Islamic Arab Insurance Co. (Salama) PJSC (DFM: SALAMA)

DFM: SALAMA Balance Sheet

Financials in millions AED. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Investments in Debt Securities	-	74.41	162.06	323.16	517.77	365.43
Investments in Equity & Preferred Securities	36.14	36.32	36.13	35.38	33.72	97.24
Other Investments	413.32	85.51	63.08	62.56	258.83	149.46
Total Investments	592.03	341.94	419.9	622.69	1,045	778.44
Cash & Equivalents	115.87	145.83	133.45	104.44	83.82	70.91
Reinsurance Recoverable	445.3	348.46	281.85	467.69	426.69	349.55
Other Receivables	47.6	115.71	102.25	216.03	257.77	178.39
Separate Account Assets	2,036	2,021	1,948	2,396	2,228	1,994
Property, Plant & Equipment	50.45	51.98	43.2	40.91	47.58	56.94
Goodwill	-	65.63	114.64	114.64	114.64	114.64
Other Intangible Assets	67.51	2.38	3.18	3.13	0.6	1.58
Restricted Cash	289.77	283.53	269.11	498.12	10.76	10.76
Other Current Assets	14.51	0.97	1.35	8.41	37.08	116.83
Long-Term Deferred Tax Assets	5.17	5.12	4.09	-	-	-
Long-Term Deferred Charges	-	-	-	178.16	251.13	314.56
Other Long-Term Assets	6	231.2	252.03	117.76	3.8	206.42
Total Assets	3,670	3,614	3,573	4,768	4,508	4,193
Accounts Payable	-	57.68	59.24	76.89	51.29	52.55
Accrued Expenses	-	12.9	25.27	124.99	161.65	277.92
Insurance & Annuity Liabilities	2,736	2,625	2,421	123.78	40.69	30.39
Unpaid Claims	-	-	-	574.95	558.6	485.02
Unearned Premiums	-	-	-	347.7	323.04	264.44
Reinsurance Payable	134.33	162.3	185.2	192.29	147.79	105.33
Current Portion of Leases	-	2.51	2.76	2.42	3.79	4
Short-Term Debt	-	-	-	25	-	-
Current Income Taxes Payable	-	16.04	6.15	18.74	23.48	22.3
Long-Term Leases	2.99	2.19	6.07	2.22	4.47	5.91
Long-Term Deferred Tax Liabilities	-	0.12	0.1	-	-	-
Separate Account Liability	-	-	-	2,395	2,225	1,983
Other Current Liabilities	-	60.8	34.31	-	-	42.23
Other Long-Term Liabilities	144.04	17.14	16.69	40.94	58.37	74.16
Total Liabilities	3,017	2,956	2,757	3,925	3,598	3,347
Common Stock	939.59	939.59	1,210	1,210	1,210	1,210
Retained Earnings	-138.09	-155.6	-264.52	-268.65	-210.67	-294.5
Treasury Stock	-35.97	-35.97	-35.97	-35.97	-35.97	-35.97
Comprehensive Income & Other	-176.47	-160.05	-163.45	-137.89	-128.02	-107.74
Total Common Equity	589.06	587.98	746.06	767.49	835.33	771.78
Minority Interest	63.68	69.24	70.21	75.68	74.33	73.47
Shareholders' Equity	652.74	657.21	816.27	843.17	909.67	845.26
Total Liabilities & Equity	3,670	3,614	3,573	4,768	4,508	4,193
Filing Date Shares Outstanding	922.76	922.76	922.77	922.77	922.77	922.77
Total Common Shares Outstanding	922.76	922.76	922.77	922.77	922.77	922.77
Total Debt	2.99	4.7	8.82	29.64	8.26	9.91
Net Cash (Debt)	112.88	141.14	124.62	74.8	75.56	61.01
Net Cash Growth	9.12%	13.25%	66.61%	-1.00%	23.85%	-48.09%
Net Cash Per Share	0.12	0.14	0.14	0.08	0.08	0.07
Book Value Per Share	0.64	0.64	0.81	0.83	0.91	0.84
Tangible Book Value	521.55	519.96	628.24	649.72	720.1	655.57
Tangible Book Value Per Share	0.57	0.56	0.68	0.70	0.78	0.71
Land	-	10.81	8.78	8.71	9.16	9.9
Buildings	-	32.28	23.22	23.67	25.12	34.38
Machinery	-	24.92	24.04	25.56	24.59	24.55
Construction In Progress	-	0.44	1.37	0.59	0.34	0.35

Source: S&P Capital IQ. Insurance template. Financial Sources.