Salama

What Salama does

Salama (legal name: Islamic Arab Insurance Company PSC) is a Dubai-headquartered, Dubai Financial Market-listed Takaful provider founded in 1979, one of the oldest and largest Shariah-compliant insurers in the world. The company operates a full personal lines portfolio (Auto Takaful, Health Takaful, Life Takaful, Home Content Takaful, Travel Takaful, Savings and Investments, and Shariah-compliant Funds) and a corporate lines portfolio (Corporate Auto Fleet, Property & Casualty, Employee Benefits, Marine, Engineering and Construction, Financial Lines). Products are built on the Takaful framework of mutual assistance and risk-sharing, supervised by an Internal Shariah Supervision Committee and underwritten with global reinsurance partners; Salama holds CBUAE Insurance Authority license 017 and a Dubai commercial license 20816.

Salama makes money through recurring insurance premiums across personal and corporate lines, paid annually or on multi-year subscription terms, with pricing tiered by product (e.g., four Home Content tiers from AED 50K to AED 500K of cover; Health Takaful annual limits from AED 150K to AED 1M; Idikhar Plus savings plans from AED 500/month). Distribution runs through direct digital self-serve quote tools on salama.ae, a three-branch UAE physical network (Dubai HQ, Abu Dhabi, Sharjah), a Policybazaar.ae aggregator partnership for life takaful, dedicated corporate sales force, and wholly-owned regional subsidiaries in Bahrain, Egypt, Senegal, and Algeria plus an associate in Jordan. The company serves approximately 450,000 customers with AED 10 billion of coverage in force.

In 2025-2026 the business was in a defined turnaround: the company completed a capital restructuring in April 2026 consisting of a AED 456 million capital reduction to clear accumulated losses and an AED 155 million Mandatory Convertible Sukuk subscribed by Eshraq Investments PJSC and Humana Holding Limited (each up to AED 175 million). Over AED 420 million of legacy exposures were resolved, solvency was restored to CBUAE-compliant levels, and a new board led by Chairman H.E. Humaid Mohammad Obaid Alqutami was installed. Full-year 2025 net profit was AED 11.1 million with underlying profit up approximately 147% year-on-year on a normalised basis.

Name

Salama

Legal name

Islamic Arab Insurance Company (PSC) – Salama

Website

https://salama.ae

Company type

Public

Founded year

1979

Operating status

Operating

Headcount range

251–500 employees

Short description

Salama is a Dubai-headquartered, DFM-listed Takaful (Shariah-compliant) insurance provider offering personal and corporate coverage in health, auto, life, home, travel, marine, and engineering lines to UAE residents and businesses, with regional subsidiaries across MENA and Africa.

Ownership category

akta.pro rank

Product category

Takaful Insurance

NAICS

Insurance Carriers (5241), Insurance Carriers and Related Activities (524)

SIC

Accident & Health Insurance (6321), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Retakaful (Life & Health) (FSAIANAM)

Keywords

• Takaful insurance
• Shariah-compliant insurance
• Auto insurance
• Health insurance
• Corporate insurance

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Personal Insurance Premiums: Recurring insurance premiums from individual customers purchasing health, auto, home, travel, and life takaful coverage on annual or multi-year terms.
2. Corporate Insurance Premiums: Commercial insurance premiums from businesses for group coverage including employee benefits, property & casualty, marine, engineering, and financial lines.
3. Savings and Investment Products: Savings plans including single-contribution (Momayaz) and regular contribution products (Idikhar Plus) with fund investment options.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Salama is a Shariah-compliant insurance (Takaful) provider offering personal and corporate insurance products including auto, health, life, home, and travel coverage, along with savings and investment plans. The company distributes coverage through its website tools, UAE branch network, aggregator partnerships, and a dedicated corporate sales team, with all products governed by an Internal Shariah Supervision Committee.

Product overview

Salama is a leading Takaful (Shariah-compliant insurance) provider offering a comprehensive portfolio of personal and corporate insurance products. The personal product suite includes Auto Takaful (Third Party Liability and Comprehensive), Health Takaful (Basic and Individual), Life Takaful (Hyat Superior, Hyat Secure, Hemaya Plus, Hemayati Plus), Savings and Investments (Momayaz, Idhikar Plus, Idhikar Plus Secure), Funds, Home Content Takaful, and Travel Takaful. The corporate segment covers Auto Fleet, Property & Casualty, Employee Benefits, Marine, Engineering & Construction, and Financial Lines. Salama operates with an Internal Shariah Supervision Committee ensuring all products adhere to Islamic principles. The company is listed on Dubai Financial Market and regulated by the Central Bank of the UAE.

