20 Hrs
Source:
الاقتصادية
Salama boosts profits despite lower revenues
The results of Al Salama Insurance Company for the first half of 2026 revealed a significant shift in its strategy. Revenue decreased from 515.4 million AED to 469.7 million AED, while net profit after tax rose to 28.3 million AED—more than triple the first half of 2025, which amounted to 8.2 million AED. This transformation reflects the company's focus on enhancing portfolio quality by tightening underwriting standards and reassessing risk, leading to a reduced reliance on growth through increased business volume and a greater emphasis on achieving sustainable profits. Additionally, the insurance services segment, which directly reflects the performance of the insurance operations, increased to 28.3 million AED from a loss of 1.9 million AED in the previous year. This indicates the success of its strategy in improving the profitability of its operations. Despite the decline in revenue, the first-half results underscore the close link between improving portfolio quality and delivering higher profits, as the company prepares to resume growth while maintaining strict underwriting standards and benefiting from its strong capital position, with a solvency ratio of 154%.
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