Misr Life Insurance 9-Month Direct Premiums Hit EGP 1.307 Bln

Misr Life Insurance Company achieved direct premiums of EGP 1.307 billion during the first nine months of FY 2012/2013, Saeed Gabr, managing director of the company, said.

The total value of paid compensations reached EGP 1.235 billion in the same period with a year-over-year increase of 15%, he added.

He then commended all employees in the company for their efforts in increasing new issues and reducing cancellations.

It is worth mentioning that the company has a market share of 37% in terms of the volume of life insurance premiums. The bank’s portfolio reached EGP 1.6 billion, according to the latest statistics of FY 2011/2012.