AMIG 9-Month Net Investment Income Hit EGP 14.9 Bln

The Arab Misr Insurance Group’s (AMIG) net investment income rose to EGP 14.9 million in Q1 of FY 2012/2013, compared to EGP 4.8 million in Q1 of FY 2011/2012, registering a growth rate of 210.4%, said Mohamed Nagah Nour, deputy general manager of investment and banking department at AMIG.

The total value of investments achieved by the company registered EGP 353.7 million at the end of last September, up from EGP 279.7 million at the end of last September in 2011, registering an increase of 26.4%.

The insurance sector’s investments grew greatly in the current period as the company invests in secure investment instruments which are treasury bills and government bonds, he noted.

It is worth mentioning that AMIG targets to achieve investments of EGP 370 million in FY 2012/2013.