Misr Insurance Holdings: Increasing 2016/2017 results
Misr Insurance Holding Company has published its 2016/2017 annual results ending 30 June 2017.
Misr Insurance, the non life entity of the Egyptian group, posted a net result increasing by 60.5% in local currency from 997 million EGP(113 million USD) at June 30, 2016 to 1.6 billion EGP (88.4 million USD) twelve months later. Turnover increased by 37% to 7.07 billion EGP (390.8 million USD).
The life subsidiary Misr Life Insurance reported a 80% jump in its net result at 816.2 million EGP (45.1 million USD). The company generates a premium volume of 3.3 billion EGP (182.4 million USD), up by 17.8% compared to the 2.8 billion EGP (154.8 million USD) achieved in 2016.
In August 2017, the public insurer officially inaugurated Misr Insurance Takaful, its takaful subsidiary, of which it holds a 40% stake.
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