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Islamic Arab Insurance Company (Salama), the UAE's largest Takaful solutions provider, reported a 64% increase in profitability for the first nine months of 2024, with net profits rising to AED 30.41 million compared to AED 18.56 million in the same period in 2023. Takaful revenue reached AED 802.83 million, and total assets increased to AED 3,669.82 million. The company noted an increase in other operating income, despite negative impacts from foreign currency adjustments due to the depreciation of the Egyptian Pound. Salama's Chairman, H.E. Fahad AlQassim, emphasized the company's commitment to delivering value and high standards of service. The company's strategies in underwriting, expense management, and digitalization have contributed to its improved performance. CEO Walter Jopp highlighted the strong third-quarter results and the company's focus on resolving legacy issues and improving customer experience. Jopp has stepped down for personal reasons but will assist in the transition. Salama remains focused on providing peace of mind to customers and achieving growth through strategic objectives, supported by its solid Takaful foundation and industry recognition.
The document is a review report and interim condensed consolidated financial statements (unaudited) for Islamic Arab Insurance Co. (Salama) PJSC and its subsidiaries, dated 30 September 2024.
On November 14, 2024, the Islamic Arab Insurance Co. (SALAMA) held a board meeting attended by six members via modern technology, achieving an 86% quorum. The meeting lasted from 3:00 pm to 4:00 pm. During the meeting, the board approved the minutes from the August 14, 2024 meeting, reviewed and approved the financial statements for the third quarter ending September 30, 2024, and discussed other regular business matters. The authorized signatory for the meeting was Khaled Barakat, the General Counsel and Board Secretary.
The document is the unaudited interim condensed consolidated financial statements for United Foods Company (PSC) and its subsidiaries as of September 30, 2024.
Dubai Taxi Company (DTC) has expanded its fleet by acquiring 250 new license plates, all designated for electric vehicles, from a recent auction by the Dubai Roads and Transport Authority. This brings DTC's total fleet to 6,210 vehicles and is expected to increase annual revenue by approximately AED 85 million. With this addition, about 87% of DTC's fleet will consist of hybrid and electric vehicles, aligning with the UAE's Year of Sustainability and DTC's commitment to eco-friendly transport solutions. DTC aims to enhance customer experience and position Dubai as a leader in sustainable urban mobility, while also expanding services locally and regionally and strengthening partnerships in the smart and sustainable transport sector.
Emaar Properties PJSC and its subsidiaries have released their unaudited interim condensed consolidated financial statements for the period ending September 30, 2024.
The text is a notification addressed to Dr. Maryam Butti Al Suwaidi, CEO of the Securities & Commodities Authority, and Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market. It informs them of an upcoming Board of Directors meeting for the National Central Cooling Company (PJSC) scheduled for 3:00 PM on 19 November 2024. The meeting aims to discuss the business and operations of the company, in accordance with Article 36/11 of the Disclosure and Transparency Regulations. The notification is signed by Sean Magee, the Company Secretary.