Metlico eyes 195 mln Egyptian pounds premiums in FY2020/21

By Eslam Abdelhameed On Sep 2, 2020

Ayman El Alfy, managing director of Egypt's Misr Emirates Takaful Life Insurance (Metlico)

Egypt’s Misr Emirates Takaful Life Insurance (Metlico) targets premiums worth 195 million Egyptian pounds ($12.3 million) within the 2020/2021 financial year, its managing director said on Tuesday.

The company succeeded in generating 149 million pounds during the last financial year despite the coronavirus crisis, Ayman El Alfy told Amwal Al Ghad.

At the end of last June, Metlico achieved 40 percent increase in its premium portfolio, El Alfy added.

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