Egyptian Mohandes Insurance’s direct premiums grow 5.8% in 9 months

Egyptian Mohandes Insurance reported on Monday a 5.8 percent year-on-year increase in its direct premiums during the first nine months of the 2019/2020, recording 398.16 million Egyptian pounds ($24.6 million).

Earlier, direct premiums stood at 376.25 million pounds during the first nine months of the 2018/2019 financial year.

The company’s nine-month net profit climbed 10 percent to 88.07 million pounds from 80.9 million pounds during the same period of the last financial year.

At the end of the third quarter of the 2019/2020 financial year, net investment income grew to 110.73 million pounds against 96.91 million pounds during the same period of the 2018/2019 financial year.