Islamic Arab Insurance Company (SALAMA) Reports 9% Growth in Q1 2019 Profit

• Gross written premium increased by 25% to Dh358m in Q1 2019
• Net profit increased by 9% to Dh18m in Q1 2019

Islamic Arab Insurance Company (“SALAMA”), one of the UAE’s largest Takaful solutions provider, has reported 25% growth in gross contribution, attributing to a total of Dh358m in gross contribution for Q1 -2019 versus Dh286m in Q1-2018.

Listed on the Dubai Financial Market and entering its fortieth year of operation, SALAMA’s Net Profit reached Dh18m marking an increase of 9% as compared to Dh16.5m for the same period last year.

Commenting on the results, SALAMA’s Managing Director Mr. Mustafa Kheriba said, “SALAMA has been prudent with its performance and effective in its distribution strategies, with key focus on service offering and customer experience. We are off to a good start in 2019 and are confident to continue the growth momentum, as we keep our commitment to innovation, strong leadership and operational excellence”.

Mr. Kheriba also added “SALAMA is poised to facilitate Takaful growth and expansion in the region, providing sustainable solutions that adhere to the highest ethical standards. We prudently manage risk and keep strong underwriting controls and checks to ensure our customers enjoys peace of mind at a fair price”.

SALAMA serves individual customers and institutions in the UAE, Saudi Arabia, Egypt, Jordan, Algeria and Senegal through its extensive network of subsidiaries and associates. The company offers a comprehensive range of family, motor, general and health Takaful solutions.