Egypt’s Misr Life Insurance eyes 15.5% rise in premiums June 2020

Egypt’s state-run Misr Life Insurance aims a 15.5 percent year-on-year growth in premiums to around 5.2 billion Egyptian pounds ($314.3 million) at the end of financial year 2019/2020.

Earlier, premiums stood at 4.2 billion pounds at the end of the financial year 2018/2019.

“We seek to increase our investments to 31.7 billion at the end of the current financial year 2019/2020,” chairman and chief executive Ahmed Abdel Aziz told Amwal Al Ghad on Thursday.

The company also aims to raise its profits to 1.5 billion pounds and shareholders’ equity to around 658.3 million pounds at the end of the current financial year, Abdel Aziz said.