SALAMA Finalises Restructuring, Reinforces Capital Base and Transitions to Growth
Following a comprehensive capital restructuring, SALAMA restores solvency and resolves over AED 420 million in legacy exposures, positioning itself for disciplined expansion
DUBAI, UAE , 27 Apr 2026 (Viralpressreleases.com) -
Salama Islamic Arab Insurance Company PJSC ("SALAMA"), a leading global provider of Shariah compliant Takaful solutions, has successfully completed its capital restructuring programme. This marks the end of a multi year transformation and fully restores the Company's financial strength. SALAMA has brought its solvency position to a strong and fully compliant level in line with Central Bank of the UAE requirements, positioning itself as a well capitalised, disciplined, and growth ready Takaful insurer with renewed underwriting capacity.
The restructuring programme included an AED 456 million capital reduction to eliminate accumulated losses and align the Company's equity base with its underlying economic position. In addition, SALAMA resolved over AED 420 million of legacy and non admissible exposures, including disputed assets, historical impairments, and foreign exchange related adjustments. This has materially strengthened the balance sheet and reduced volatility. The transformation was completed through the conversion of an AED 155 million Mandatory Convertible Sukuk and the issuance of new shares, a Shariah compliant instrument fully subscribed by Eshraq Investments PJSC and Humana Holding Limited.
With its balance sheet reset and capital position strengthened, SALAMA is now focused on delivering disciplined underwriting performance and sustainable growth. The Company is reinstating its underwriting capacity across core business segments, re engaging key distribution channels including corporate partnerships, driving profitable growth across Life and Wealth, Health and Property and Casualty, and enhancing its claims service, operational efficiency, and customer experience.
Essa Ali Bin Salem Alzaabi, Chairman of SALAMA, said the successful completion of this transformation reflects the Board's commitment to restoring the Company's financial strength and long term sustainability. He added that with a fully reset balance sheet and strengthened capital position, SALAMA is now well positioned to pursue its strategic priorities with confidence and discipline.
With its restructuring now complete, SALAMA is firmly positioned to execute on its strategy and deliver sustainable, long term value to its stakeholders.
About Salama Islamic Arab Insurance
Salama Islamic Arab Insurance Company is one of the world's largest and longest established Shariah compliant Takaful solutions providers, listed on the Dubai Financial Market with paid up capital of AED 820 million. Founded in 1979, Salama has been a pioneer in the Takaful industry and follows a customer centric approach while staying committed to Takaful principles. The company offers family, motor, general, and health Takaful solutions to individual and corporate customers in the UAE, Egypt, and Algeria.
Category : Business, Finance, Employment & Investment
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