Misr Insurance Eyes EGP5 billion Premiums by End of June 2015

Egypt’s Misr Insurance Company (MIC) is planning to increase written premiums to EGP 5 billion within fiscal year of 2014/2015, chairman Adel Moussa told Amwal Al Ghad on Sunday.

MIC’s had written insurance premiums totalling EGP 4.7 billion during previous fiscal year of 2013/2014.

By June-end, MIC registered a volume of investments worth EGP 14 billion, compared to EGP 13 billion during same period last year, Moussa noted.

Moreover, Misr Insurance chairman said he expects his company to attain credit rating A+ before the end of 2014.