Egyptian Mohandes Insurance pays $11.8 mln compensation in 9 months – sources

By Eslam Abdelhameed On Jul 1, 2020

Reda Fathy, chairman and managing director of Egyptian Mohandes Insurance Company

Egypt’s Mohandes Insurance has paid total compensation worth 191.3 million Egyptian pounds ($11.8 million) during the first nine months of the financial year 2019/2020, according to sources.

Compensation earlier recorded 178.2 million pounds during the first nine months of the last financial year 2018/2019.

At the end of March, the company also paid direct compensation of 183.5 million pounds, official sources further told Amwal Al Ghad on Wednesday.

“We posted total direct premiums of 398.16 million pounds during the first nine months of the current financial year, up from 376.25 million pounds during the same period of the last financial year, marking a 5.8 percent growth,” they said.