AMIG Eyes Investments Of EGP 370 Mln In FY 2012/13

Arab Misr Insurance Group (AMIG) targets to achieve investments of EGP 370 million in FY 2012/2013, up from EGP 340 million in FY 2011/2012, with an increase of 8.8%, said Mohamed Nageh Nour, deputy general manager of investment and banks sector at AMIG.

The Company invests its funds in secure investment instruments which are treasury bills and government bonds. This fiscal year is expected to witness higher growth rates in the volume of investments of insurance companies.

It is worth mentioning that A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of B++ and issuer credit rating of “bbb” to Arab Misr Insurance Group S.A.E (AMIG). The outlook for both ratings is stable. Such ratings are considered the highest ones for an insurance company in the region that is witnessing political turmoil in the current period.