DUBAI — Salama Islamic Arab Insurance Co. (IAIC), the largest Islamic insurance (takaful and retakaful) operator in the world, has disclosed profits of Dh150 million for 2007. This was revealed in a disclosure made by the company to the Dubai Financial Market yesterday.
Salama also disclosed that its takaful premium revenue reached Dh930 million at the end of 2007 compared to Dh657 million at the end of 2006, an increase of Dh273 million representing a 41 per cent jump over 2006 revenue.
Shaikh Khalid bin Zayed bin Sagr Al Nahayan, Chairman of Salama said: "Our company has had a distinguished performance since its shares were listed for trade on the Dubai stock exchange one year ago. We have also attained an A- Rating from AM BEST. In addition, we have fully acquired the total equity of BEST Re, the largest re-takaful company in the world. These steps have contributed to expanding our geographic presence to include North Africa, especially Egypt, Algeria, Senegal and Tunisia and last but not least Saudi Arabia where the IPO for Saudi Salama has been very successful and the company finally resumed its operations." |
