Misr Life Insurance Posts EGP895mn Direct Premiums in 5 Months

Misr Life Insurance announced today a 15.4% y-o-y growth in its direct premiums of EGP 895 million during the first five months of current fiscal year. A year earlier, the company achieved EGP 775.5 million worth of direct premiums.

In its statement released on Tuesday, the company stated that the total sum insured through its individual insurance policies had reached EGP 2.3 billion, marking a 20.8% increase from EGP 1.9 billion last year.

Furthermore, the company reported total sum insured through its group insurance policies of EGP 26.2 billion by end of November 2014, versus EGP 25.4 billion a year earlier, representing a 3.2% annual growth rate.

Also by end of November 2014, the company’s total paid compensation rose by 20.8% to EGP 800.7 million, up from EGP 662.9 million.

Misr Life Insurance is the largest life insurance company in Egypt, Africa and the Arab world providing professional life insurance, health insurance, and pension plans.