Salama Posts 74pc Revenue Growth

03/03/2009 00:00 AST

Salama-Islamic Arab Insurance, the Islamic insurance (Takaful) companies has recorded an increase of 74 per cent growth in the premium revenue in 2008.

Dr. Saleh Malaikah, Vice-Chairman & CEO of SALAMA said: "The premium growth in UAE can be attributed to the increasing awareness of the benefits of Shariah compliant insurance."

Meanwhile, the Takaful has made some key reorganisation in its top level management. The reorganisation is part of a major shake-up of the business as it registers increase in customer base and premium collection.

"This change is part of SALAMA's growth strategy to become a major player in the UAE market and a customer focused organisation. The reorganisation would provide us with a bigger part of a market that's still growing despite the shortfall of liquidity, while the new talent will bring fresh perspective into the boardroom", Malaikah said. Noel D'Mello said:" Its been lucky to have a professional and enthusiastic team supporting me and in my new role I plan to take the business to greater heights. My sincere thanks go out to the excellent Distribution Partners who support us in distributing the Family Takaful products across the UAE and I look forward to supporting them even more in my new role."

Khaleej Times

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Salama back in profit for Q1 2011

06/06/2011

Dubai-based Islamic Arab Insurance Company (Salama) reported net profit of AED 30.7 million ($8.36 million) for Q1 2011, a significant y-o-y and q-o-q improvement from a net loss of AED 4.4 million (

CPI Financial