Dubai – Mubasher: Islamic Arab Insurance Company (Salama) announced a 24% decrease in its accumulated losses to AED 284.82 million for the period ended on 30 September 2020, compared to  AED 376.82 million as of 31 December 2019.

Achieving lower accumulated losses is attributed to the high performance of underwriting profit and investment income, according to the company's disclosure to the Dubai Financial Market (DFM) on Monday.

This reduction marks the highest percentage of decrease recorded in the accumulated losses during the last seven years.

It is noteworthy to mention that in the first nine months of 2020, the company's net profits attributable to the shareholders reached AED 137.06 million, up from AED 34.99 million in the year-ago period.