Al Mohandes Insurance Eyes EGP 125 Mln Non-Life Premiums

Al Mohandes Insurance Company targets achieving non-life premiums of EGP 125 million in FY 2012/2013, said Hussam Saqr, general manager of investment department at the company.

The company also plans to achieve individual life insurance premiums of EGP 921 million and group life insurance premiums of EGP 1.3 billion. Saqr added that the company aims at achieving profit of EGP 16 million in the current fiscal year.

The company plans to increase the value of investments by EGP 45 million to reach EGP 880 million in the current fiscal year, compared to EGP 835 million. The company targets to increase life insurance investments by EGP 30 million and non-life insurance investments by EGP 15 million. The company’s shares have improved in the last period, Saqr affirmed.

It is worth mentioning that Al Mohandes Insurance Company achieved premiums of EGP 208.2 million in FY 2011/2012, compared to EGP 204.8 million in FY 2010/2011, registering an increase of EGP 3.4 million (1.7%).