Abu Dhabi. October 21, 2007. Salama-Islamic Arab Insurance Company is pleased to associate itself with Abu Dhabi Cricket Club (ADCC) and the cricketing fraternity, and to sponsor the Salama Insurance Trophy. On this historic occasion, Mr. Parvaiz Siddiq, General Manager of Salama, UAE said “Salama is extremely delighted with its partnership with ADCC and with […]
SALAMA Profit for Second Quarter 2007 reach AED 33.6 Million Premiums Rise By 50%
SALAMA (IAIC) of UAE announced that its interim net profits for the second quarter of 2007 AED 33.6 million compared to AED 32.0 million for the same quarter 2006, at a growth rate of 5% over last year’s figures. The volume of insurance premiums in the first half of 2007 reached AED 462 million compared […]
A.M Best Upgrades SALAMA’s Financial Strength and Credit Ratings.
Dubai, January 7, 2008 : SALAMA (Islamic Arab Insurance Company), the world’s largest Takaful and Re-Takaful provider, today announced that A.M Best has upgraded the insurer’s FSR (Financial Strength Ratings) to A-(Excellent) from B++ (Good) and upgraded the ICR (issuer credit ratings) to “a-“ from “bbb+”. The outlook for both ratings remains stable. The upgraded rating included […]
40% of Saudi IAIC from March 17 to 26
Salama (IAIC) Owns 30% of Saudi IAIC Capital Saudi Insurance Market to Reach SR 15 Billion Annually The Saudi Capital Markets Authority (CMA) announced its approval to float 40% of Saudi IAIC Co for Cooperative Insurance in an IPO during the period from March 17 to 26, 2007. among a group of five cooperative insurance companies. […]
SALAMA SHARE BUY BACK
The Board of Directors of SALAMA, largest Takaful and Re-Takaful Company, met today to discuss the financial for year ended on 31st Dec 2006. Board of Directors expressed satisfaction on the performance of the Company. The underwriting profit of AED 82.5 million represents strong operating performance of the company compared to AED 75.3 million for […]
“SALAMA” Islamic Arab Insurance Co (IAIC) Makes AED 181 Million Profits by the End of 2006
Profits Represent 65% Increase Over Last Year’s SALALMA” Islamic Arab Insurance Co. (IAIC), the largest Islamic insurance (takaful and retakaful) operator in the world, has achieved new record profits by the end of 2006. The achieved profits represent a 65% increase over those of 2005. This was revealed in the profits disclosure statement submitted today […]
SALAMA IAIC Profits AED 101 Million for the First Half of 2006
SALAMA, the Islamic Arab Insurance Company (IAIC), the largest Takaful (Islamic Insurance) company in the world, has achieved AED 101 million profits for the first half of 2006, exceeding the expected profits for the entire year as announced by the company one year ago in the placement memorandum for raising the company’s capital to AED […]
SALAMA to Open Up Shareholding to Foreign Investors
In line with UAE policy to open up its economy to foreign investors, SALAMA Islamic Arab Insurance Company’s board of directors has resolved to recommend to the shareholders’ Extra-Ordinary General Assembly to open up shareholding to foreign nationals for up to 25% of the company’s issued shares. “The Board’s resolution is in response to the […]
SALAMA Consolidates its Holding in Best-Re
SALAMA, Islamic Arab Insurance Company, the world’s largest Takaful and Re-Takaful company, has increased its shareholding in BEST-Re, the world’s largest Re-Takaful company, from 60% to 100%. Sheikh Khaled bin Zayed bin Saqr al Nahyan, Chairman, SALAMA, Islamic Arab Insurance Company said, “The consolidation of shareholding in BEST-Re further supports SALAMA’s aggressive expansion plans into […]
SALAMA launches Health Takaful in UAE
Signals Start of AED 165m Market Expansion SALAMA Islamic Arab Insurance Company, the worlds largest Takaful and Re-Takaful provider, has launched Health Takaful in the United Arab Emirates, the start of an AED 165 million expansion of its insurance products base in the emirates that will help drive future profitability. The launch follows the signing […]