SALAMA: Q1 2024 results

Salama insuranceIslamic Arab Insurance Company (SALAMA) closed the first quarter of 2024 with a takaful revenue of 271.47 million AED (73.9 million USD), up by 2.4% year-on-year.

Net profit at 31 March 2024 stood at 17.58 million AED (4.8 million USD), against 8.04 million AED (2.2 million USD) in the first quarter of 2023.

The company's assets and shareholders' equity amounted to 3.6 billion AED (980.1 million USD) and 634.46 million AED (172.7 million USD) respectively.

Since 2023, the Emirati insurer has been reporting its financial results in accordance with the new IFRS 17 standards.

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