UAE - SALAMA Islamic Arab ins. co. reports strong growth
Tuesday, 04 02 2019, Category: Islamic Insurance, Country: U.A.E
SALAMA Islamic Arab Insurance Company, one of the UAE’s largest and oldest Shari’ah compliant Takaful solutions provider, has reported financial results for the twelve-month period ending December 31, 2018.
Listed on the Dubai Financial Market and entering its fortieth year of operation, SALAMA has posted double-digit growth in 2018 despite the insurance companies listed on UAE stock exchanges reporting less than 1 per cent growth in written premium during the same period.
2018 witnessed year-on-year gross written premium in the UAE slowing to less than 1 per cent, a significant decline compared to the 12 per cent reported in 2017. In contrast to the market’s overall performance, SALAMA’s premium income increased by 30 per cent. The market-beating growth of the top-line, which reached Dh1.063bn in 2018, was bolstered by SALAMA’s effective distribution strategies, a company-wide focus on customer retention and increased efficiencies across its service offering to customers and partners. The company further reported underwriting income increased by Dh10m to Dh151m, highlighting SALAMA’s operational success.
As the region’s awareness of Shari’ah compliant insurance grows, the UAE’s Takaful industry has expanded. In 2018, SALAMA remained focused on its customers and partners, providing sustainable solutions that adhere to the highest ethical standards. SALAMA’s customers rely on the company to provide peace of mind at a fair price – and it delivers just that.
Source: Salaam Gateway