About Salama Cooperative Insurance CompanyLast updated on: 28 May 2020

Business Summary

Provides Islamic non-life insurance and reinsurance services.

Country of Incorporation

Saudi Arabia

Ownership Type

Publicly Listed

Established In

2007

Primary Sector

Financial Services

Number of Employees

370

Stock Listing

ID	Stock Type	Currency	Exchange	Symbol
8050.SSE	Ordinary	SAR	Saudi SE	8050

Contact details

Primary address

Building: Salama Cooperative Insurance Company Tower
Street: Madina Street
Floor: 12th Floor
P.O. Box: 4020
Country: Saudi Arabia
City: Jeddah
City Suffix: 21491

CONTACT

Tel: +966 12-684-5666
Fax: +966 12-697-0470
Email: info@salama.com.sa
www.salama.com.sa

Region

Makkah

Latest News

Salama earns $10.62mln profits from selling shares in Saudi company

The financial impact will be registered in Salama's financial results in Q3-20

Mubasher - 01 Sep 2020

Dubai's Salama sold 4.5mln shares for $17mln in one week

Sale to boost takaful provider's profits in third quarter

ZAWYA - 31 Aug 2020

Saudi's Abdul Latif Jameel Land breaks ground on Dari Q

The project is located in the Al-Salama district of North Jeddah

Arab News - 17 Jun 2019

Shada Hospitality unveils new Jeddah hotel

Shada Executive Al Salama features 88 hotel rooms and specialises in being a destination that caters to both youth and businessmen.

TradeArabia - 08 May 2019

16 Saudi insurance firms log millions in losses in 2018

Walaa Cooperative Insurance logged a net profit of SAR 100.37m in 2018

Mubasher - 31 Mar 2019

More

SALAMA's net profit for first 9 months surges 392% to AED 137.06m

Gross written premium increased by 7.5%, from AED 883m in first nine months of 2019 to AED 949m for same period this year, despite challenges of the COVID-19 pandemic

Press Release - 12 Nov 2020

SALAMA announces AED11.5 million surplus distribution to Takaful policyholders for 2019

Surplus sharing is a unique benefit of the Takaful concept of insurance in comparison to conventional insurance, which not only protects policyholders against unforeseen circumstances but also qualifies them for a share in the achieved surplus of the fund without any investment in capital, if the claim remains below a certain level.

Press Release - 17 Aug 2020

Alandalus Property reports 35% growth in net profit for FY 2019

FY 2019 revenue increased by 6.9% to SAR 176.1 million compared to SAR 164.7 million in FY 2018

Press Release - 01 Mar 2020

Islamic Arab Insurance Company (SALAMA) reports 15.7% increase in 9-month 2019 net profit

Gross written premium increased by 13.6% to Dh901m in Q3 2019

Press Release - 11 Nov 2019

SALAMA 2019 half-year net profit increases 4.7%

Calls for General Meeting to increase foreign ownership to 49% and GCC to 100%

Press Release - 08 Aug 2019

All Press Releases

KPMG: Saudi banks on the journey of customer endurance based on strong capital and liquidity base

The report states that the Saudi banking sector in the third quarter of 2020 experienced a range of regulatory changes, including the value-added tax (VAT) reforms and the institutionalization of the real estate transaction tax (RETT), with mortgage finance continuing to record significant growth

Press Release - Tuesday 1 December 2020

Insurer Axa eyes more disposals as it seeks to boost returns

The French company has been gradually exiting areas where it lacks scale

Reuters News - Tuesday 1 December 2020

Tax breaks to spur bank mergers open rift in Italy's coalition

Treasury pressing ahead with plans to privatise Monte Paschi

Reuters News - Tuesday 1 December 2020

'Big shoes to fill': UniCredit shares tumble as CEO Mustier quits

Italy has been seeking buyer for Monte dei Paschi

Reuters News - Tuesday 1 December 2020

HSBC increases stake in Saudi British Bank to 31% - statement

It said the stake increase followed the participation in an accelerated book build process launched on Nov. 30 by NatWest Markets and Banco Santander

Reuters News - Tuesday 1 December 2020

All Financial Services News

Arabtec Holding to file application for insolvent liquidation

The Board has concluded that it is no longer tenable for the Company to continue operating outside of a formal insolvency process and that it is in the best interests of the Company’s stakeholders that the Company be placed into an insolvent liquidation (subject to court approval) at the earliest opportunity

WAM (Emirates News Agency) - 1 day ago

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Investor	Holding	No. of Shares	Last Update

Investor	Holding	No. of Shares	Last Update

Stocks	Last Price	% Change
NATIONAL COM BNK	42.850 SAR	1.42
ASSIR TRADING	17.140 SAR	6.86
AL JAZIRA BANK	13.740 SAR	0.15
SAUDI INV BANK	16.180 SAR	-0.61
ARAB BANK	20.360 SAR	-0.20
SAMBA FIN GROUP	30.500 SAR	-1.29

Salama Cooperative Insurance Company (8050.SE)

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About Salama Cooperative Insurance CompanyLast updated on: 28 May 2020

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