Delta Insurance hikes authorised capital to 500 million Egyptian pounds

Delta Insurance’s extraordinary general assembly has endorsed a planned increase of its authorised capital to 500 million Egyptian pounds ($30.8 million), sources in the firm said on Monday.

“We have also approved to raise our current issued and paid-in capital to 126 million pounds from 120 million pounds,” the official source told Amwal Al Ghad.

During the financial year 2018/2019, Delta Insurance’s net profit climbed 48.3 percent to 135.79 million pounds from 91.55 million pounds during the financial year 2017/2018.