Egyptian Takaful Insurance’s assets rise 37% June-end

Egyptian Takaful Insurance (Property) posted a 37 percent year-on-year growth in assets at the end of last June, said its vice-chairman on Thursday.

Assets registered 1.65 billion Egyptian pounds ($101 million) against 1.2 billion pounds at the end of June 2018, El-Sayed Bayoumi told Amwal Al Ghad.

“Our investment portfolio rose 41 percent to 1.4 billion pounds at the end of the first half of the current year from 1.03 billion pounds at the end of June 2018,” Bayoumi said.

The company’s net investment income climbed 41 percent to around 186 million pounds during the financial year 2018/2019 versus 132 million pounds during the financial year 2017/2018, he added.

“Shareholders’ equity recorded 399 million pounds at the end of last financial year, while insurance policy holders’ equities reached 803 million pounds during the same period,” Bayoumi said.