Salama Cooperative Insurance Company SJSC

Salama's capital structure shows a liquidity position of SAR 231.23 million in cash and equivalents, but negative operating cash flow of SAR 1.63 million and free cash flow of SAR -88.56 million, indicating cash outflows from operations. The company's debt-to-equity ratio is 0.06, suggesting a conservative leverage profile. Profitability metrics are negative, with a return on equity of -33.93% and return on assets of -11.32%, both significantly below the industry median for property and casualty insurers. This underperformance is driven by a net loss of SAR 91.56 million and operating loss of SAR 90.04 million. The company's revenue is distributed across three segments: Medical, Motor, and Others. No specific revenue concentration data is available, but the Others segment likely includes property, marine, engineering, accident, and liability categories. Salama operates in six countries, including Saudi Arabia, UAE, Egypt, Senegal, Algeria, and Jordan, with a Re-Takaful Company in Tunis. Outlook data is not available for Salama, but the company's recent financial performance shows a declining trend. The negative operating and net income suggest a challenging growth trajectory, with no clear signs of improvement in the near term. Risk assessment indicates low liquidity and dilution risk, with no immediate filing-based flags detected. The company's low debt-to-equity ratio and significant cash reserves provide a buffer against short-term liquidity pressures. No dilution sources were identified in the filings, and the company has not issued new shares recently. Recent filings and transcripts do not highlight any material events or strategic shifts. The company's operations remain focused on Takaful insurance solutions in the Middle East and North Africa.