Gross written premium increased by 13.6% to Dh901m in Q3 2019 9-month year to Q3 Net profit increased by 15.78% to Dh34.9m Islamic Arab Insurance Company (“SALAMA”), listed on the Dubai Financial Market, has shown consistent growth in net profit over the last three quarters of 2019 and has reported 13.6% growth in gross contribution, […]
SALAMA 2019 half-year net profit increases 4.7% to AED 33.3m and calls for General Meeting to increase foreign ownership to 49% and GCC to 100%
Islamic Arab Insurance Company, listed as “SALAMA” on DFM, announced its interim results for the first six months of 2019 to June 30, 2019. Highlights: – Gross written premium (GWP) grew by 18.8% from AED 547m in H1 2018 to AED 650m in H1 2019. – Net profit reported for H1 2019 increased to AED […]
S&P Upgrades SALAMA’s Rating to BBB, maintains Stable outlook
Islamic Arab Insurance Company (“SALAMA”) welcomes Standard and Poor’s Global Ratings (“S&PGR”) move to upgrade the financial strength and issuer credit rating of SALAMA from ‘BBB-‘to ‘BBB’ with stable outlook. The rating reflects SALAMA’s position as the largest Sharia-compliant insurer in the UAE with ‘AAA’ level capital adequacy. SALAMA posted impressive revenue growth of 25% […]
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 […]
Established UAE Takaful Company Reports Significant Increase In Its Top-Line
SALAMA Islamic Arab Insurance Company, one of the UAE’s largest and oldest Shari’ah compliant Takaful solutions providers, has reported financial results for the twelve-month period ending December 31, 2018. Listed on the Dubai Financial Market and entering its fortieth year of operation, SALAMA has posted double-digit growth in 2018 despite the insurance companies listed on […]
Upgraded SALAMA/Islamic Arab Insurance’s ratings to “A-” with a stable outlook
Standard & Poor’s has raised to ‘A-‘, up from ‘BBB+’ the counterparty and insurer financial strength of Dubai based Islamic Arab Insurance as well as the core operating subsidiaries of its wholly owned Labuan-based reinsurance sub-group. The outlook is stable.The ratings principally reflect the Salama/IAIC group’s strong capitalization, strong consolidated business position, and now strong […]
SALAMA Group Commentary on the Consolidated Results For the 1st Qtr 2010
SALAMA achieved 28% growth in premiums in the first quarter of 2010 reaching AED 526 M vs. AED 411 for the same quarter last year. In general, performance and operating efficiency across all subsidiaries in Takaful operations have improved considerably and their net results are impressive, however these good results were hard hit by the […]
SALAMA Celebrates 30 Years of Success and Grabs 3 Prestigious Awards
Global award coincides with SALAMA’s 30th anniversary, recognizes unique Takaful products and solutions. SALAMA CEO Dr Saleh Malaikah honoured for Outstanding Contribution. SALAMA-Islamic Arab Insurance Co. (PSC), one of the region’s leading Islamic insurance (Takaful) companies, has won the ‘Best Takaful Provider’ award for 2009 from Global Finance magazine, the leading international financial publication headquartered […]
SALAMA Changes Trading Symbol at DFM
Dubai, July 22nd 2009 – The Islamic Arab Insurance Company, leading provider of Shari’ah compliant insurance solutions around the world has decided to change its trading symbol at the Dubai Financial Market from “IAIC” to “SALAMA”. “The move came as a natural result of the great success achieved by the name SALAMA in the UAE […]
Directors’ report and consolidated financial statements
Directors’ report and consolidated financial statements for the year ended 31 December 2008.