Page 161 - SALIK ENGLISH PR REPORT NOVEMBER 2024

11/14/24, 1:52 PM Salik achieves 9% rise in Q3 profit, launches car insurance partnership - Finance Middle East

Salik achieves 9% rise in Q3 profit, launches car

insurance partnership
Salik has partnered with UAE insurer Liva to offer tailored car insurance solutions.

Al Garhoud Bridge. Credit: Salik

Salik Company PJSC, Dubai’s exclusive toll gate operator has reported a 9% increase in net profit in Q3 2024 at Dh
277.3 million ($76 million) on the back of robust business activity in the emirate.

The net profit was above analysts’ mean estimate of Dh273.2 million.

In addition to its financial results, the company has also joined forces with Liva, a renowned multi-line insurer in
the GCC, to deliver bespoke insurance solutions for UAE drivers. This strategic collaboration aims to simplify the
renewal process, ensuring convenience and efficiency for vehicle owners.

The partnership, effective at the end of November, leverages Salik’s robust database to provide timely reminders,
helping drivers avoid insurance coverage lapses. Customers will receive notifications with a link to a Liva-managed
portal, allowing for easy policy renewal.

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