Egypt’s Misr Emirates Takaful Life Insurance FY2019 premiums hit $6.4mn

Egypt’s Misr Emirates Takaful Life Insurance (Metlico) posted premiums worth 107 million Egyptian pounds ($6.4 million) during the financial year 2018/2019, official sources said on Sunday.

The company is planning to maximize its premium portfolio within the upcoming period as part of its strategy that focuses on tapping geographically, the sources further told Amwal Al Ghad.

“We have recently opened a new branch in Mansoura governorate to increase our geographical network to five branches besides the main headquarters,” they said, adding that two other branches will be inaugurated within the next period.

Founded in 2015, Metlico is part of the UAE Islamic Arab Insurance Companies. The company is with an authorized capital of 100 million Egyptian pounds ($6 million) and issued capital of 60 million pounds.