Dubai – Mubasher: Islamic Arab Insurance Company (Salama) appointed Walter Jopp as its new CEO after obtaining the approval of the Central Bank of the UAE (CBUAE), according to a press release.
Jopp holds more than 25-year experience in the insurance industry across global markets, during which he assumed several roles in the UK, Asia, Latin America, and Scandinavia.
The new official previously served as the CEO of Zurich International Life in the Middle East. He also held board positions as Executive Director of Zurich International Life Ltd in the Isle of Man and Director of Zurich Workplace Solutions in the Dubai International Finance Centre (DIFC).
In his new role, Jopp will work closely with Salama’s board and the rest of the executive team to foster the company’s growth plans in order to leverage its position as the market leader in the Takaful sector.
Besides the UAE, he will also be responsible for Salama’s international subsidiaries as well as the mergers and acquisitions (M&A) strategy.
Saeed Mubarak Alhajeri, Chairman of Salama, commented: “Walter has a strong track record in the insurance market in the Middle East and brings proven expertise in market development and distribution.”
“In addition, his strengths in strategy and leadership will reinforce our commitment to achieving significant business growth and providing exceptional service to our customers as a trusted Sharia’h compliant Takaful solutions provider, while continuing to foster UAE National talent and develop Emirati leadership in the insurance industry, which is also one of the main tasks of the new CEO,” Alhajeri noted.
On his part, Jopp stated: “I am honoured to join Salama and I am optimistic about leading the UAE’s biggest Takaful provider as it prepares for its next phase of growth and expansion.”
Last April, the board members of Salama elected Alhajeri and Mohammed Ahmad Mohammed bin Abdulaziz Al Shehhi to be the Chairman and Vice Chairman, respectively.
In 2022, the DFM-listed firm logged net profits worth AED 45.27 million, down from AED 62.37 million a year earlier.
