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Salama Cooperative Insurance Company JSC (Saudi Arabia)

Main Activities: Direct Life, Health, and Medical Insurance Carriers | Direct Insurance (except Life, Health, and Medical) Carriers
Full name: Salama Cooperative Insurance Company JSC Profile Updated: March 13, 2024
Buy our report for this company USD 29.95 Most recent financial data: 2022 Available in: English Download a sample report

Saudi Cooperative Insurance Company (Salama) is a Saudi Arabia-based company established on 1979 in Dubai and it was approved as a public listed company in the Kingdom of Saudi Arabia after the release of a royal decree in October 2006. The company operates in the insurance and reinsurance sectors. The Company is engaged in the provision of cooperative insurance solutions in compliance with Islamic Sharia (Takaful) principles. It serves both individual and institutional customers through six direct Takaful companies in the United Arab Emirates, Saudi Arabia, Egypt, Senegal, Algeria and Jordan, in addition to Re-Takaful Company located in Tunis. Salama insurance products are structured into three divisions, namely Motor Takaful, Health Takaful and General Takaful. Motor Takaful provides comprehensive and third party liability motor solutions. Health Takaful offers group and individual health insurance solutions. General Takaful covers fire and property, marine, engineering and aviation policies. Salama is listed on the Saudi Stock Exchange (Tadawul) and Dubai Financial Market.

Headquarters
Salama Tower (12Th Floor), Al Madinah Road, P.O. Box 4020
Jeddah; Mecca Region; Postal Code: 21491

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Website: http://www.salama.com.sa

Basic Information
Total Employees:
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Outstanding Shares:
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Registered Capital:
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Financial Auditors:
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Incorporation Date:
1979
Key Executives
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Chairperson
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Vice Chairperson
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Chief Executive Officer
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Chief Financial Officer
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Outside Director
Ownership Details
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5%
Company Performance
Financial values in the chart are available after Salama Cooperative Insurance Company JSC report is purchased.
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Key Financial Highlights
Annual growth percentages for latest two years in local currency SAR. Absolute financial data is included in the purchased report.
Net insurance premium revenue
59.43%
Operating profit (EBIT)
N/A
Net Profit (Loss) for the Period
N/A
Total assets
-11.59%
Investments
-57.25%
Receivables
-87.4%
Total equity
218%
Net Premiums Earned Trend
41.78%
Net Profit Trend
N/A
Return on Equity (ROE)
N/A
Loss Ratio
7.19%
Underwriting Expenses Ratio
-18.77%

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