Islamic Arab Insurance Company (SALAMA) has announced the appointment of His Excellency Humaid Mohammad Obaid Alqutami as the new Chairman of the Board of Directors, succeeding Mr. Essa Ali Bin Salem Al Zaabi. Mr. Fareed Lutfi Al Harmouzi has been elected as Vice Chairman. The elections were held during a Board meeting on July 2, 2026, where the restructuring of Board Committees was also approved. Alqutami brings extensive experience from various leadership roles in government, healthcare, education, and financial services, while Al Harmouzi has over three decades of experience in the insurance and financial sectors. Both are expected to contribute significantly to SALAMA's strategic growth and governance.

The Islamic Arab Insurance Company (SALAMA) has scheduled a Board of Directors' meeting for Thursday, July 2, 2026, at 10:30 AM. The meeting agenda includes the election of the Chairman and Vice Chairman of the Board, restructuring of the Board Committees in line with the company's governance framework and applicable regulations, and addressing regular matters along with any other business. The notification is issued by Ahmad Abdelrahim, Senior Manager of Legal & Compliance.

The Islamic Arab Insurance Company (Salama) is in the process of obtaining necessary approvals from the Securities and Commodities Authority (SCA) for a planned capital reduction. Once these approvals are secured, Salama will announce the relevant record date, last entitlement date, and effective date for the capital reduction. The company is committed to keeping shareholders informed of any significant developments in accordance with disclosure requirements.

The Islamic Arab Insurance Company (SALAMA) issued a clarification regarding a previous disclosure about a board resolution passed on November 24, 2025. The resolution involved setting a fixed conversion price of AED 0.46 per share for converting Mandatory Convertible Sukuk into new shares. This conversion price was calculated based on the total number of shares after the company's ongoing capital reduction, as outlined in the shareholder circular for the general assembly meeting on October 16, 2025. The conversion price falls within the specified range.

On November 24, 2025, the Board of Directors of the Islamic Arab Insurance Company (SALAMA) passed resolutions by circulation, pending regulatory approvals from the UAE Central Bank and the Securities & Commodities Authority. The resolutions include approving documents related to the company's capital reduction and initially approving draft documents for a Mandatory Convertible Sukuk transaction, subject to final approvals from the relevant authorities and a final Fatwa from external and internal advisors.

The Islamic Arab Insurance Company (SALAMA) will have its Board of Directors pass a resolution by circulation on November 24, 2025. The resolution will pertain to the reduction of share capital, the upcoming issuance of mandatory Convertible Sukuk (MCS), and general business-related matters of the company. This information was communicated by Ahmad Abdelrahim, Senior Manager of Legal & Compliance.

The document is prepared according to disclosure requirements for companies with shares listed on the market that have accumulated losses of 20% or more of their paid-up capital, as per the SCA Board of Directors’ Decision No. (32/R.M.) of 2019. The Islamic Arab Insurance Company – SALAMA reported accumulated losses amounting to AED 440,288,300, which is 46.86% of its paid-up capital, as of September 30, 2025. Key factors contributing to these losses include a provision of AED 288,467,043 taken in 2024 against assets linked to ongoing litigation since 2019, a provision of AED 28.02 million in 2023 for an irrecoverable reinsurance share related to a large fire claim, a goodwill impairment of AED 49 million due to the devaluation of the Egyptian pound against the UAE Dirham and inflation in Egypt, and unrealized losses on shareholder investments totaling AED 71.2 million in 2023. Additionally, provisions of AED 12.01 million were made for credit losses on other investments and receivables, in line with IFRS 9.

Islamic Arab Insurance Company (SALAMA) reported its financial results for the first nine months of 2025, showing stable underlying profitability and a strengthened balance sheet. The company recorded a net profit of AED 11.1 million, down from AED 30.4 million the previous year, which included a one-time foreign exchange gain. Excluding this gain, the underlying net profit improved year-on-year. Comprehensive income increased to AED 16 million, driven by better investment performance and operational efficiency. Total liabilities decreased to AED 2.83 billion, while shareholders' equity rose to AED 302.2 million. Takaful revenue was AED 768.7 million, reflecting a focus on quality over volume. SALAMA plans a capital raise through a Mandatory Convertible Sukuk of up to AED 175 million. The company's leadership highlighted the success of its strategic transformation and commitment to long-term value creation.

The document is a review report and interim condensed consolidated financial statements for Islamic Arab Insurance Co. (Salama) PJSC and its subsidiaries, dated 30 September 2025. The financial statements are unaudited.

The Islamic Arab Insurance Company (SALAMA) held a Board of Directors meeting on November 12, 2025. During the meeting, the Board approved the company's financial statement for the third quarter ending September 30, 2025. Additionally, an induction program for new Board Members was presented, aligning with corporate governance regulations. Regular matters and other business updates were also discussed. The communication was signed by Ahmad Abdelrahim, Senior Manager of Legal & Compliance.