AMIG’s Net Profit Hits EGP 10.3 Mln In Q1

The Arab Misr Insurance Group’s (AMIG) net profit reached EGP 10.3 million in Q1 of FY 2012/2013, compared to EGP 8 million in Q1 of FY 2011/2012, registering a growth rate of 28.7%.

AMIG’s premiums rose by 18% to reach EGP 85.6 million by the end of last September, said Alaa El-Zoheiry, managing director of the company.

The benefits paid from AMIG reached EGP 62 million and the net benefits reached EGP 16.5 million at the end of Q1 of the current fiscal year.

The company’s investments registered EGP 353.7 million, while insurance underwriting surplus stood at EGP 1.3 million at the end of last September.

The insurance activity surplus stood at EGP 11.2 million, return on stockholders’ equity reached EGP 8.6 million and return on capital registered 45% in Q1 of the current fiscal year.