SALAMA appoints Humaid Alqutami as Chairman of the Board

Islamic Arab Insurance Company, SALAMA, has elected H.E. Humaid Mohammad Obaid Alqutami as Chairman of its Board of Directors, marking a leadership change at the Dubai-listed Takaful insurer.

The election took place at a board meeting held on 2 July 2026. The board also elected Fareed Lutfi Al Harmouzi as Vice Chairman and approved the restructuring of key board committees, including the Audit Committee, Risk Committee, Nomination and Remuneration Committee, and Investment Committee, according to a media release by Zawya.

Leadership change after capital restructuring

Alqutami succeeds Essa Ali Bin Salem Alzaabi, who served as Chairman during SALAMA’s capital restructuring and the execution of its strategic priorities. SALAMA said the board extended its appreciation to Alzaabi for his leadership and service.

The change is significant because it follows a period of balance-sheet repair for the insurer. In April 2026, SALAMA said it had completed restructuring, restored financial strength and was shifting towards sustainable growth.

For the insurance sector, the appointment reinforces the growing importance of board-level governance in a market shaped by capital discipline, regulatory expectations, risk management and customer trust.

A governance-heavy mandate

According to the release, Alqutami brings leadership experience across government, healthcare, education and financial services. His previous roles include UAE Minister of Health, UAE Minister of Education, Chairman of the Federal Authority for Government Human Resources, Director General of the Dubai Health Authority and Chairman of Commercial Bank of Dubai. He also previously served as a member of the Executive Council of the Government of Dubai.

His appointment places institutional oversight at the centre of SALAMA’s next phase. For HR and business leaders, the restructuring of the Nomination and Remuneration Committee is particularly relevant, as insurers face sharper expectations around leadership capability, executive accountability, succession planning and reward governance.

Al Harmouzi, the new Vice Chairman, brings more than three decades of experience in insurance and financial services. His previous roles include CEO of Alliance Insurance, President of Dubai Insurance Group and Managing Director of Dubai Financial Group’s insurance business. He currently serves as Secretary General of the Emirates Insurance Federation and the Gulf Insurance Federation.

Why it matters for the sector

SALAMA is among the region’s established Shariah-compliant Takaful providers and is listed on the Dubai Financial Market. Incorporated in 1979, the company provides family, motor, general and health Takaful solutions across the UAE, with a wider regional presence through subsidiaries and associates in Egypt and Algeria.

The appointment signals a sharper governance phase for SALAMA as it moves from restructuring to growth. For the wider insurance industry, it also reflects a broader leadership reality: financial recovery alone is not enough. Boards will need stronger oversight of risk, capital, talent, technology and customer trust.

As insurers across the GCC rethink growth, governance and operating resilience, SALAMA’s board reset puts leadership accountability back in focus.