Salama has announced a significant financial milestone, with its first-half profit after tax surging to Dh28.3 million—more than triple the Dh8.2 million reported during the same period last year. This impressive growth, which includes a second consecutive profitable quarter of Dh14.3 million, reflects the company’s strategic shift toward underwriting discipline and tighter expense management. While insurance revenue saw a slight adjustment to Dh469.7 million, this was a deliberate choice by the firm to prioritize portfolio quality and profitability over pure volume growth.

The company’s underlying insurance service results also showed a remarkable turnaround, swinging to a Dh28.3 million gain from a loss of Dh1.9 million in the previous year. Bolstered by a successful capital restructuring, Salama has achieved a robust solvency ratio of 154 percent, positioning itself well above regulatory requirements. Group CEO Mohamed Ali Bouabane noted that the results validate the transformative measures implemented over the past 18 months, confirming that the business is now operating on a much more stable and integrated foundation as it pursues selective growth across its UAE, Egyptian, and Algerian markets.