Latest news with #SalamaDFM
Mid East Info
a day ago
- Business
- Mid East Info
Salama Announces Robust H1 2025 Performance Driven by Profitability and Equity Growth
Dubai, August , 2025 – Salama DFM: 'SALAMA', a leading regional Takaful provider, today announced its interim consolidated financial results for the six-month period ended June 30, 2025. The Company reported a positive profit in the first six months of 2025 and continued strengthening of its balance sheet, driven by a significant rebound in profitability during the second quarter of 2025. Net profit for the period stands at AED 8.25 million, demonstrating continued profitability and positive operational momentum, driven by AED 7.86 million profit in Q2 2025, a substantial increase from AED 2.95 million in Q2 2024. Takaful revenue was recorded at AED 515.36 million in the first six months of 2025, compared to AED 528.59 million in the same period in 2024. Total Equity increased by 5.2 percent to AED 351.84 million as of June 30, 2025, from AED 334.38 million as of December 31, 2024, driven by profit generation and a reduction in accumulated losses to AED 440.68 million by June 30, 2025 from AED 443.86 million by the end of 2024. Bank balances and cash significantly improved to AED 214.44 million from AED 148.77 million at year-end 2024, reflecting robust cash management. Takaful service expenses saw a significant reduction, aligning with the Company's commitment to operational efficiency. Total comprehensive income further improved to AED 19.57 million, compared to a loss of AED 19.7 million in the same period in 2024, reflecting improving economic conditions in key markets and positive foreign currency adjustments at the subsidiary level. H.E. Fahad AlQassim, Chairman of Salama, stated: 'Salama has demonstrated improved equity, enhanced liquidity and better solvency in the first six months of 2025, underscored by significant quarter-on-quarter increase in performance. As we continue to strengthen our balance sheet, we remain focused on our ongoing efforts in streamlining Salama's next phase of growth. At Salama our initiatives are centred on building a more resilient foundation that enhances development of the economy, empowers our customers and delivers meaningful impact to society, aligning with the UAE's progressive vision.' Mohamed Ali Boubane, Group Chief Executive Officer at Salama, said: 'We are pleased to report a strong performance in the second quarter of 2025 for Salama, which has significantly contributed to our overall profitability for the first half of the year. Our strategic focus on operational efficiency and prudent financial management is yielding positive results, underpinned by the substantial increase in our cash reserves and continue to strengthen of our equity base. We remain committed to delivering excellence in customer-centric products, innovating our Takaful offerings, and upholding our promise to policyholders and shareholders. The positive momentum positions us well for the remainder of the year as we continue to navigate the market with agility, disciplined underwriting, digital innovation, and strategic foresight to further solidify Salama's position as a regional Takaful leader.' As one of the world's largest and longest-established Takaful providers, Salama is committed to increasing access to Shariah-compliant insurance solutions in the region to create enduring value for customers. Recently, the Company collaborated with to increase life insurance penetration in the UAE over digital channels. Salama's long-term issuer credit and insurer financial strength rating was affirmed at 'BBB-' by S&P Global Ratings with a Developing outlook. About Salama Islamic Arab Insurance Company: Salama Islamic Arab Insurance Company (Salama) is one of the world's largest and longest-established Shariah-compliant Takaful solutions providers listed on the Dubai Financial Market, with paid-up capital of AED 939 million. Since its incorporation in 1979, Salama has been a pioneer in the Takaful industry, having won many industry awards and accolades. Salama's stability and success can be attributed to its customer-centric approach that keeps its customers and partners at the heart of the business, while staying committed to its Takaful principles. The company is recognised for providing the most competitive and diverse range of family, motor, general and health Takaful solutions that meet the ever-changing demand of its individual and corporate customers in the UAE and, through its extensive network of subsidiaries and associates, in Egypt and Algeria. As the preferred Takaful provider for its partners and customers, Salama remains committed to shaping tomorrows, together.
