Egypt’s Misr Insurance premiums jump 108.5% in FY2019

Egypt’s state-run Misr Insurance posted a 108.5 percent increase in premiums during the 2018/2019 financial year, its chairman and managing director said on Saturday.

Premiums recorded 8.99 billion Egyptian pounds ($558.1 million), up from 8.557 billion pounds during the 2017/2018 financial year, Moamen Mokhtar added.

The company paid total compensation worth 4.773 million pounds during the last financial year versus 4.524 million pounds a year earlier, marking a 5.5 percent growth, Mokhtar said.