SALAMA 9M profit to shareholders rises to AED 44.8 million
Islamic Arab Insurance Company reported nine-month profit attributable to shareholders of AED 44.8 million, compared with AED 6.5 million a year earlier.
Islamic Arab Insurance Company (SALAMA) reported nine-month 2026 profit attributable to shareholders of AED 44.8 million, compared with AED 6.5 million a year earlier, with earnings per share of AED 0.066 versus AED 0.007, according to its unaudited financial statements filed on the DFM.
- Nine-month profit attributable to shareholders was AED 44.8 million, compared with AED 6.5 million.
- Earnings per share were AED 0.066, compared with AED 0.007.
- Takaful revenue was AED 718,449 thousand, compared with AED 768,713 thousand.
- Third-quarter profit attributable to shareholders was AED 18,080 thousand, compared with AED 804 thousand.
- Share capital rose from AED 483.0 million to AED 820.0 million through the conversion of Mandatory Convertible Sukuk.
Islamic Arab Insurance Company (SALAMA) reported profit attributable to shareholders of AED 44.8 million for the nine months to 30 September 2026, compared with AED 6.5 million a year earlier, according to its financial statements filed on the Dubai Financial Market. Earnings per share were AED 0.066, compared with AED 0.007.
What happened
Takaful revenue for the nine months was AED 718,449 thousand, compared with AED 768,713 thousand a year earlier, while the takaful service result was AED 66,891 thousand, compared with AED 3,006 thousand. The net investment result was AED 142,175 thousand, compared with AED 156,243 thousand.
Profit before tax was AED 59,891 thousand, compared with AED 17,867 thousand, and profit for the period was AED 50,670 thousand, compared with AED 11,064 thousand.
In the third quarter, profit attributable to shareholders was AED 18,080 thousand, compared with AED 804 thousand a year earlier.
The interim condensed consolidated financial statements are unaudited and were reviewed by EY, which issued a clean review conclusion under IAS 34. The board approved the statements by circulation on 3 November 2026.
Why it matters
Share capital rose from AED 483.0 million to AED 820.0 million through the conversion of Mandatory Convertible Sukuk into 336,956,521 shares at AED 0.46 per share, according to the statements. The balance sheet showed retained earnings of AED 19,445 thousand at 30 September 2026, compared with accumulated losses of AED 18,818 thousand at 31 December 2025.
Who is exposed
Total equity was AED 546,104 thousand at 30 September 2026, compared with AED 360,024 thousand at 31 December 2025, and equity attributable to owners was AED 481,942 thousand, compared with AED 300,035 thousand. Total assets were AED 3,330,978 thousand, compared with AED 3,236,142 thousand.