Mid East Info
2 days ago
- Business
- Mid East Info
Salama Announces Robust H1 2025 Performance Driven by Profitability and Equity Growth - Middle East Business News and Information
Dubai, August , 2025 – Salama DFM: 'SALAMA', a leading regional Takaful provider, today announced its interim consolidated financial results for the six-month period ended June 30, 2025. The Company reported a positive profit in the first six months of 2025 and continued strengthening of its balance sheet, driven by a significant rebound in profitability during the second quarter of 2025. Net profit for the period stands at AED 8.25 million, demonstrating continued profitability and positive operational momentum, driven by AED 7.86 million profit in Q2 2025, a substantial increase from AED 2.95 million in Q2 2024. Takaful revenue was recorded at AED 515.36 million in the first six months of 2025, compared to AED 528.59 million in the same period in 2024. Total Equity increased by 5.2 percent to AED 351.84 million as of June 30, 2025, from AED 334.38 million as of December 31, 2024, driven by profit generation and a reduction in accumulated losses to AED 440.68 million by June 30, 2025 from AED 443.86 million by the end of 2024. Bank balances and cash significantly improved to AED 214.44 million from AED 148.77 million at year-end 2024, reflecting robust cash management. Takaful service expenses saw a significant reduction, aligning with the Company's commitment to operational efficiency. Total comprehensive income further improved to AED 19.57 million, compared to a loss of AED 19.7 million in the same period in 2024, reflecting improving economic conditions in key markets and positive foreign currency adjustments at the subsidiary level. H.E. Fahad AlQassim, Chairman of Salama, stated: 'Salama has demonstrated improved equity, enhanced liquidity and better solvency in the first six months of 2025, underscored by significant quarter-on-quarter increase in performance. As we continue to strengthen our balance sheet, we remain focused on our ongoing efforts in streamlining Salama's next phase of growth. At Salama our initiatives are centred on building a more resilient foundation that enhances development of the economy, empowers our customers and delivers meaningful impact to society, aligning with the UAE's progressive vision.' Mohamed Ali Boubane, Group Chief Executive Officer at Salama, said: 'We are pleased to report a strong performance in the second quarter of 2025 for Salama, which has significantly contributed to our overall profitability for the first half of the year. Our strategic focus on operational efficiency and prudent financial management is yielding positive results, underpinned by the substantial increase in our cash reserves and continue to strengthen of our equity base. We remain committed to delivering excellence in customer-centric products, innovating our Takaful offerings, and upholding our promise to policyholders and shareholders. The positive momentum positions us well for the remainder of the year as we continue to navigate the market with agility, disciplined underwriting, digital innovation, and strategic foresight to further solidify Salama's position as a regional Takaful leader.' As one of the world's largest and longest-established Takaful providers, Salama is committed to increasing access to Shariah-compliant insurance solutions in the region to create enduring value for customers. Recently, the Company collaborated with to increase life insurance penetration in the UAE over digital channels. Salama's long-term issuer credit and insurer financial strength rating was affirmed at 'BBB-' by S&P Global Ratings with a Developing outlook. About Salama Islamic Arab Insurance Company: Salama Islamic Arab Insurance Company (Salama) is one of the world's largest and longest-established Shariah-compliant Takaful solutions providers listed on the Dubai Financial Market, with paid-up capital of AED 939 million. Since its incorporation in 1979, Salama has been a pioneer in the Takaful industry, having won many industry awards and accolades. Salama's stability and success can be attributed to its customer-centric approach that keeps its customers and partners at the heart of the business, while staying committed to its Takaful principles. The company is recognised for providing the most competitive and diverse range of family, motor, general and health Takaful solutions that meet the ever-changing demand of its individual and corporate customers in the UAE and, through its extensive network of subsidiaries and associates, in Egypt and Algeria. As the preferred Takaful provider for its partners and customers, Salama remains committed to shaping tomorrows, together.
