Salama (company)

Islamic Arab Insurance Company (Arabic: الشركة الإسلامية العربية للتأمين) commonly known as Salama, سلامة is a takaful company based in Dubai, United Arab Emirates. The company and its subsidiaries operate in the UAE, Algeria, Egypt, Senegal, and Saudi Arabia.[2]

Islamic Arab Insurance Company (Salama)
TypePublic
DFM: SALAMA
Industry
Founded29 April 1979 (1979-04-29)
Headquarters
Spectrum Building
Oud Metha, Dubai
,
United Arab Emirates
Key people
  • Sheikh Khaled bin Zayed Al Nahyan (Chairman)
  • Saleh J. Malaikah (Vice Chairman & CEO)
Products
  • Family takaful
  • General takaful
RevenueDecrease AED 0,731 million (2014)[1]
Increase AED 00,37 million (2014)[1]
Total assetsDecrease AED 3,592 million (2014)[1]
Total equityIncrease AED 1,173 million (2014)[1]
Websitewww.salama.ae

Salama was founded in 1979 and listed on the Dubai Financial Market.[3] It is one of the leading takaful companies in the region, offering products in family and general takaful.[4] Its subsidiary, Best Re, is one of the largest retakaful companies in the world.[5][6]

The company won Best Takaful Company (Middle East) at the 2012 International Takaful Awards.[7]

Salama specializes in Sharia-compliant insurance products designed to meet the needs of Muslim customers who want insurance coverage that aligns with their religious beliefs. Sharia-compliant insurance, also known as takaful,[8] operates on the principle of mutual cooperation and shared risk among policyholders, and is structured in a way that avoids charging interest or engaging in speculative investments.

References
  1. Annual Report 2014 (pdf), Islamic Arab Insurance Company, 2014-12-31, retrieved 2015-08-28
  2. "TEXT-S&P affirms Salama/Islamic Arab Insurance Co. and BEST RE rtgs". Standard & Poor's. 2012-12-21. Retrieved 2015-08-28.
  3. "Islamic Arab Insurance Company". Arabian Business. Retrieved 2015-08-28.
  4. "Salama marks 30 years of excellence, December 2009". AMEinfo.com. 2009-12-01. Retrieved 2015-08-28.
  5. "GCC nationals can now own shares of SALAMA". Khaleej Times. 2006-02-14. Retrieved 2015-08-28.
  6. Al Sayegh, Hadeel (2013-07-05). "UAE Islamic insurance providers issue warning as losses pile high". The National. Retrieved 2015-08-28.
  7. "The Premier Takaful Gathering of the Year" (PDF). The International Takaful Summit. 2012-07-18. Retrieved 2015-08-28.
  8. "What is Takaful".
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