Dubai, UAE–Islamic Arab Insurance Company, also known as Salama, has posted a net profit of $12.32 million in 2022.
The company attributed the result to its strategy to extend its leadership position in the UAE Takaful industry.
Salama said that it has achieved consistent growth in gross written contributions and prudent underwriting controls, as well as continuing investment in strategic partnerships.
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The company’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.”
