Egyptian Takaful: Investments Registers EGP 232 Mln In FY 2011/12

The initial financial results of the Egyptian Takaful-Property for the FY 2011/2012 showed that the volume of investments reached EGP 232 million, up from EGP 156.8 million in FY 2010/2011, with an increase of 48%, said El-Sayed El-Bayoumi, head of investment and stock exchange expert at the company.

The yield on these investments registered EGP 24.5 million at the end of June, up from 14.2 million at the end of FY 2010/2011, with an increase of 72.5%.

Despite the economic turmoil insurance sector witnessed in the last year, the Egyptian Takaful-Property succeeded in increasing its investments more than the target level. The company targeted achieving a value of investments of EGP 228 and a yield on investments of EGP 17 million, El-Bayoumi noted.

It is worth mentioning that the Egyptian Takaful-Property targets receiving EGP 160 million as premiums in the FY 2012/2013.