Mohandes Insurance Eyes EGP1.08bn Investment Portfolio in FY14/15

Mohandes Insurance and property Company is aiming boosting its investment portfolio to EGP1.08 billion by the end of the current fiscal year 2014/2015, Reda Fathy, Managing Director said.

Speaking to Amwal Al Ghad, Fathy explained that the company’s total investments value are around EGP1 billion at the end of last March with returns volume ranging between 7.5% to 10% through various investment portfolio in all different investment channels and fields.

Mohandes has about 7.5 stakes in the Egyptian Exchange (EGX) and it has not any intentions to increase selling by the upcoming period, Fathy added.

Moreover, the company achieved EGP161 million premiums in property sector at the end of the last year 2013/2014 and it is targeting boosting it to EGP200 million in this fiscal year and this is a strong index for the company’s ability to underwrite.