Islamic Arab Insurance Company (SALAMA): remarkable increase in 2019 profits

SALAMASALAMA reported a turnover of 1.13 billion AED (307.7 million USD) compared to 1.06 billion AED (288.6 million USD) in the previous year, that is a 6.3% increase.

The net result amounted to 55 million AED (14.9 million USD) against 2 million AED (544 566 USD) in 2018, that is 27.5 times higher than the one reported in 2018. The technical result and investment income rose by 21% and 87% respectively in 2019 to 183 million AED (49.8 million USD) and 23.3 million AED (6.3 million USD).

For their part, SALAMA's management costs fell by 8% in one year to stand at 117 million AED (31.9 million USD) in 2019. This good performance is accounted for by the effective strategies and the rigorous controls implemented by SALAMA's new board of directors.

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