AMIG’s Engineering Insurance Premiums Grew 28% At End-Dec., 2012

Arab Misr Insurance Group’s (AMIG) engineering insurance premiums rose 28% by the end of last December, said Atef Moustafa, deputy general manager of Engineering Insurance Sector at AMIG.

The company managed to make a quantum leap in the growth rate of engineering insurance premiums, despite the current political turmoil and economic deterioration, he added.

He revealed that company achieved engineering insurance premiums of EGP 31.7 million in the first half of the current fiscal year, compared to EGP 25.5 million at the end of the compared period in the last fiscal year.

The company succeeded in achieving growth rates because of practicing sound underwriting policy. Moustafa explained that the value of compensations fell by 52% in a year because of adopting the sound policy in underwriting and pricing.