Egyptian Life Takaful- GIG ups investments to 267 mln pounds at end-March

The investments of Egyptian Life Takaful Company- GIG jumped to 267 million Egyptian pounds ($14.7 million) during the first nine months of financial year 2016/2017.

Rimah Asaad, GIG’s managing director, told Amwal Al Ghad on Tuesday that his company is expecting to increase its investment portfolio to around 300 million pounds at the end of June.

Asaad further added that GIG achieved total premiums worth 260 million pounds during the first nine months of the current financial year.

“We plan to boost our premium portfolio to around 400 million pounds at the end of next June as part of a strategic plan to reach 700 million pounds in five years,” Assad referred.