Dubai – Mubasher: Islamic Arab Insurance Company (Salama) appointed Mohamed Ali Bouabane as its CEO as of 21 March 2025, according to a bourse disclosure.
The appointment came after obtaining the necessary regulatory approvals from the Central Bank of the UAE (CBUAE) in compliance with the Corporate Governance Regulations for insurance firms.
Salama turned profitable at AED 24.56 million in 2024, against net losses valued at AED 139.32 million in 2023.
Earnings per share (EPS) hit AED 0.01 last year, versus a loss per share of AED 0.16 at the end of December 2023.
Revenues dropped year-on-year (YoY) to AED 1.04 billion in 2024 from AED 1.11 billion.
