Misr Ins. Holding’s units to post EGP 4.3bn profit in FY19/20
Monday, 07 08 2019, Category: Insurance and Reinsurance, Country: Egypt
Misr Insurance Holding Company’s ordinary general meeting (OGM) has approved the estimated budget for fiscal year 2019/2020, local newspaper Akhbar El-Yom reported.
Misr Insurance Holding Company’s subsidiaries are expected to increase revenues by 21.5% to EGP 20.4 billion in the coming fiscal year.
In addition, units of Misr Insurance Holding Company are likely to achieve net profits of EGP 4.3 billion in FY19/20, rising by 34.5% from FY17/18.
Total shareholders’ equity of the parent company and its subsidiaries is estimated to grow by 5.5% to EGP 31.9 billion in FY19/20.
Total investments of Misr Insurance Holding Company and its subsidiaries are projected to increase by 8% to EGP 70.7 billion in FY19/20, compared to FY17/18.