ESTABLISHED IN 1985

Leading Insurer of Maldives

Our goal is to be an exceptional employer, excellent partner, and a good corporate citizen.
We are also committed to nation-building and protecting our planet.

We are dedicated to provide you
with quality insurance where
it is needed most.

In 1985, Allied Insurance Company of the Maldives started off as a joint venture between Commercial Union Assurance Company, UK and State Trading Organization (STO), the nationwide leader of all commercial activities in Maldives. In early 1987, STO bought back shares of Commercial Union Assurance chartering Allied Insurance to continue doing the business as a subsidiary of the organization.

Today with a local management, the company is one of the largest financial institutes and the most prominent insurance brand contributing to the growth and development of the country. Allied has had tremendous growth over the past decades, both in terms of the volume and business profitability.

Our customers are well spread across the geographical divides of the tiny island nation. From the fisherman who owns small fishing boats to the major resort operators, our clients are varied in their trades and in their size.

Having gathered and recognized the experience of the local market, developing professionalism and expertise in the field, we are poised to play a responsible role in the development of the insurance industry in Maldives and its economy as a whole.

Our Vision

The preferred market-responsive insurer, providing diversified services in the Maldives and beyond.

Our Mission

Leveraging the expertise and innovative technology to provide dynamic and customized solutions
Empowering vision-driven, committed and interdependent teams
Establishing and maintaining strong stakeholder and community relations at all times

Our Values

Drive to Excel, <br>Always
Drive to Excel,
Always
We will lead with our strive for innovation and vigor for continuous improvement in our services.
Customer centric<br>in all endeavors
Customer centric
in all endeavors
Our services will mirror the changing needs of the customer and always provide superior value building loyalty and trust.
Reliable, all the way
Reliable, all the way
Reliability is our inbuilt promise and assurance to our customers and the comfort to our stakeholders.
Every employee counts
Every employee counts
We invest in our employees as our most prized asset and their contribution and ideas are central in strengthening our brand.
Make a difference<br> in people’s lives
Make a difference
in people’s lives
We want to succeed together with our customers and stakeholders, we shall make a positive difference on the well being of our society and community.

Awards & Recognitions

We innovate to improve. See our achievements as a national leader, great employer, and corporate citizen

MBA 1
MBA 2
MBA 3
MBA 4
MBA 5
iFFSA

Organizational Structure

Key Milestones

1985

Founded in 1985
Established as a joint venture between Commercial Union Assurance Company, UK and State Trading Organization
1985

1989

Paid First Major Cargo Claim
Paid the the company’s first major cargo total loss claim for the loss of cargo during the hijacking of ‘Progress Light’,on November 03, 1988.
1989

1992

First Reinsurance Brokerage & Treaty Agreement
Signed the very first official re-insurance brokerage and treaty agreement with JB Boda Group of India.
1992

1993

Paid First Major Fire Claim
Paid the first major fire claim for the fire incident at Fihaalhohi Island Resort on new year’s eve.
1993

1993

The First Company Training Strategies
Formulated and implemented the first training strategy of the company. The leading local insurance experts in the country were trained under this initiative.
1993

2005

The 2004 Tsunami Claims
Paid claims of total USD 22 Million for the damages of the 2004 Indian Ocean Tsunami.
2005

2008

Madhana Operations
The social health insurance scheme ‘Madhana’ operated by Allied Insurance Company from inception in 2008 until the formation of Aasandha in 2012.
2008

2008

Intoduction of Life Insurance
Introduction of Life Insurance Services to the Maldives.
2008

2008

Nation’s First Regional Insurance Office
Opening of the first regional insurance office of Maldives in Addu City.
2008

2011

First International Insurance Conference
Allied Insurance company co-hosted the first International Insurance Conference in the Maldives in 2011, in collaboration with Federation of Afro-Asian Insurers and Re-insurers (FAIR).
2011

2012

Aasandha Operations
The universal health insurance scheme ‘Aasandha’ was launched and successfully operated and managed by Allied Insurance Company till end of February 2015.
2012

2014

Launch of Allied Islamic Window – Ayady Takaful
Introduction of Allied Islamic Window ‘Ayady Takaful’ to prvide takaful services to the Maldives.
2014

2014

Maldives First Insurance eCommerce Service
Launch of the country’s first insurance e-commerce platform in 2014, making insurance services available online. Additional features such as connecting hospitals, clinics and services providers under one network was also implemented during this period.
2014

2015

Facilitation of Bancassurance Services
Partnership with Bank of Maldives to facilititate Bancassurance services in 2015 which has made the company’s insurance services accessible from the various branch offices of the bank throughout the Maldives.
2015

2016

Family Takaful – The first shariah’s compliant life insurance services

Launch of Family Takaful Plans providing the first sharia’h compliant life insurance services in Maldives.

2016

2016

Launch of Allied Mobile App
Launch of Allied Mobile App.
2016

2017

Launch of E-Stickers
Introduction of E-Stickers for Third Party Motor Insurance
2017

2018

Introduction of Allied Customer Portal ‘MyAllied’
Introduction of Allied Customer Portal ‘MyAllied’ for customers to manage their insurance activities.
2018

2018

Launch of Agent 1600
Launch of Agent 1600, the first of its kind artificial intelligence insurance chat bot service in the Maldives.
2018

2018

Launch of Premium for Good – CSR Initiatives
Rebranding of CSR initiatives under the brand strategy ‘Premium for Good’and introduced the Community Development Hub initiative and Green for Good campaign streamlining its policies towards sustainability and contributing towards the UNDP Sustainable Development Goals of 2030.
2018

2018

Maldives First Employee Hackathon – Idea Camp
Introduction of the first corporate employee hackathon of Maldives, the Idea Camp which invites employees to participate and submit their innovative ideas for the growth of the company.
2018

2019

Co-hosted the FAIR Medical Insurance

Co-hosted the International FAIR Medical Insurance and Health Congress.

2019

2019

Launch of “Green For Good”
New pledges under CSR initiative “Green for Good” to reduce environmental impact and raise awareness in the workplace towards sustainability
2019

2020

Launch of Maldives Covid-19 Insurance Plan

Launch of Allied Inbound – The Maldives Covid-19 Insurance Plan

2020

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