AMIG’s Investments Hit EGP 398 Mln In 9 Months

The Arab Misr Insurance Group (AMIG) achieved EGP 398 million worth of investments in the first nine months of FY 2012/2013, up from EGP 313.5 million in the first nine months of the last fiscal year, registering a growth rate of 26.9%, said Mohamed Nagah Nour, head of investment sector at AMIG.

The company’s investment returns reached EGP 31.5 million as of the end of last March, compared to EGP 20.1 million at the end of the compared period, registering an increase of 56.7%.

“The current turmoil has negative repercussions on the volume of insurance premiums and investment inflows. Companies now are investing their funds in safe investment channels such as treasury bills and bonds,” he noted.

It is worth mentioning that AMIG targets to achieve investments worth EGP 370 million in FY 2012/2013, compared to EGP 340 million in FY 2011/2012, registering an increase of 8.8%.