Misr Insurance: EGP 2.8 billion Premiums in 9 Months

Misr Insurance Company achieved a volume of EGP 2.84 million written premiums during the first nine months of the current fiscal year 2011 / 2012.

Total net premiums reached EGP 1.465 billion by the end of the third quarter of this fiscal year, while total paid compensation posted EGP 2.308 billion for the same period.

The company’s net profit reached EGP 209 million, while total investments amounted to EGP 12.139 billion by the end of last March, net investment income reached 721 million EGP during the same period.

Loss rate was 86.3% by the end of the third quarter of fiscal year 2011 / 2012, compared to 113.2% for the same period of last year.

Technical reserves amounted to EGP 7.894 billion, while excess insurance activity recorded EGP 293 million during the first 9 months of the current year.