SALAMA: 2022 results

Islamic Arab Insurance Company (SALAMA) 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.