Islamic Arab Insurance Company (Salama) PJSC announced strong financial results for the first quarter of 2026, marking a significant step in the company’s ongoing transformation and recovery efforts.
After successfully completing its recent capital raise, which received strong investor and market support, SALAMA recorded one of its best quarterly performances in recent years. Net profit for Q1 2026 climbed to AED14 million, compared with AED0.5 million during the same period last year, while full-year profit for FY2025 stood at AED11 million. The company’s solvency ratio also rose sharply from 76 per cent at the end of 2025 to 159 per cent following the capital increase, strengthening its regulatory capital position and overall balance sheet.
Insurance revenue for Q1 2026 reached AED229.5 million, down from AED256.4 million in the corresponding quarter of 2025. The decline reflects SALAMA’s strategic emphasis on underwriting profitability and long-term value generation rather than pursuing growth through higher volumes.
Mohamed Ali Bouabane, Group Chief Executive Officer of SALAMA, said the company’s first-quarter results highlight the positive outcomes of its strategic decisions. He noted that the AED14 million profit, improved solvency ratio of 159 per cent, and stronger equity base demonstrate the effectiveness of the company’s transformation plan.
Bouabane added that SALAMA’s next phase will centre on sustainable growth by improving underwriting performance, reinforcing its market presence, and creating a resilient platform capable of delivering high-quality earnings for shareholders, policyholders, and business partners.
