Misr Emirates Takaful Life Insurance’s premiums rise 40% in FY2020

Egyptian Misr Emirates Takaful Life Insurance (Metlico) posted a 40 percent year-on-year growth in premiums to 149 million Egyptian pounds ($9.3 million) during the 2019/2020 financial year.

The company seeks to maximise its premiums within the coming period, through expanding geographically, managing director Ayman El Alfy announced on Wednesday.

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