The company's Q1 profits hit their highest levels in 10 years, driven by the benefit of strategic focus on core profitability and investment income.
The company's gross written premiums maintained at AED 427.55 million in Q1-21, despite the challenging macroeconomic conditions.
In addition, the company's accumulated losses declined to AED 286.67 million, versus AED 308.05 million as of 31 December 2020.
Commenting on the company's performance, Salama's Chairman, Jassim Alseddiqi, said: "Salama is well-positioned to accelerate this growth trajectory and create sustainable, long-term value for our policyholders and shareholders."
Meanwhile, the CEO of Salama, Fahim AlShehhi, remarked: "Our digital transformation efforts are aimed at improving our bottom line and taking the customer experience to a new level. We are very pleased with how this is unfolding."
It is noteworthy to mention that in 2020, the company showed an increase in net profits attributable to the shareholders to AED 149.368 million, compared to AED 55.038 million in 2019.