SALAMA - Islamic Arab Insurance Company http://www.alacrastore.com/company-snapshot/SALAMA_Islamic_Arab_Insurance_Company-3719574 Sunday, September 07, 2008 12:10:01 PM 3719574 SALAMA - Islamic Arab Insurance Company en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/666896spcred/666896normThe latest Full Report from S&Pglobal8/22/2008 1:07:16 PM400Full Report666896United Arab EmiratesProperty & Casualty InsuranceEmerging MarketsEurope, Middle East, AfricaGlobal IssuersInsuranceFull ReportStrong financial profile, with earnings and capitalization both strong Good overall business profile, with particularly good competitive position The group is steadily creating a satisfactory track record in its relatively new and enlarged configuration Although investments are good and are currently performing well, nearly half of the group's assets are in potentially volatile shares and property The group remains somewhat dependent on its Tunisian reinsurance subsidiary, B.E.S.T. Reinsurance Co., for premium volume and underwriting income The ratings on Salama/Islamic Arab Insurance Co. (P.S.C.) (Salama/IAIC) of Dubai, United Arab Emirates (UAE), reflect its strong financial and good business profiles, which are based on reasonably strong earnings, capitalization, and liquidity; a good, increasingly diversified competitive position; and good investments and financial flexibility.ARE40301040 403010 4030 40Salama/Islamic Arab Insurance Co. (P.S.C.)408044EMERGINGEUROMIDAFRFULLGLOBISSINSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/666901spcred/666901normThe latest Summary from S&Pglobal8/22/2008 1:07:16 PM175Summary666901United Arab EmiratesProperty & Casualty InsuranceEmerging MarketsEurope, Middle East, AfricaGlobal IssuersInsuranceSummaryThe ratings on Salama/Islamic Arab Insurance Co. (P.S.C.) (Salama/IAIC) of Dubai, United Arab Emirates (UAE), reflect its strong financial and good business profiles, which are based on reasonably strong earnings, capitalization, and liquidity; a good, increasingly diversified competitive position; and good investments and financial flexibility. Together with its subsidiaries, Salama/IAIC also benefits from the support of influential UAE and Saudi Arabia-based shareholders. Our principal concern is management's somewhat aggressive investment strategies in a region where asset values can be very volatile. Inevitably, some uncertainty also surrounds the group's ambitious strategies for expansion. If successful, the group will further diversify both revenues and earnings. However, competition is considerable and it may be several years before the success of the planned expansionARE40301040 403010 4030 40Salama/Islamic Arab Insurance Co. (P.S.C.)408044EMERGINGEUROMIDAFRSUMMARYGLOBISSINSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/bir/1322424bir/1322424normIslamic Arab Insurance Company PJSC "SALAMA"United Arab EmiratesInsurance: Writing of all classes of general insurance, principally motor insurance, in accordance with Islamic Shari'ah principles6321632463315241145241269IAIC6/20/2008 6:49:00 AM1322424Company Profiles & FinancialsGale Company Profiles