Misr Insurance Eyes 4.7% Increase In Investments In FY 2012/13

Misr Insurance Company said it targets to increase the volume of its investments to EGP 12.56 million in FY 2012/2013, up from EGP 11.992 million in FY 2010/2011, with an increase of 4.7%.

The Company plans to make its investments in fixed deposits at banks reach EGP 4.851 million and its investments in government debt instruments register EGP 3.981 million by the end of next June.

The Company also plans to make its investments in available-for-sale securities register EGP 3.6 million and investments in loans reach EGP 15,000 in FY 2012/2013. In addition, the Company aims to make its investments in held-to-maturity securities reach EGP 113,000 by the end of next June.

Misr Insurance said also it targets to make its cash balances at banks and the treasury reach EGP 45,000 by the end of the current fiscal year.

It is worth mentioning that Misr Insurance targets to achieve net profit of EGP 274.3 million in FY 2012/2013, compared to net profit of EGP 232.5 million achieved in FY2010/2011, with an increase of 18%.