SALAMA reports net profit of AED45.27mn in 2022

Islamic Arab Insurance Company, listed as “SALAMA” on DFM, announced its preliminary results for the 2022 fiscal year.

SALAMA posted a net profit of AED 45.27 million in 2022, which was a result of the Company’s strategy to extend its leadership position in the UAE Takaful industry led by consistent growth in gross written contributions and prudent underwriting controls, as well as continuing investment in strategic partnerships.

SALAMA's gross written contributions for 2022 exceeded the billion mark with the Company achieving 1.12bn (2.8 percent growth) in GWC in 2022 with profits of 45.27 million.

Commenting on the preliminary results, Jassim Alseddiqi, SALAMA’s Chairman, said,

"As a leader in the UAE Takaful industry for over 43 years, we remain optimistic that SALAMA is well positioned for consistent and sustainable growth.”

News Source: Emirates News Agency