UAE - Salama's profit down to AED 13.6m in Q1-20
Thursday, 05 28 2020, Category: Islamic Insurance, Country: U.A.E
Islamic Arab Insurance Company (Salama) reported AED 13.65 million in net profits attributable to shareholders in the first quarter of 2020, down by 8.7% from AED 14.96 million in the year-ago period.
Gross written contributions grew by 26% to AED 441 million in Q1-20 from AED 351 million in Q1-19, according to a statement to the Dubai Financial Market (DFM) on Wednesday.
The DFM-listed firm’s accumulated losses amounted to AED 363.2 million, representing 30% of its total capital of AED 1.210 billion.