QNB Alahli Life Insurance assets reach 1.8 bln pounds

Total assets of QNB Alahli Life Insurance, one of the leading bancassurance players in the Egyptian market, rose 5.7 percent y-o-y to1.85 billion Egyptian pounds at the end of quarter one of this year.

The company, part of QNB Alahli Bank, generated assets totalling 1.75 billion pounds at the end of December 2016.

Total revenues amounted to 43.8 million pounds at the end of March compared to 124.6 million pounds last year, according to reliable sources in the company.

Liabilities recorded 1.5 billion pounds compared to 1.4 billion pounds at the end of last year.

The Company’s profits hit 35.3 million pounds during the first quarter of 2017, down  from88.2 million pounds last year.

QNB  Alahli Life Company’s biggest shareholder is Qatar National Bank Al Ahli with 99.9percent of the shares.