Egypt’s Misr Insurance premiums grow 3.9% in FY2019/20

Egypt’s Misr Insurance reported on Tuesday a 3.9 percent surge year-on-year in its premiums to record 9.341 billion Egyptian pounds ($593.8 million) during the 2019/2020 financial year.

Earlier, premiums registered 8.99 billion pounds during the 2018/2019 financial year.

At the end of last June, the state-run company made assets worth 32.84 billion pounds from 33.53 billion pounds during the same period in 2019, marking a 2.1 percent decline.

Shareholders’ equity stood at around 14.387 billion pounds at the end of June, down from 16.285 billion pounds during the same period of last year.