Differentiator

Problem solved

Functional benefit

Brands

• Salama Takaful: Islamic-compliant insurance solutions under Shariah principles

Products and services

• Auto Takaful Personal motor insurance covering car loss or damage, third party liability, and personal accident cover. Offered as Third Party Liability (mandatory) and Comprehensive coverage with A-grade garage network repairs, for UAE individual drivers.
• Health Takaful Personal health insurance providing financial protection against unexpected medical expenses. Offered as Basic (Essential Benefits Plan with AED 150,000 annual limit) and Individual (comprehensive plans with AED 150,000 to AED 1 million limits), with direct billing across 4,000+ UAE healthcare providers.
• Life Takaful Family life insurance providing financial protection on death. Includes Hyat Superior (comprehensive lifetime), Hyat Secure (with added security), Hemaya Plus (term assurance), and Hemayati Plus (instant term with no claim bonus), backed by global reinsurance partners.
• Home Content Takaful Personal home insurance protecting home and belongings against damage or loss, offered in four coverage tiers: Diamond (up to AED 500,000), Gold (AED 200,000), Silver (AED 100,000), and Bronze (AED 50,000).
• Travel Takaful Personal travel insurance covering medical emergencies, personal assistance, losses and delays, personal accident, and civil liability. Coverage options include Europe, Worldwide, and Hajj & Umrah protection.
• Savings and Investments (Momayaz, Idhikar Plus, Idhikar Plus Secure) Shariah-compliant savings and investment plans providing access to funds across sectors, geographies, and asset classes. Momayaz is a single contribution plan for investors with AED 100,000+ savings; Idhikar Plus is a regular contribution plan (minimum AED 500/month for 5+ years); Idhikar Plus Secure adds extra protection (minimum AED 1,000/month for 5+ years).
• Shariah-Compliant Funds Shariah-compliant investment fund offerings including Emirates Global Sukuk Fund, Emirates Islamic World Opportunities Fund, TATA Indian Shariah Equity Fund, Comgest Growth Europe Fund, HSBC Islamic Global Equity Index Fund, and others from world-leading fund houses.
• Personal Accident Insurance Worldwide accident coverage for accidental death, bodily injury, permanent total/partial disability, and temporary disablement, including emergency transportation and mortal remains repatriation.
• Yacht & Boat Insurance Marine vessel insurance covering hull & machinery and collision & legal liabilities for personal watercraft, with options for agreed value or actual cash value basis.
• Corporate Auto Takaful Corporate fleet motor insurance covering third party liability fleet, comprehensive fleet, and vehicle export risks for business vehicle fleets.
• Property and Casualty Takaful Corporate property and casualty insurance covering fire and allied perils, property all risk, business interruption, employee compensation, employee liability, and public liability for UAE businesses.
• Employee Benefits Takaful Corporate employee benefit insurance covering group medical, group death in service, and group personal accident for employer-sponsored workforce benefits.
• Marine Takaful Corporate marine insurance covering marine cargo, hull and machinery, and yacht and boat risks for businesses engaged in shipping and marine operations.
• Engineering and Construction Takaful Corporate engineering insurance covering erection all risks, contractor's all risks, electronic equipment, contractor plant & machinery, deterioration of stock, machinery breakdown, machinery loss of profits, fire & allied perils, property all risk, and business interruption for construction and engineering projects.
• Financial Lines Takaful Corporate financial lines insurance covering money, fidelity guarantee, and bankers blanket cover for financial institutions and corporate treasury operations.

Quantifiable outcome

• 450,000 customers served
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature2 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Policybazaar.aecoreGTM or Marketing Partner · 17 July 2025Strategic partnership to expand access to life takaful insurance solutions in the UAE market. The collaboration leverages Policybazaar.ae's extensive digital footprint to accelerate awareness and adoption of Shariah-compliant life insurance among UAE residents.
• Global Reinsurance PartnersminorOthersWorld's largest reinsurance partners backing life insurance claims, providing peace of mind to customers regarding claims payment security.

Scale indicators11 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Al Etihad Cooperative Insurance Company: KSA-listed cooperative insurance company offering health, motor and P&C products; comparable cooperative (Takaful-adjacent) insurance operator competing in the regional GCC insurance market.
• Abu Dhabi National Insurance Company (ADNIC): UAE-listed multi-line insurer offering personal and commercial P&C, life, health and motor insurance, directly competing with Salama across the same customer base and product categories in the UAE market.
• Takaful International Company: Bahrain-based Takaful operator offering family and general takaful products; one of the closest pure-play Takaful comparables to Salama, particularly relevant given Salama's Bahraini subsidiary (Tariic Holding).
• Oman Insurance Company: UAE-listed multi-line insurer offering family takaful, health, motor, property, marine and engineering lines; directly competes with Salama especially in the takaful family and personal lines segments.
• Dubai Insurance Company: Dubai-based UAE-listed insurer offering similar personal and commercial lines including motor, life, health and property; directly comparable as a UAE-headquartered multi-line competitor.
• Walaa Cooperative Insurance: Saudi-listed cooperative (Takaful-style) insurer offering health, motor and P&C coverage across KSA; structurally similar Shariah-compliant insurance model operating in the regional GCC market alongside Salama.
• Emirates Insurance Company: UAE-listed general insurer headquartered in Abu Dhabi offering personal and commercial lines including motor, property, marine, engineering and health — directly comparable in geography, product breadth and target market.
• National Health Insurance Company (Daman): UAE's largest dedicated health insurer offering individual and group health plans including the mandatory EBP product; directly competes with Salama's health takaful portfolio and TPAs for the same DHA/DOH-regulated customer base.

Broad incumbents

• AXA Insurance Gulf: Regional arm of a global insurance group offering motor, health, home, life and travel insurance in the UAE; competes with Salama across consumer lines but as part of a much broader global portfolio.
• Qatar Insurance Company (QIC): Qatar's largest insurer and a regional GCC powerhouse offering P&C, life, health and reinsurance; not a Takaful pure-play but a major regional competitor with overlapping corporate and personal line customers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/salama
• Xx.com/SALAMATakaful

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries5 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Salama