Egypt - Mohandes Ins. investments rise 10.4% in FY2018
Friday, 10 25 2019, Category: Insurance and Reinsurance, Country: Egypt
Egyptian Mohandes Insurance’s investments surged 10.4 percent year-on-year during the 2018/2019 financial year, chairman and managing director said on Thursday.
Investments registered 780.8 million Egyptian pounds ($48 million), up from 706.9 million pounds during the 2017/2018 financial year, Reda Fathy further told Amwal Al Ghad.
“Net investment income increased 28.3 percent to 125 million pounds at the end of last June against 97.4 million pounds during the financial year 2017/2018,” Fathy said.
The company’s total assets also grew 9.7 percent to around 997.8 million pounds at the end of June versus 909.7 million during the same period in 2018, he added.
“We have posted direct premium portfolio up to 500 million pounds during the last financial year 2018/2019, compared with 423.92 million pounds a year earlier,” Fathy added.
Source: Amwal Al Ghad