Ocean Spa Insurance

A subsidiary company of Ocean Spa, Ocean Spa Insurance Pvt. Ltd., was setup in August 2006 with a view to give the best security needed for the growing business & individual community of the Republic of Maldives.

Ocean Spa Insurance Pvt. Ltd., in collaboration with ABC INSURANCE COMPANY LTD of Sri Lanka, will work honestly to satisfy the customers and to build a trustful relationship between the customer and the company, giving them the assurance that they are safe from everything what they fear of.

The management of this company will be directed by persons with considerable experience in the trading industry, and will be headed by Mr. Mamshoog Amjad as the Managing Director, who have been in the trading business for more than 13 years, and who knows the benefit and the advantage of what insurance gives to a business or an individual.

Ocean Spa Insurance will be working as, the Principal Agent of ABC Insurance Company, in the Republic of Maldives. Both the companies signed the agreement on the 10th Day of August 2006. ABC Insurance is a sister company of ABC Group of companies, whose core business are shipping related.

VISION

To be the most innovative, dependable and trusted
General Insurance Company in the
Republic of Maldives.

This vision Statement indicates that we want to be trend setters for the insurance industry and how we want others to emulate the company. The statement emphasizes innovation as a strategic vision while maintaining the recognition of the Company as a dependable entity.

MISSION

To introduce and implement innovative
General Insurance solutions to our valued customers that would enhance and surpass their expectations.

This Mission Statement clearly portrays the company’s ability to create wealth for our clientele through optimal and sustainable solutions. It stresses on the fact that the solutions we provide to our Clients are to be optimal and at the same time, sustainable.

THE BASIC STRUCTURE

Ocean Spa Insurance Pvt Ltd is a composite insurance company offering General Insurance products. All the policies on insurance will be underwritten by ABC Insurance and also given directly by them.

ABC Insurance company Limited has six reinsurance companies for the General Insurance business, arranged by the Company’s Broker, JLT Re Asia in Singapore, a member of the internationally reputed Jardine, Lloyds and Thompson Group, UK. The names of the reinsurance companies are: Allianz Reinsurance (Singapore), General Insurance Corporation of India, Mitsui Sumitomo Reinsurance (Singapore), Tao Reinsurance (Singapore), BEST Reinsurance (Malaysia) and Labuan Reinsurance (Malaysia).

General Insurance Products

We offer a wide range of insurance solutions.

PERSONAL: Home, Vehicle, Travel, Small Business, Investment.

CORPORATE: Fire and Allied Perils; Business Interruption, Industrial ‘All Risks’.

MOTOR: Vehicle Insurance of all types

MARINE: Open Cover – Imports/Exports, Single Policies; Cargo Insurance –Transit by sea & air; Throughput policies (Estate Combines); Hull.

MISCELLANEOUS: Workmen’s Compensation; Various Liability Covers; Burglary; Personal Accident; Money; Banker’s Blanket Bond; All Risk Covers; Medical & Surgical Expenses; Combined/Comprehensive Policies – Small Business; Hoteliers Combined; Bankers’ Indemnity; Travel.