Allianz Egypt achieves EGP 4bn premiums in 2019
Monday, 11 11 2019, Category: Insurance and Reinsurance, Country: Egypt
Allianz Egypt, comprising of Allianz Life Assurance Company-Egypt and Allianz Insurance Company, achieved premiums of EGP 4bn in 2019, compared to EGP 2.7bn in 2018.
Mohamed Mahran, vice chairperson of Allianz Companies in Egypt and managing director in Allianz Insurance, stated during a press conference that Allianz Insurance (property activities) achieved EGP 884m during the current year up from EGP 734m last year, a growth of 20%.
Meanwhile, the company’s investments increased by 25% reaching EGP 1.2bn during the current year compared to EGP 959m during the last year, he added.
“The total rights of policyholders increased by 36% to reach EGP 638m compared to EGP 468m during the previous year,” said Mahran.
Managing Director of Allianz Life Assurance Company – Egypt Charles Tawadros, showed out that the company earned EGP 3.12bn in written premiums this year, up from 1.97bn last year, a growth of 58%.
Source: Daily News – Egypt