Islamic Arab Insurance Company (SALAMA [4]) has released its financial statements as at 31 December 2022. At that date, the turnover has reached 1.12 billion AED (304.9 million USD), which represents a 2.8% increase over one year.
The annual net profit has declined by 11.9% to 42.462 million AED (11.6 million USD) against the 48.173 million AED (13.1 million USD) recorded at the end of 2021.
The Emirati insurer is currently reducing its share capital from 1 210 million AED (329.4 million USD) to 939.59 million AED (255.8 million USD). The operation is expected to be finalized in H1 2023.