Misr Insurance’s Motor Premiums Expected To Hit EGP 241 Mln By End-June

Misr Insurance Company’s motor insurance premiums are expected to reach EGP 241 million by the end of next June, said Khaled Farouk El-Mallah, general manager of Research, Development and International Relations at the Misr Insurance Holding Company.

The company’s paid motor compensations are also expected to hike 120% to reach EGP 483 million by the end of FY 2012/2013, he added.

The company is able achieve this premium growth rate, thanks to the customers’ confidence in the company’s services and in its commitment to meet liabilities, he stressed.

Misr Insurance Company (Non-life) achieved motor premiums of about EGP 123 million at the end of last March.

It is worth mentioning that Misr Insurance Company (Non-life) has 30% insurance market share in Egypt.