• SALAMA Presents to Shareholders its 29th Annual Report for 2008.
     • Gross Written Grows by 42% to AED 1.326 Billion.
     • Underwriting Income Rises by 39% to AED 164 million.
     • SALAMA Maintains its High Financial Strength Ratings.

SALAMA has presented its shareholders with its 29th annual report for the year ending on Dec 31, 2008. The report reveals that the company’s gross written premium during 2008 has grown by 42% to AED 1.326 billion against AED 933 million in 2007. The underwriting income increased by 39% to AED 164 million in 2008 against AED 118 million in 2007.

The company admitted that its investments did not produce good results due to the global financial turmoil. Yet, SALAMA has maintained its high financial strength ratings from both A M Best and S&P. The company’s board ascribed the minimum impact of the financial crisis to its prudent investment policies, timely corrective measures and geographic spread in relatively closed markets which are not much exposed to the crisis that affected the region adversely.