SALAMA H1 profit more than triples to Dh28.3 million
Dubai: Islamic Arab Insurance Company, SALAMA, reported profit after tax of Dh28.3 million for the first half of 2026, more than three times the Dh8.2 million recorded in the same period last year. Get updated faster and for FREE: Download the Gulf News app now - simply click here. The insurer also delivered a second consecutive profitable quarter, with profit after tax reaching Dh14.3 million in…
Dubai-based Islamic Arab Insurance Company, SALAMA, announced a significant jump in its profit for the first half of 2026, more than tripling to Dh28.3 million. This represents a remarkable turnaround from a loss of Dh1.9 million in the same period last year. The insurer's Insurance Service Result reached Dh28.3 million in H1 2026, up from Dh14.3 million in the second quarter, compared to Dh8.2 million a year earlier.
Insurance revenue totaled Dh469.7 million for the six months ended June 30, down from Dh515.4 million in the same period last year. The improvement in core insurance performance was attributed to stronger underwriting discipline, portfolio optimization, pricing actions, and tighter expense management. SALAMA's solvency ratio stood at 154% as of June 30, exceeding regulatory requirements following a capital raise and reduction completed during the first half of 2026.
Chairman Humaid Mohammad Obaid Alqutami highlighted the progress in strengthening the company's financial position and building a business for sustainable long-term value.
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