director (Chartered Insurer)

Associate of the Chartered Insurance Institute, UK. He has over 18 years of experience in the field

Ahmed Ameel

General Manager, (MSc. ACII, AMII, Chartered Insurer)

Master of Science in Insurance and Risk Management, City University, UK. Associate of Chartered Insurance Institute (ACII), UK. Associate of Malaysian Insurance Institute (AMII),  Malaysia. He has over 17 years experience in the field.

Mohamed Shafaz

General Manager - Head of Accounts, Finance

Bachelor of Arts in Business Administration from Middlesex University, UK. He has over 17 years of experience in the field.

Abdullah Ashwani

Manager - Legal and Corporate Affairs

Bachelor of Commerce in Accounting and Management from Murdoch University, Australia. He has over 17 years of experience in the field.

Ahmed Riyazi Mohamed

Manager - Information Systems (CCNA, Security+, CEH, WiSE)

Bachelor of Commerce and Administration from Victoria University of Wellington, New Zealand. Master of Computing from National University of Singapore, Singapore. He is a Cisco Certified Network Associate, CompTIA Security+ Certified Professional, EC-Council Certified Ethical Hacker and a Ruckus Wireless Solutions Engineer. He has over 10 years of experience in the field.

Mohamed Shirneel

Manager - Marketing and Business Development

Bachelor (Hon) of Business Computing from Staffordshire University, UK. He has over 13 years experience in the field.

Ahmed Shabiq

Manager - Health Insurance (AMII)

Associate of Malaysian Insurance Institute (AMII). He has over 9 years experience in the field.

Hussain Luwaiz

Manager - Marine & Personal Insurance (AMII)

Associate ship of Malaysian Insurance Institute. He has over 9 years experience in the field.

Ahmed Ameem Mohamed

Manager - Commercial Insurance (AMII)

Associate of the Chartered Insurance Institute (ACII), UK. He has over 15 years experience in the field.

Mohamed Ahmed

Manager - Human Resources & Training

Master of Science in Tourism Development, Universiti Sains Malaysia, Malaysia. Bachelor of Hospitality and Tourism Management (Hons), Université de Toulouse - Le Mirail, France. He has over 05 years experience in this field.

Srinivasan Ramakrishnan

Manager - Life Insurance (B.SC.,F.I.I.I, DAM.)

Fellow of Insurance in Institute of India with over 37 years of experience in the field.