Egyptian Takaful Insurance eyes 29.5% growth in assets end-June 2020

Egyptian Takaful Insurance (Property) targets a 29.5 percent year-on-year surge in assets to 2.14 billion Egyptian pounds ($131.2 million) at the end of financial year 2019/2020, its vice-chairman said on Sunday.

“Our assets registered around 1.65 billion pounds at the end of June from 1.2 billion pounds at the end of the first half of last year, marking a 37 percent growth,” El-Sayed Bayoumi told Amwal Al Ghad.

The company’s investments also rose 41 percent to 1.4 billion pounds at the end of last June, he said, adding that these figures are expected to increase to 1.92 billion at the end of the current financial year.