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.
This initiative aligns with Salik’s strategy to expand its ancillary revenue streams and reinforce its leadership in sustainable mobility solutions.
Ibrahim Haddad, CEO of Salik, expressed excitement about the partnership. “We are delighted to partner with Liva to enable a seamless and convenient motor insurance renewal process for our customers, providing an advanced lifestyle that reflects digital progress and innovative solutions in the Emirate of Dubai,” he said.
Haddad added: “While tolling remains our core business, we are quickly proving that we have the capacity and capabilities to deliver a wide range of mobility-related technology solutions, as we continue to unlock new opportunities for further product diversification and growth.”
Martin Ruegg, Group CEO, Liva Group, said, “As a result of this partnership, drivers in the UAE will now have instant access to best-in-class motor insurance solutions and will be able to benefit from and enjoy a hassle-free claims experience, with our expert support team available to guide them through every step of the process.
This collaboration is a significant step in Salik’s journey towards expanding its market presence, offering value-added services, and setting new standards in digital insurance services.
