Arope Insurance of Properties-Egypt profits at $1.4 mln in FY2019

Arope Insurance of Properties and Liabilities – Egypt posted profits worth 23 million Egyptian pounds ($1.4 million) during the financial year 2018/2019, said its managing director on Tuesday.

“Our premium portfolio recorded around 187 million pounds during the last financial year 2018/2019,” Medhat Saber said.

The company targets a 15 percent year-on-year increase in its premiums within the current financial year 2019/2020,” Saber added.

As part of BLOM Bank Egypt, Arope Life Insurance – Egypt and Arope Insurance of Properties offer the lender’s clients the protection they require with a full range of insurance products.

BLOM Bank is the Egyptian arm of Lebanon’s lender BLOM.