Delta Insurance Eyes 10% Growth In Investments In FY 2012/13

Delta Insurance Co. targets achieving 10% growth in the volume of investments in FY 2012/2013.

Achieving such growth is possible amid the political and economic stability Egypt witnesses after electing a new president, said Osman Shehata, Department of Finance & Investment GM.

The company targets achieving value of investments of about EGP 100 million by the end of next June which is divided as follows: EGP 35 million predicted to be achieved by Delta Insurance (general and property) and EGP 65 million expected to be achieved by Delta Life Insurance, added Shehata, noting that a decision of splitting the two activities in the company.

There were some disorders in the company after the managing director Yassin El Hamzawy passed away, Shehata added.

Launching an investment fund to be traded on the stock market was postponed till the company is more stable.

It is worth mentioning that Delta Insurance Co. targets achieving net profit of EGP 27.954 million in FY 2012/2013.