SALAMA completes its share capital restructuring

Islamic Arab Insurance Company (SALAMA) has successfully completed its share capital restructuring program, aimed at restoring its financial strength.

In the first phase, the Emirati insurer reduced its share capital by 456 million AED (124.1 million USD). This transaction eliminated accumulated losses and aligned the company’s equity with its financial position.

The operation was followed by the issuance of Mandatory Convertible Sukuk (MCS) totaling 155 million AED (42.2 million USD) to strategic institutional investors, namely Eshraq Investments PJSC and Humana Holding Limited.