Misr Insurance records 22% Growth in 9-month Health Premiums

Egypt’s Misr Insurance Holding Company posted 309 million Egyptian pounds (US$ 40.5 million) in health insurance premiums in the first nine months in fiscal year 2014-15, head of health insurance sector Sameh Philip said Monday.

This represents a 22 percent growth in its health insurance premiums, from 253 million pounds during the same period last year.

Philip added, in exclusive statements to Amwal Al Ghad, that the total compensations paid to health insurance clients had reached 240 million pounds at the end of March 2015, compared to 140 million pounds a year earlier, with 71.4% growth rate.

Morover, he noted that the number of health insurance clients at Misr Insurance has witnessed an increase reaching 288.000, affirming that the company targets larger number of 350.000 before the end of June 2015, with targeted premiums not less than 400 million pounds.