Wethaq Takaful Insurance-Egypt investment portfolio hit $35mn last December

The investment portfolio of Wethaq Takaful Insurance -Egypt has increased to 273.55 million Egyptian pounds (US$34.9 million) at the end of December 2015, marking 3 percent growth. In comparison, the portfolio recorded 264.4 million pounds at the end of June 2015.

Speaking to Amwal Al Ghad Wednesday, Abd El Aziz Labib -general manager of financial and admin affairs- stated that company’s net income of the investments recorded 14.7 million pounds at the end of December 2015 opposed 12.5 million pounds in fiscal year 2014-15, registering 18 percent increase.

Firm’s financial indicators showed that its total assets have been boosted by 10 percent to hit 329.3 million pounds at the first half of fiscal year 2015-16 compared to 300.5 million pounds in financial year 2014-15.