Misr Ins. Holding's net profits reach record EGP 4 bln
Wednesday, 01 15 2020, Category: Insurance and Reinsurance, Country: Egypt
Misr Insurance Holding Company has achieved net profits of EGP 4 billion with a growth rate of 22.5 percent in FY2018/2019, which are the largest profits in the company's history, while the state’s share in the company's profits recorded EGP 1.5 billion with a growth rate of 98.1 percent.
According to the company's fiscal statements, which were announced in the company's general meeting held on Monday and chaired by the Minister of Public Business Sector Hisham Tawfik, the company's total investments in FY2018/2019 recorded EGP 61.9 billion.
The company's FY2018/2019 report mentioned that the company seeks to establish new companies to enhance its position as the largest non-banking financial entity in Egypt, including the establishment of Hayah for tontine in collaboration with two of the largest banks in Egypt.
It is also establishing a property insurance company, direct investment funds for SMEs, and a number of companies for medical insurance and financial leasing.